56% Of Enterprises Plan To Use Blockchain By 2020

By 2020, 56% of large enterprises are expected to adopt blockchain technology according to a survey from Spiceworks. According to the research results, 86% of large enterprises also plan to adopt IoT solutions, 65% plan to deploy edge computing technology, and 64% expect to use AI.
The Spiceworks survey was conducted in July 2018 and included 780 business technology buyers from organizations across North America and Europe.
Key findings in the report:
  • Adoption trend for Emerging technologies like AI, edge computing; in large enterprises is 10 times higher than in small businesses.
  • More than 50% of large enterprises are expected to adopt blockchain technology by 2020.
  • Financial services organizations are the first adopters of most emerging technology.
According to a survey, Large organizations are increasing their IT budgets in 2019, to better able to upgrade outdated infrastructure, add in the latest security solutions, and invest in innovation.
Peter Tsai, a senior technology analyst at Spiceworks, commented in a press release. "Larger companies have more resources and manpower to dedicate towards testing, deploying, and managing emerging technologies, On the other hand, small businesses aren't increasing IT budgets at the same rate as large enterprises, so they're focusing their limited resources on more immediate concerns, such as refreshing aging and potentially out-of-support infrastructure, software, and services. As a result, many small companies are putting off adopting emerging tech until it's proven to have a significant impact on the workplace."
Organizations of all capacities are still working to adopt emerging technology, Of all surveyed 37% of organizations currently use IT automation, 36% use gigabit Wi-Fi networking, and 27% use IoT technology. By 2020, these figures are expected to reach 58%, 61%, and 48%, respectively.
Across industries, financial services organizations tend to be the earliest adopters of most emerging technologies, the report found, while government institutions tend to be the slowest adopters.
Among emerging tech trends, IT automation technologies will have the biggest impact on the business, according to 41% of those surveyed. IoT technology (32%) and gigabit Wi-Fi networking (30%) will also have major impacts.
"Automation, especially with a machine-learning component, can help businesses save resources and get a clearer picture of their ROI on capital and marketing investments. Most businesses have large pools of data that they underutilize, but once an analytics system is set up, it can have a major impact on teams’ effectiveness throughout the business, not only in IT.” , Commented Briana Brownell, Founder, and CEO of PureStrategy.