TECH SUPPLIER Nov 2021 - Market Presentation - Doc # US48384721

Worldwide Digital Transformation Trends, November 2021: The $10.7 Trillion Opportunity

By: Shawn Fitzgerald, Craig SimpsonSenior Research Manager, Customer Insights & Analysis

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Abstract

This IDC Market Presentation looks at the evolving and maturing digital transformation (DX) technology landscape, from states of capability, organizational priorities, and ever-growing levels of direct digital transformation technology investment.

"For the first time, IDC has forecast global DX spending to exceed $10 trillion over a five-year period," said Craig Simpson, senior research manager with IDC's Customer Insights and Analysis group. "While most DX projects remained on track in 2020 and into 2021 during the pandemic, IDC forecasts DX technology investments to accelerate in 2022, with a renewed drive toward more long-term strategic digital objectives. Beyond operational DX investments, customer experience is garnering some of the largest DX technology investments from consumer-oriented industries such as securities and investment services, banking, and retail."

"While 53% of enterprise organizations now (2021) state they have an enterprisewide digital strategy, a 16 percentage point or 43.2% increase from 2019, there are still another 47% of companies yet to plan holistically about digital. While strategy is a crucial first part of transformation, it still means that planning, investments, transformation of work, management systems, and performance monitoring still likely have another 5 to 10 years to go until the majority of global enterprise companies become digital organizations, which we do expect to see as levels of investment in these technologies continue to get larger and grow at even faster rates," states Shawn Fitzgerald, research director, Worldwide Digital Transformation Strategies.


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