There are plenty of great acronyms in our industry. For example a recent one is SMAC (Social, Mobilty, Analytics and Cloud) which is a nice way to remember what all are the real hot tech 'industries' already viable in tech (compared to emerging promising tech which is not yet established as a viable global (and profitable) industry such as 3D printing, drones, augmented reality, virtual reality, nanotechnology etc. Most of those will probably also grow to be big but they are TRIVIAL in size, compared to say Social Media - haha Facebook alone is bigger than global 3D printing industry plus drones plus AR plus VR plus nanotechnology combined). Recently I have been thinking about this and calculating and doing some deep analysis, and have now started to discuss my thoughts in my private customer seminars. Eventually this will become a public conference item and a chapter in an upcoming book. But right now, I want to just introduce a new acronym for our industry. The problem with SMAC is that it is clearly missing a major component... where is IoT? Where is one of the biggest tech opportunities - definitely already a giant global industry - the Internet of Things? All the stuff about Smart Cities and Connected Cars - thats all part of the IoT slice of the tech future - and that CERTAINLY is of the scale to be included within 'SMAC' for example. I have the solution. Easy:
SCIAM is our newest acronym, effective today. If you want to remember easily the 5 largest dimensions of the near future of growing high tech sectors, on a time window from now to 10 years - that is it. It covers all the legitimate big ones without any of the stagnant old industries like PCs, Television, the legacy Internet etc - but including all the big growing tech industry sectors with yes, the Internet of Things. So SCIAM stands for Social, Cloud, IoT, Analytics and Mobile. Within IoT we have all its subsectors especially Smart Cities and Connected Cars but also all other IoT concepts from the connected fridge to the connected baby diapers. Mobile obviously includes the main elements of the classic industries which are shifting to mobile so PCs (smartphones are now accepted to be part of the definition of computers), videogaming (this year 50% of total videogaming revenue will be mobile), the internet (most internet users have been mobile for many years already) etc.
SCIAM ALSO INDICATES SCALE
The beauty of the acronym of SCIAM is not just that it adds IoT to SCAM, it also re-arranges the industries - BY SIZE. SCIAM lists the 5 major growing global tech industry sectors - by their relative size. Social Media is big, but its the smallest of these five. Cloud Computing is bigger than total Social Media. Internet of Things may be somewhat vague still today because of the incredibly wide range of definitions but when in full deployment, IoT will be significantly bigger than both Social Media and Cloud. Just consider Connected Cars, alone, will be a larger industry than the global Social Media industry of Facebook, Twitter, Instagram etc. Then what of Big Data? So the A in SCIAM, Analytics (is a close synonym to 'Big Data'). Analytics is significantly larger than the Internet of Things, why? Because while IoT will have dozens of Billions of gadgets connected, most of those will not post huge profitable traffic to the network. Your new connected fridge will not take selfies next to the new sexy microwave oven, and post them to FridgeBook.com for other kitchen gadgets to come and see. But Analytics - the Big Data industry - will arguably replace or supplant or double the size of the ADVERTISING industry. A massive half-Trillion-dollar industry all by itself. Advertising is running to Big Data and gobbling up many of the independent players along the way. Analytics will be the biggest of these first four. But as Mobile is the last in the acronym SCIAM it also tells us, Mobile is the largest of the 5. Is today. Is still growing fast. Will easily be the largest of the 5 in five years. Mobile will still easily be the largest of the 5 in ten years from now.
So to finish with something less heavy, lets remember these industries and what they mean. Why is mobile inevitable part of all aspects of SCIAM? Let me tell you:
Social Media without Mobile would soon become Lonely Media.
Cloud Computing without Mobile is just Plain Old Computing.
Internet of Things without Mobile is just Things.
The Connected Car without Mobile is a Disconnected Car.
The Smart City without Mobile is what we have today: a Dumb City.
Big Data without Mobile is just Big. A Big Waste? Maybe not, maybe more like a colossal, gargantuan waste.
Mobile has been the fastest-growing giant industry in human history. Automobiles was the previous champion, which went from zero dollars to one Trillion dollars of annual revenues (1,000 Billion dollars) in 100 years. Mobile shattered that record, we broke the 1 Trillion dollar barrier in 29 years from launch. Television, Cinema, Music, Print, Landline telephones, Advertising, Radio, Computers, Airplanes, the Internet etc have never reached that level, none of them have ever been bigger than half a Trillon dollars in annual sales. After mobile set the world record for fastest-growing giant industry ever, it didn't stop growing. Mobile is still - by far - the fastest-growing giant industry. Today Mobile is worth 1.7 Trillion dollars and will pass 2.0 Trillion in value by 2020 becoming one of the planets 5 largest industries. By 2035 Mobile will be the largest industry in the world. So yeah, lets welcome SCIAM as the new acronym to remind us about all the 5 aspects of huge tech industry sectors with rapid growth today. From smallest to largest, these are all soon to be 100 Billion dollar industries or larger: Social, Cloud, IoT, Analytics, and Mobile.
I will have more to share about this as I get to it, but I wanted to share this top-line thinking so you can come onboard and think it through. What do you think. SCIAM? It does cover all the real industries while keeping the hype industries off the map like VR and drones