In 2024, spending on digital transformation (DX) is projected to reach 2.5 trillion U.S. dollars. By 2027, global digital transformation spending is forecast to reach 3.9 trillion U.S. dollars.
What is digital transformation?
Digital transformation refers to the adoption of digital technology to transform business processes and services from non-digital to digital. This encompasses, among others, moving data to the cloud, using technological devices and tools for communication and collaboration, as well as automating processes.
What is driving digital transformation?
Digital transformation growth is due to several contributing factors. Among these was COVID-19 pandemic, which has increased the digital transformation tempo in organizations around the globe in 2020 considerably. Although the pandemic is over, working from home among organizations globally has not only remained, but also increased, increasing the drive for digital transformation. Other contributing causes include customer demand and the need to be on par with competitors. Overall, utilizing technologies for digital transformation render organizations more agile in responding to changing markets and enhance innovation, thereby making them more resilient.
Spending on digital transformation technologies and services worldwide from 2017 to 2027
(in trillion U.S. dollars)
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Statista. (May 30, 2024). Spending on digital transformation technologies and services worldwide from 2017 to 2027 (in trillion U.S. dollars) [Graph]. In Statista. Retrieved December 24, 2024, from https://www.statista.com/statistics/870924/worldwide-digital-transformation-market-size/
Statista. "Spending on digital transformation technologies and services worldwide from 2017 to 2027 (in trillion U.S. dollars)." Chart. May 30, 2024. Statista. Accessed December 24, 2024. https://www.statista.com/statistics/870924/worldwide-digital-transformation-market-size/
Statista. (2024). Spending on digital transformation technologies and services worldwide from 2017 to 2027 (in trillion U.S. dollars). Statista. Statista Inc.. Accessed: December 24, 2024. https://www.statista.com/statistics/870924/worldwide-digital-transformation-market-size/
Statista. "Spending on Digital Transformation Technologies and Services Worldwide from 2017 to 2027 (in Trillion U.S. Dollars)." Statista, Statista Inc., 30 May 2024, https://www.statista.com/statistics/870924/worldwide-digital-transformation-market-size/
Statista, Spending on digital transformation technologies and services worldwide from 2017 to 2027 (in trillion U.S. dollars) Statista, https://www.statista.com/statistics/870924/worldwide-digital-transformation-market-size/ (last visited December 24, 2024)
Spending on digital transformation technologies and services worldwide from 2017 to 2027 (in trillion U.S. dollars) [Graph], Statista, May 30, 2024. [Online]. Available: https://www.statista.com/statistics/870924/worldwide-digital-transformation-market-size/
