Three years ago, we described ten information technology–enabled business trends that were profoundly altering the business landscape.1 The pace of technology change, innovation, and business adoption since then has been stunning. Consider that the world’s stock of data is now doubling every 20 months; the number of Internet-connected devices has reached 12 billion; and payments by mobile phone are hurtling toward the $1 trillion mark.
This progress both reflects the trends we described three years ago and is influencing their shape. The article that follows updates our 2010 list. (For a more detailed treatment, download the related white paper [PDF–1MB] from the McKinsey Global Institute.) In addition to describing how several trends have grown in importance, we have added a few that are rapidly gathering momentum, while removing those that have entered the mainstream.