target audience: TECH SUPPLIER Publication date: Mar 2024 - Document type: IDC Survey - Doc Document number: # EUR151878324
2024 EMEA Cross-Industry Business Priorities Driving Technology Investments and Innovation Strategies
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Abstract
This IDC Survey investigates EMEA organizations' current priorities regarding investments for tech solutions and their strategies for innovation based on results from IDC's 2023 EMEA Cross-Industry Acceleration Survey.
EMEA organizations seek tech solutions that address governance, risk, and compliance (GRC); customer experiences; and cost reduction amid regulatory shifts and supply chain uncertainties. The success of innovation and technology-oriented projects relies on their alignment with business outcomes, particularly emphasizing customer experience. GRC typically dictates technology investments across industries, save for a focus on customer centricity in manufacturing and service expansion to citizens among governments. Meanwhile, collaboration within ecosystems through hubs, centers of excellence (COEs), and joint R&D, alongside public-private partnerships and industry consortia, is fostering innovation via collective collaboration and collectively shared gains. In 2024, EMEA organizations are focusing on leveraging shared risk and resources for next-gen tech initiatives, emphasizing public-private partnerships for broader funding access. Engineering, construction, and real estate, however, is geared toward public-private partnerships for its next-gen technology initiatives. Internal business model enhancements and incremental changes are driving model evolution toward tech-driven innovation; diversification into new markets and digital skills are accelerating progress toward purely digital business models. Financial services, telco and media, and retail lead the digital business transformation, with many organizations in these industries identifying themselves as digital-first businesses.