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Research

Research says spending on technologies and services for digital transformation will rise

IDC, a research firm that has been releasing facts in relation to digital transformation spending in the enterprise, said that the figures are set to rise for this year.

In a report by Zdnet.com, enterprises will be spending more on technologies and services for digital transformation including applications, connectivity services, and IT services.

According to IDC’s report, businesses will be spending $1.1 trillion on digital transformation technology and services this year, a 16.8 percent increase over the spending last year worth $958 billion.

Discrete and process manufacturing are reported to be the heaviest spenders with a combined total spending of $333 billion, with the key spending areas on material optimization, logistics automation, smart asset management, autonomic operations, and digital supply chain optimization.

Landing on the second and third highest spenders are construction and retail businesses , prioritizing digital grid, omni-experience engagement, omnichannel commerce, and innovation acceleration.

DC’s Customer Insights & Analysis Group Research Manager Craig Simpson said: “Some of the strategic priority areas with lower levels of spending this year include building cognitive capabilities, data-driven services and benefits, operationalizing data and information, and digital trust and stewardship.”

“This suggests that many organizations are still in the early stages of their digital transformation journey, internally focused on improving existing processes and efficiency. As they move into the later stages of development, we expect to see these priorities, and spending, shift toward the use of digital information to further improve operations and to create new products and services,” he added.

(Photo source: naiopmablog.org/ ttec.com)