|
|
|
Global digital transformation spending to reach $1.8 trillion this year
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 14 May, 2022
Global spending on the digital transformation (DX) of business
practices, products and organisations is forecast to reach $1.8 trillion
in 2022, an increase of 17.6 per cent over 2021.
The DX
priorities that will see the largest investment in 2022 include back
office support and infrastructure, smart manufacturing, and digital
supply chain optimisation.
Together, these three investment
areas will represent more than $620 billion in DX spending this year,
according to the International Data Corporation (IDC).
DX
spending will sustain this pace of growth over the 2022-2026 forecast
period with a five-year compound annual growth rate (CAGR) of 16.6 per
cent, it added.
"As organisations accelerate their pursuit of a
digital-first strategy, they are channeling these investments into both
internal operations and external direct engagement," said Craig Simpson,
senior research manager, Customer Insights & Analysis at IDC.
From
an industry perspective, the discrete and process manufacturing
industries will account for nearly 30 per cent of worldwide DX spending
this year, followed by the professional services and retail industries,
said the IDC.
The utilities and banking industries will also see DX spending of more than $100 million this year.
Meanwhile,
the financial services sector will deliver the fastest DX spending
growth over the 2022-2026 forecast period, with the securities and
investment services, insurance, and banking industries all forecast to
have five-year CAGRs of 19 per cent or more, the report noted.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|