Why digital transformation investment will hit almost $2 trillion – and the drivers of it
Why digital transformation investment will hit almost $2 trillion – and the drivers of it Across the globe, savvy CIOs and CTOs are deploying a wide variety of new technologies to enable their digital strategies. A hybrid IT infrastructure is the norm, where on-premises systems coexist with public cloud service offerings. Together, these ICT platforms create the foundation for an evolving suite of software applications and associated digital business processes. Worldwide spending on the technologies and services that enable the digital transformation (DX) of business practices, products, and organisations is forecast to reach $1.97 trillion in 2022, according to the latest market study by International Data Corporation (IDC). Digital transformation market development IDC now forecasts that DX spending is expected to steadily expand throughout the 2017-2022 period, achieving a five-year compound annual growth rate of 16.7 percent. "IDC predicts that, by 2020...