More than half of technology executives citing mobile and cloud as their leading revenue driver say mobile revenues exceeded 2013 forecasts, while nearly half say cloud revenues exceeded their 2013 forecasts. The 53 percent for mobile and 46 percent for cloud are compared to 26 and 28, respectively, last year.
Audit, tax and advisory firm KPMG found that not only are mobile and cloud revenues surging, but data and analytics, as well as security, are also expected to be top revenue growth drivers in the next couple of years.
"We are witnessing a convergence of technologies and business opportunity that is producing a flood of revenue in cloud and mobile," said Gary Matuszak, Global Chair, KPMG Technology, Media and Telecommunications practice. "Also, technology companies are leveraging cloud to transform their business to become more efficient, smarter and flexible."
The Internet of Things has potentially emerged as the next big revenue driver due to rapid technology innovation and new business-model opportunities across industries as companies seek to differentiate from competitors, the study revealed.