IoT, cloud computing, augmented reality are some of the digital trends that continue to play a key role in today’s digital age. However, some trends will transform as we inch closer to 2020.

Companies are striving to keep up with the rapidly growing digital landscape. They need to know about the digital transformation trends that will be crucial in the coming years. Some of the existing trends will undergo a definitive transformation as we inch closer to 2020.

The latest report from MuleSoft reveals some of the top digital transformation trends for 2020. It also explores the impact of these trends across several industries. Let’s take a look at them.

  1. Multi-Cloud Computing

Today, the majority of companies run on multi-cloud, but, managing multiple clouds is not only complicated as but also not economical. As per the report, 84% of enterprises with more than 1000 employees have a multi-cloud strategy. The process of moving application workloads between cloud environments is a significant task for companies. Managing apps and costs are some of the biggest challenges with a multi-cloud strategy. Companies struggle to move applications workloads between clouds.

With the help of APIs, companies can unlock the data and other unique functionalities of apps that are present in multiple cloud environments. In the next one and a half years, there will be a 165% growth for companies that run their environment using containerized applications.

  1. Data will continue to drive businesses

Identifying new data and analyzing correctly, is a critical part of a smart digital transformation. Companies are using the abundant data to offer enhanced customer experiences as well as streamline operations. The data is also utilized to come up with new ideas, as well as the launch of new products and services.

As per the report, a company’s performance is correlated with breaking down data silos. 83% of IT decision-makers report data silos to create business challenges in their organization. Providing further insights, the research revealed that 68% of the top companies work on eliminating data silos.

  1. APIs are the key to fueling business performance

Businesses that leverage APIs have recorded a rise in increased productivity and revenue growth, revealed the report. Ninety-one percent of enterprises that own public or private APIs have resulted in garnering a substantial business outcome. They allow companies to put more focus on faster as well as smarter innovation. There are a few companies that have reported reused APIs that have helped them increase their speed by two-times by reusing APIs.

  1. Building stronger ties with external stakeholders

Businesses are building collaborative ecosystems of partners, customers, as well as external stakeholders. There is an increase in the digital ecosystems which results in companies seamlessly incorporating new products and services into their customer experiences, added the report. The research highlighted that open APIs are helping businesses co-create value with external stakeholders.