IDC Digital Transformation Guide Shows Growth Amid The Covid according to the update of the World Digital Transformation Guide for the International Data Corporation (IDC).
Update to the World Digital Transformation Guide for the International Data Corporation (IDC). Despite the COVID-19 pandemic, investment in the digital transformation of processes, goods, and institutions proceeds strongly. We expect total DX technology and services investment to increase to $1.3 trillion by 10.4 percent by 2020. This is one of the few highlights of the year. This is slightly less than a 17.9 percent increase in the year 2019.
Covid on global economy
Craig Simpson, IDC’s Senior Research Manager, said: “COVID-19 has improved the global economy. Despite its immediate negative effects on the way corporations invest in IT. “Investments in the DX technology decreased by less than two points relative to the pre-COVID-19 forecasts of IDC.
The hardest hit
The markets that predicted to see the slowest growth in DX investment over the last year. Since they are the ones that have the biggest effect on the pandemic. These are personal and consumer facilities, which include restaurants, parks, casinos, or movie theaters, but projected to rise this year by just 5.3 percent. Compared to an 18.4 percent spike in 2019 in the DX budget. Likewise, the most important DX investment sectors this year will rise by 6.6%, down from 14.5% growth in 2019. Construction (16.3 percent) and healthcare (15.7 percent) projected to rise the fastest in terms of DX spending in 2020; all spending will increase but less than last year.
“COVID-19 washed almost 500 trillion dollars from our pre-COVID-19 estimate for the period 2020-223 from the global DX technology resources,” said Eileen Smith, vice president of IDC’s Consumer Insights. “Nevertheless, there are hopes of growth in the industry for the profound use of particular market cases. Some examples are insurance processing for RPA. Similarly, digital education visualization, telecommunications industry channels on the omnichannel, and organizational excellence in process development.
For the DX applications, supported to achieve a clear program goal. The most expended this year include autonomous (51 billion dollars). Besides, the manufacturing of robots (47 trillion dollars) and root cause (35 trillion dollars). All of which powered by the manufacturing industry. The DX with the fastest year-on-year investment increase is computer visualization and virtualized laboratories in the education field. Further, the robotic process automation-based insurance claims collection and improved design management in the professional services industry.
DX spending geo-market
The US is the biggest DX spending geo-market, providing nearly one-third of the global spending by 2020. The second-largest area for DX investment will be Western Europe after China close-by. Both areas will produce the highest annual rise in DX investment for both China and Western Europe, with 13.6 percent and 12.8 percent.
IDC guides for spending
The IDC Spending Guides offer a gritty view from a geographic, vertical sector. Besides, case consumers, customers, and technology point of view of main innovations markets. The spending guides are given by pivot table format or custom query tool. Consequently, makes it easier for users to collect valuable business knowledge via data patterns and relationships.
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