The new year has arrived at last, and it’s only natural to reflect on the happenings of the previous year.
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In 2014, software companies overshadowed other industries in terms of the most rapidly growing in North America. Let’s examine the fastest-growing technology industries of 2014 and discuss how these industries will impact 2015.
Deloitte Technology Fast 500
Every year, Deloitte Technology Fast 500 recognizes tech’s fastest growing companies. These companies include public and private, as well as large and small. Innovative industries included are software, hardware, semiconductors, clean technology, life sciences and telecom.
Analyzing the Deloitte Technology Fast 500 helps us gain important insights to the year in review — and insights to what we as a society can expect for the future.
The results from 2014
Almost half of the 2014 Deloitte Technology Fast 500 were software companies. Combining software with internet companies, and that statistic rises to 64%.
The proof is in the statistics: Software and internet companies are currently leading the way for fast 500 companies. The trifecta of leaders from 2014 is MobileIron with 123,678% growth, Fuhu, Inc. with 76.627% growth, and Twilio with 25.248% growth.
What you need to know
There are many different ways to analyze 2014’s results and make predictions for the future. Let’s begin by dissecting the statistics from 2014’s results and explore what they mean for society.
60% of the companies recognized are private companies
This implies there are a great deal of opportunities for private companies, possibly more than ever before. Although it’s also predicted that a few of the large tech companies, such as GoDaddy and Box, might go public in 2015, it’s also a testament to the general nature of the business tech industry. As such, 67% of the companies recognized received venture capital funding.
Also, it’s no secret that the future of the technology industry lies in software.
241 of the 500 companies are in the software sector
The software sector will continue to be a heavy hitter in the upcoming year. This means that we’ll likely see even more software developments in industries that have previously used very little software.
For example, one such company sought to fulfill the software needs of the construction industry, creating helpful tools that are new to most construction companies. Likewise, we can expect to see more industries developing niche software programs to improve the efficiency and productivity of previously lower-tech businesses.
Furthermore, according to Mobile Enterprise, we can expect to see the following predictions come to fruition in 2015:
- The need for and creation of mobile software will continue to rise.
- The internet of things (IoT) for the enterprise, will be a focal point for software.
- Big data will remain important, but it won’t be as much of a focal point.
- The requests for “clean data” will continue to rise exponentially.
- There will be a need for better security as more bugs are unleashed on mobile devices.
- There will be a greater need for cloud safety.
- Mobile devices will act as portals for an increasing amount of data breaches.
- Enterprise spending for security software will drastically increase.
While the fastest-growing industries of 2014 are all unique in their own right, there are a few similarities worth mentioning.
The companies that were recognized are in a position of advanced development. They are ahead of the game; in fact, they are the game changers. They are the innovative pioneers of the technology industry, and they will pave the way for the rest of the world in 2015.