Web 2.0 spending to rise
According to Forrester research, spending on Web 2.0 applications is set to boom in North America and Europe. Releasing its survey findings at the Web 2.0 conference in San Francisco, Forrester believes that traditional enterprises are finally starting to embrace this “fundamental new way” of communicating with employees and customers.
Such traditional consumer giants as General Motors, McDonald’s and Bank of America have already embraced tools like RSS feeds, blogs, podcasts and social networking. Analysts estimate that more than 60% of North American and European companies will make Web 2.0 a priority in 2008. It looks like the smart money in the Web 2.0 economy will be on the Enterprise side.
While the big investment focus in the Web 2.0 space remains in North America and Europe, the conditions are ripe for such applications to establish a foothold in Singapore. The promise of island-wide wireless broadband access is slowly becoming a reality, and a host of innovative mobile devices have begun to show up on our shores (although we are still awaiting, with drooling anticipation, the official appearance of the much-desired iPhone here).
The key Web 2.0 categories are: Blogs, Mashups, Podcasting, RSS feeds, social networking, widgets and wikis. Though much of the development in these technologies have been focused on engaging the youth / geek markets, the real winners will be those companies that can leverage these technologies to solve real business needs; thereby taking a bite out of the multi-million-dollar revenues that the traditional business-software industry commands.
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