Beancounters at IDC are forecasting that customers will be splash out on more digital transformation projects.
The analyst outfit said that spending on digital transformation will hit $1.8 trillion this year, an increase of 17.9 percent on 2018.
That growth is set to continue over the next few years and the money will be flowing across all vertical markets.
Eileen Smith, program vice president with IDC’s Customer Insights & Analysis group said: “Worldwide digital transformation technology investments are expected to total more than $6 trillion over the next four years. Strong digital transformation technology investment growth is forecast across all sectors, ranging between 15 percent and 20 percent with the financial sector forecast to be the fastest with a compound annual growth rate (CAGR) of 20.4 percent between 2017 and 2022.”
Craig Simpson, research manager with IDC’s Customer Insights & Analysis group said: “It is already clear from our research that the businesses which have invested heavily in DX over the last 2-3 years are already reaping the rewards in terms of faster revenue growth and stronger net profits compared to businesses lagging in DX initiatives and investments.”
