target audience: TECH SUPPLIER Publication date: May 2023 - Document type: Market Presentation - Doc Document number: # AP50372423
Digital Transformation Adoption — Industry Priorities and Focus Areas
This document aims to analyze the progress of digital transformation (DX) across key industries in India, amid the challenging business and global economic environment. This presentation analyzes the impacts of inflation pressure, fear of recession, and labor shortages and emphasizes how the previous recession playbook for IT budgeting may not be relevant anymore.
Organizations have progressed from solving business problems in silos to focusing on the positive financial impacts of digital transformation (DX) initiatives. Considering the share of India enterprises committed to a digital-first strategy, this document emphasizes the beginning of the digital business era. Owing to the increasing importance of digital technologies in driving overall business growth, the compound annual growth rate (CAGR) of DX spend has outpaced that of IT spending for most industries in India.
The implications of the evolving digital strategies of India enterprises on tech suppliers and tech buyers were also analyzed and captured in this document. The document summarized findings from various IDC surveys, spending trackers, and secondary research.