top of page

Digital trends transforming capital-intensive industries: Part 2

Updated: Apr 26, 2023

In 2023, digital transformation in capital-intensive industries is accelerating faster than ever. As new technology trends constantly arise and new buzzwords pop up, it's hard to understand what will provide the most significant benefit to your organization. How can you discern which new technology will help you alleviate the common barriers to digital adoption? In this three-part series, we will look at the most important trends in technology that are working to alleviate barriers to digital adoption and help you fully embrace the opportunities of digital transformation.

In our last post, we introduced the six current trends in tech that are working to accelerate digital transformation in industry by alleviating common barriers to adoption. In this post, we’ll dive into more detail on the first three barriers, affordable data capture, data abundance, and cloud first and cloud native architecture:

1. Affordable data capture

As the industry continues to explode (worth an estimated $30.6B USD in 2022), drone flight and capabilities continue to be ruthlessly refined and optimized. This explosion in investment and potential suppliers has driven drone prices down significantly over the past 10 years, increasing accessibility to customers and businesses.

Capturing a visual representation of physical sites is now relatively easy and affordable as handheld and wearable devices and drones have become widely available, creating the baseline to enable visual work. This technology is particularly well suited to brownfield facilities with the need to understand and communicate current site conditions.

2. Data abundance

Humanity is producing more data than ever before, an extraordinary 2.5 quintillion bytes of data every single day. The ability to process large amounts of data and extract actionable insights has revolutionized the way we work. Over 90% of the world’s total data has been generated in the past two years. The advantages associated with visual data cannot be overestimated. The brain is programmed for visualization, and visualization is known to increase productivity[6]

A key to success for all organizations in today’s world is the ability to ensure that their data is:

  • Available

  • Accessible

  • Complete

  • Organized

  • Accurate

  • Secure

  • Ready to be analyzed

  • Easily visualized

3. Cloud-first and cloud-native architecture

Cloud-native architecture and technologies are a strategy to designing, constructing, and operating workloads that are built in the cloud and take full advantage of the cloud computing model. Cloud computing has become a critical business technology with an anticipated market value of over $800B USD by 2025. Cloud and the latest web technologies make it easy to view, share and capture visual data anywhere, anytime securely and at scale.

The primary benefits associated with cloud native viewing include:

  • Data security and fast recovery

  • Cost-efficiency

  • Easier remote collaboration

  • Scalability

In our next post, the final of our three- part series, we’ll dive into the nitty-gritty on the next three trends in tech working to alleviate common barriers to digital adoption faced by capital-intensive industries: data contextualization, machine learning, and data aggregation.

Check out our 30 minute live VEERUM platform demos every other Tuesday.

> Yes, I want to see VEERUM in action - Sign me up!

> No, I'm not interested in the live demo - Download the Digital Transformation Whitepaper


bottom of page