Connect with us

E-Business

Report Indicates ‘Must Do’ By Wearables to Capture Middle East & Africa

Published

on

Kindly share this post

The wearables growth story continues unabated in the Middle East and Africa (MEA) region, with shipments reaching an all-time high of 746,000 units in the final quarter of 2016, according to the latest figures compiled by International Data Corporation (IDC).

The global ICT research and consulting services firm says shipments were up 29.0% year on year in Q4 2016, spurred by new launches from leading vendors and the entrance of new players to the market.

When looking at 2016 as a whole, IDC’s data shows that wearables shipments for the MEA region were up 52.2% year on year.

This was primarily driven by the strong performance of low-cost basic wearables (i.e., devices that do not support third-party applications), which grew 67.9% year on year in 2016. The growth for smart wearable devices (i.e., devices that do support third-party applications) was not quite as spectacular, with shipments up 20.7% over the same period.

“Health and fitness are the only areas currently addressed by wearable tech, and these are areas that smart and basic wearables perform equally well in,” said Nakul Dogra, a senior research analyst for personal computing, systems, and infrastructure solutions at IDC MEA. “As such, users do not receive any incremental benefit in terms of functionality from investing the additional cost required for a smart wearable device. There is therefore a need for wearables to evolve from basic functionalities like counting steps and analyzing sleeping patterns to more complex functionalities that rely on the use of third-party apps. Such apps are clearly underutilized in the current scenario, which is limiting the growth of smart wearables.”

Besides functionality, Dogra also anticipates a shift in the way wearables are bought. “With fashion hogging much of the limelight, utility is being pushed into the shadows,” he said. “As such, sales of wearables will increasingly be driven by fashion labels that are partnering with tech brands, a move that will help take wearables to a new audience and broaden the retail of these gadgets beyond traditional electronics stores and into fashion outlets. New product launches are expected in the clothing segment in 2017 and this will inevitably accentuate the focus on fashion within the wearables space.”

IDC expects the MEA wearables market to grow 24.1% year on year in 2017 to reach a total of 2.9 million units. And looking further ahead, IDC’s latest forecast shows the market expanding at a compound annual growth rate (CAGR) of 11.3% over the 2016–2021 period.

“The wearables market is continuously evolving,” said Dogra. “Going forward, we expect the smart watch space to become further segmented, with each brand/product catering to a niche audience (i.e., kids watches, sports watches, luxury watches, fashion watches) and addressing the particular needs of specific users in a more effective way. Currently, the majority of smart watches are generic in nature, with a single device trying to cater to the multiple needs of a varied set of consumers, often with poor results. This segmentation is therefore a positive move for the wearables industry, with customer satisfaction and stickiness likely to increase if these niche products are able to address their needs better.”

Dogra also believes that wearables vendors must look to differentiate their products from smartphones and create a compelling need for wearables within the broader ecosystem of gadgets. “Without this differentiation, wearables will stagnate and be viewed as little more than fashion accessories for your smartphone,” he said. “Wearables have the potential to form an integral part of the Internet of Things ecosystem, so it is imperative that vendors come up with innovative solutions that move beyond health and fitness to enable consumers to perform day-to-day tasks in an easier way.”

To keep pace with the changes taking place in this fast-moving market, IDC has launched its Worldwide Quarterly Wearable Device Tracker, which assists vendors that are looking to enter this market, promote new product developments, or accelerate the growth of their wearables divisions.

The tracker includes details on products, vendors, and technology trends at both global and country levels, as well as historical market data and five-year forecasts. The report also provides valuable insights into the adoption of core wearable features, such as form factor, connectivity, sensors, operating systems, and applications, and offers invaluable assistance to tech firms looking to develop successful long-term business strategies for wearable devices.

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

E-Business

Wema Bank Launches Second FGN-ALAT Digital ‘Skillnovation’ Cohort

Published

on

Kindly share this post

Wema Bank has launched the second cohort for the FGN-ALAT Digital Skillnovation Programme in partnership with the Federal Government to train and equip two million young people and 1 million MSMEs across Nigeria with relevant digital skills.

Since the launch of the first cohort in 2023, over 300,000 youths and business owners have leveraged the platform as a launchpad for their business and career success.

This cohort featured 100% virtual learning sessions through which participants from the 36 states in Nigeria and the Federal Capital Territory (FCT) were provided with self-paced online learning experiences.

As cohort 2 begins in the second quarter of 2024, the FGN-ALAT digital programme is officially transitioning to physical training sessions and the curriculum will cover key digital skills including software engineering, product management, business analysis, cloud computing and product design, among others.

This phase of the programme will be executed via FGN-ALAT digital hubs, which will be set up in the different states across the six geopolitical zones in Nigeria to ensure that every Nigerian can access the programme’s full benefits regardless of their location.

These hubs will be equipped with training and incubation facilities ideal for digital-driven learning, giving participants the opportunity to acquire marketable and transferrable digital skills and gain a competitive edge in the global digital ecosystem.

The FGN-ALAT digital hubs will be set up in phases and trainings will commence accordingly, starting with Borno  and Anambra State.

Wema Bank’s Executive Director of Retail and Digital Business, Tunde Mabawonku, emphasised the pivotal role of the programme in bridging the gaps in Nigeria’s macroeconomic landscape towards national development.

“We are unwavering in our commitment to supporting MSMEs and with the FGN-ALAT Digital Skillnovation Programme, it’s all about the bigger picture—which is why we have partnered with the Federal Government to augment the scale of this programme’s impact.

“By tailoring this programme to suit the needs of both entrepreneurial minded and professionally inclined Nigerians, we are not just arming SMEs for more efficient business management and growth, we are also equipping Nigeria’s workforce for increased productivity and the ripple effect will not only create more viable employment opportunities for Nigerians towards reduced unemployment and underemployment rates, but further drive economic growth and national development, boosting Nigeria’s position on the global playing field.

“The digital evolution is moving sporadically and by empowering our youth and MSMEs with in-demand digital skills, we are ensuring that Nigeria is not left behind as the world evolves.

“Beyond the intellectual resources and other non-monetary opportunities, we are going a step further to provide financial support for these participants in form of millions of naira in equity capital, soft loans and grants, to enable them put their learnings to practice and build sustainable streams of income that could help them become employers in their own right.

“I encourage you to take the big step forward in achieving your business and career goals by joining the programme. All you have to do is visit the website to register. This programme is completely free and there’s more than enough room for you. Your success is Nigeria’s success and as your unique journey unravels, our promise remains certain,” he said.

Referring to the programme as an eye-opener for all, Mariam Isah, a beneficiary of Cohort 1, said, “It’s almost unbelievable all I’ve learnt in one month virtual training.

“I started this training simply looking for a way forward for my business but I have unlocked secrets that are life changing not just in my business but in all aspects of life. I am so grateful for this rare opportunity, and I can’t wait to be a part of the cohort 2.”


Kindly share this post
Continue Reading

E-Business

StarNews, Global Black Economic Forum Launch Business Competition In Partnership with MTN & USAID

Published

on

Kindly share this post

Africa’s leading video streaming platform, StarNews Mobile and the Global Black Economic Forum (GBEF), have announced a call for applications for the launch of their Business Competition in Lagos, Nigeria.

Held in partnership with MTN and United Nations Agency for International Development (USAID), the initiative will empower Nigeria’s most promising businesses that are classified as Small-Medium Enterprises (SMEs) with invaluable investment and partnership opportunities from the USA.

Held over 10 weeks between April 8th to June 14th, hosted exclusively on the StarNews Biz Channel on the StarNews platform, this competition offers a platform for emerging entrepreneurs to showcase their ventures and gain national visibility.

With subscribers voting for their favourite candidates, the top 20 contestants will seize the spotlight and make their mark on the business landscape.

The StarNews Business Competition in partnership with GBEF delivers a unique opportunity for thriving Nigerian SMEs to access mentoring, funding, partnerships and socio-economic development tools through the Global Black Economic Forum.

With the prospect of securing cash prizes through StarNews worth up to NGN5,000,000, getting access to StarNews’s network of investors and the opportunity to gain national visibility by having their business on the StarNews web platform.

The top three winners will also receive coaching from GBEF’s Academy for Advancing Excellence and become part of GBEF’s ecosystem of global leaders committed to social and economic justice across the Black Diaspora.

Previous speakers at GBEF convenings from the entertainment sector include Wyclef Jean (Haitian Musician & Activist), Debra Lee (Former CEO of Black Entertainment Television – BET) and Ceci Kurzman (Founder of Nexus Management Group). Applications will close on April 5th 2024.

Speaking on the competition’s launch, Guy Kamgaing, Founder and CEO at StarNews Mobile, says “The StarNews Business Competition is a passion project close to our hearts at StarNews Mobile.

It’s about discovering the most promising business entrepreneurs and creators in Nigeria, opening up global opportunities for them and providing them with the resources and tools to achieve their goals.

By partnering with MTN, USAID and GBEF, we want to be a platform of empowerment for these SMEs by helping them give back to the communities that are supporting them.”

According to the US Embassy and Consulate for Nigeria, over 80% of Nigerian startups are incorporated in the United States and more than 60% of venture capital funding in Nigerian startups accounted for by the US.

In 2023 alone, Nigerian startups raised a total of $398mn however, this signalled a 66% funding decline compared to 2022 due to the global economic downturn, reinforcing the massive need for a fresh injection of capital and business support for Nigeria’s emerging SMEs.

Alphonso David, President and CEO of the Global Black Economic Forum notes that, “Our partnership with StarNews Mobile is a critical resource as we continue to build the collective strength of entrepreneurship across the Diaspora.

“Building a sustainable ecosystem of Black entrepreneurs in the United States and across the African continent is essential to create a future that makes economic opportunity and economic freedom a reality for all.”

A sister company to ESSENCE, GBEF advances its work by convening global summits and conferences, bringing together world leaders, business leaders, entrepreneurs, celebrities and civic leaders to address the most challenging problems facing our communities.

GBEF’s Academy for Advancing Excellence facilitates workforce and leadership development strategy, addressing the talent pipeline & employee lifecycle, providing leadership development & coaching, and conducting institutional assessments & research.

GBEF also develops and implements economic and social justice policy recommendations with partners ranging from civil and human rights organisations to government entities and corporations that advocate for economic opportunity, social justice, and health equity through thought leadership, advocacy and litigation.

Launched in 2017, StarNews Mobile empowers African content creators with the unique opportunity to monetize their work through a subscription model, boasting over 4 million subscribers and a thriving community of more than 120 content creators.

With a strong presence across six countries including Cameroon, Nigeria, Côte D’Ivoire, Congo, Benin and Ghana, the platform has also established key partnerships with major telecom operators such as MTN and Orange.

To-date, StarNews Mobile has secured over $8mn in funding with its most recent raise – a $3mn pre-Series A funding round in October 2023 – led by Janngo Capital with participation from French football players Aurélien Tchouaméni, Jules Koundé and Mike Maignan.

 


Kindly share this post
Continue Reading

E-Business

Companies Invest More than $100,000 Yearly to Upskill their Cybersecurity Teams – Study Reveals

Published

on

Kindly share this post

Over 70% of businesses pay more than USD $100,000 for additional training annually to keep skills of their cybersecurity employees up to date, a recent global Kaspersky study has revealed.

However, the surveyed companies also highlighted that there was a lack of relevant courses covering new challenging spheres in the educational market and stated that training does not always bring them the expected result.

In its recent study ‘The portrait of the modern Information Security professional’, Kaspersky examined the topic of the global cybersecurity staff shortage, analysing the exact reasons businesses lack cybersecurity experts, and identifying the ways they evaluate and upskill their cybersecurity workforce¹.

According to the research, companies are investing significant amounts in upskilling their cybersecurity teams: 43% of organisations globally say they usually spend between $100,000 and $200,000 per year on information security courses, while 31% even invest over $200,000 for training programs. The remaining 26% state they usually pay less than $100,000 for educational initiatives².

However, cybersecurity practitioners also note that the educational market is struggling to keep up with the rapidly changing industry and fail to deliver the necessary training programs on time.

Survey results for the Middle East, Turkiye, Africa (META) region shows that the scarcity of courses covering new challenging spheres (48%) was the main problem for those searching for cybersecurity training.

50% of respondents from the META region also stated that trainees tend to forget what they learned because they had no opportunity to apply newly acquired knowledge, therefore the courses were useless to them.

The need for special training pre-requisites such as coding and advanced mathematics, which were not specified at the pre-registration stage were also problematic for 37% of practitioners from the META region.

“With a constantly evolving threat landscape, businesses should continually improve the skills of their cybersecurity personnel in order to be well prepared for sophisticated cyberattacks.

“Developing high-profile specialists within the company and building internal expertise can be an effective strategy for organisations that aim to retain existing employees and allow them to grow professionally, instead of constantly hunting for new candidates and checking their professional backgrounds and practical skills.

“For organisations served by Managed Service Providers it is also important to maintain a pretty high level of expertise internally and use the same language when discussing the scope of services and Service Level Agreement with them,” comments Veniamin Levtsov, VP, Center of Corporate Business Expertise at Kaspersky.


Kindly share this post
Continue Reading

Trending