Worldwide spending on digital transformation (DX) technologies and services is expected to increase by 10.4 percent in 2020 to 1.3 trillion U.S. dollars, despite the challenges presented by the COVID-19 pandemic. Across different sectors, DX spending will see compromised yet still strong growth, ranging from eight to 13.8 percent.
Digital transformation
Digital transformation (DX) can be defined as the integration of digital technologies in all areas of a business that lead to improved operational processes as well as more value being delivered to customers. DX enables a more agile and intelligent way of doing business, making use of technologies such as advanced analytics and artificial intelligence (AI). The global digital transformation market has been growing rapidly in recent years and is forecast to be worth 2.3 trillion U.S. dollars by 2023.
A global embrace of digital transformation amidst COVID-19
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IDC. (May 20, 2020). Digital Transformation spending growth forecast worldwide by sector in 2020, pre and post COVID-19 [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1127865/worldwide-digital-transformation-spending-covid/
IDC. "Digital Transformation spending growth forecast worldwide by sector in 2020, pre and post COVID-19." Chart. May 20, 2020. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1127865/worldwide-digital-transformation-spending-covid/
IDC. (2020). Digital Transformation spending growth forecast worldwide by sector in 2020, pre and post COVID-19. Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1127865/worldwide-digital-transformation-spending-covid/
IDC. "Digital Transformation Spending Growth Forecast Worldwide by Sector in 2020, Pre and Post Covid-19." Statista, Statista Inc., 20 May 2020, https://www.statista.com/statistics/1127865/worldwide-digital-transformation-spending-covid/
IDC, Digital Transformation spending growth forecast worldwide by sector in 2020, pre and post COVID-19 Statista, https://www.statista.com/statistics/1127865/worldwide-digital-transformation-spending-covid/ (last visited September 01, 2024)
Digital Transformation spending growth forecast worldwide by sector in 2020, pre and post COVID-19 [Graph], IDC, May 20, 2020. [Online]. Available: https://www.statista.com/statistics/1127865/worldwide-digital-transformation-spending-covid/