THANKS TO INNOVATIONS like cloud computing, videoconferencing and other developments in telecom and office communications the single office/home office (SOHO) sector is booming as technology makes it easier to support a remote workforce, reports a new study.
In-Stat says the developments in office and communication technology have helped to foster what has been a significant rise in telecommuters. Recent economic conditions have helped to create, in many cases out of necessity, a large self-employed, home-based labour force. The combination of the two has been instrumental in the growth of the SOHO (single office/home office) work environment. That expansion in turn has led research firm In-Stat to forecast that SOHO business spending will surpass $17 billion in 2015.
"The overall spending trend in SOHO spending will see a 20% increase over the next five years," says Greg Potter, analyst. "There will be pockets of spending in products and segments that are more significant than others. For example, healthcare and social services, construction, and retail trade market segments will experience the largest overall gains over the forecast period, each increasing their overall spend by $240 million, while cloud computing, as a product category, continues to experience the largest percentage of growth.
In-Stat also predicts that Software as a Service (SaaS) spending will increase to almost $800 million in 2015 and the professional services vertical segment will spend $2.5 billion in 2013. Wireless data spending will increase 45% from 2010-2015, while Cloud computing will experience the largest growth in terms of percentage, growing roughly 150%.
