Digital Transformation (DT) refers to integrating digital systems and technologies into otherwise conventional processes. Technology is considered a necessary work tool today without which conquering new customers and markets turns . The digital transformation market is expected to grow at a CAGR (compound annual growth rate) of 23% from 2019 to $3.3 trillion by 2025. So we will be detailing each one to help you understand how these trends can affect your business in the coming years. Digitally transformed organizations are projected to contribute to more than half of the global gross domestic product (GDP) by 2023, accounting for $53.3 trillion (IDC, 2020). Automation will power prescriptive guidance. Digital transformation: Harnessing the power of data science No matter what oil prices are, our industry will continue to need newly trained talent. Digital transformation isn't new. Top Digital Transformation Trends for 2022. Hyperautomation Across the Board . DIGITAL TRANSFORMATION WEEK NORTH AMERICA IN-PERSON & VIRTUAL EVENT | 5-6 OCTOBER 2022 SANTA CLARA CONVENTION CENTER, CA & VIRTUAL AI & BIG DATA BLOCKCHAIN CYBER SECURITY & CLOUD IOT EDGE COMPUTING 5G IN-PERSON & VIRTUAL EVENT ADVANCED DTX STRATEGIES FOR A 'DIGITAL EVERYTHING' WORLD REGISTER FOR FREE NOW Headline Sponsor Platinum Sponsor The key areas of focus for digital transformation vary widely by industry and by company, both within and among four strategic objectives: improving customer experience and go-to-market, innovation and growth in the core and beyond, improving performance in the operational value chain, and performance improvement in support . While 5G deployments in the. Agility will become a bigger priority. Web3--a blockchain-based web that includes cryptocurrencies, NFTs, DAOs, decentralized finance, and more--promises to transform the experience . 5-6 OCTOBER 2022 SANTA CLARA, USA 1-2 DECEMBER 2022 OLYMPIA, LONDON Digital Transformation Week The Digital Transformation Week is a series of in-person events and conferences consisting of top-level content and thought leadership discussions exploring the Digital Transformation ecosystem. Details This roadmap sets out a common cross-government vision for digital and data by 2025. Digital Transformation Trends and Projections Global spending on digital transformation is expected to reach $6.8 trillion by 2023 Digital transformation spending is expected to have a CAGR of 19.1% from 2021 to 2026 More than 90% of employers are planning to adopt a hybrid working model for their workers in 2022 According to Markets and Markets, the digital transformation market size is projected to grow at a compound annual growth rate of 19.1%, from $521.5 billion in 2021 to $127.5 billion in 2026. 9. 3. The global digital transformation market size was evaluated at USD 608.72 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 23.1% from 2022 to 2030. The data . In 2022, spending on digital transformation is projected to reach $1.8 trillion. Digital Transformation in Banking - Stats and Findings The Digital Banking Platform Market is expecting growth at CAGR of 11.2% from 2021 to 2026. Ana Andjelic. Investment levels for 2022-2024 are expected to be $6.3 trillion and are 55% of all ICT investment by the end of 2024. The Data Transformation Framework (DTF) is being developed to support organisations in understanding not only where they are currently, in terms of data maturity, but how they can improve, realising more value from their data - setting out what 'good data' looks like. Distributed cloud is the future of the cloud. However, the rise in remote work has made companies more vulnerable than ever. Significant factors driving this growth is the rapid evolution of digital strategies in the banking industry and the increasing demand of digital banking services among consumers. Enabling Digital Transformation and Driving Digital Ecosystem in Africa. Effectively equipping and enabling remote and hybrid work remained a critical digital transformation priority through much of 2021. In 2022, data protection and cybersecurity will be at the forefront of digital transformation. And technology and operational decisions need to be adaptive and aligned. I assisted in designing . As companies reimagine products and services for the digital world, customer data is the linchpin for creating fresh revenue streams and architecting new offerings. IT budgets will increase. Here are the top takeaways of the 7 trends shaping digital transformation in 2022 and beyond: Future of work built on connected, hybrid experiences Gartner estimates that the use of collaboration. In manufacturing, there are limitless applications for DT to enhance production practices. By Paula Rooney Jan, 28 2022 . Feb 16, 2022 In 2022, spending on digital transformation (DX) is projected to reach 1.8 trillion U.S. dollars. Low-code tools will become mainstream. A huge challenge of digital transformation is a cultural one. Product Engineering. Efficiency: Because easy-to-use tools are commonplace within digital transformation and data democratization . The ongoing emphasis on consumerism will continue to fast-track the development of best-in-class digital experiences for patients. The pandemic increased the adoption of digital automation technologies. 1 Our data this year affirms this finding: Higher-maturity organizations surveyed were far more likely than lower-maturity ones to significantly outperform their industry average on key financial metrics. ( Statista) By 2023, digitally transformed organisations are projected to contribute to more than half of the global GDP, accounting for $53.3 trillion ( IDC ). A complete course on digital transformation for 2022 - 7+ hours of videos, assignments, cases studies, and interviews. Internet of Things (IoT) had the largest share of the overall digital transformation market in 2019, but AR/VR technology is predicted to have the fastest growth until 2025. . How CIOs and IT leaders are staying on top of these trends and enabling innovation. On the other hand, 22% of medium and 2% of small companies plan to invest more than $1 million on digital initiatives in 2022. Although leaders expected that workers would return to offices at some . - Enable secure identity access in digital services. NEEDHAM, Mass., May 12, 2022 - Global spending on the digital transformation (DX) of business practices, products, and organizations is forecast to reach $1.8 trillion in 2022, an increase of 17.6% over 2021. Digital Transformation Adoption and Implementation. The framework outlines the . By 2025, global digital transformation spending is forecast to reach $2.8 trillion. And RPA is emerging to be an effective tactic for automation. Customer data is the key to a new competitive strategy driven by digital. (Forrester) Companies are expected to increase customer interactions via digital platforms by 40%. In fact, four of the top nine data privacy risks nominated by respondents to our 2022 Benchmark Survey are related to compliance in some way: Complying with recent regulations that have been put into force or will be in 2022 (37%) Implementing new cross-border data transfer mechanisms across geographies (22%) The aim of applying digital transformation is the benefit that all this brings. Last year saw the average cost of a data breach increase, averaging about $4.24 million per company. Andrew McAfee. Mordor Intelligence valued the worldwide digital transformation market at $998.99 billion in 2020 and forecasts an increase to $2744.68 billion by 2026. Gartner makes annual predictions of what will have the greatest influence on manufacturing strategies, operations, and agendas. 1. At top performers, respondents report capturing a median of 50 percent of the full revenue benefits that their recent transformations could have achieved, compared with a median of 31 percent across all respondentsand 40 percent of the maximum cost benefit, compared with 25 percent across all respondents. With the expectation of a $2.9 billion market in 2022, RPA is expanding rapidly. Sam Cao, an Assistant Professor in the Department of Entrepreneurship, Innovation and Technology at Stockholm . How IT and business teams are adapting to the future of work built on connected, hybrid experiences. Many manufacturers were blindsided by recent external disruptions to business. Distributed Cloud. Wi-Fi 6 is one thing that will make digital connectivity better than before. In 2022, IT and business leaders are taking a step back, looking at their organizations' agility and nimbleness over 2020 and 2021, and evaluating how well they pivoted to changing customer needs and supply chain risks. Global "Digital Transformation Services Market" 2022: - Digital Transformation Services Market report covers comprehensive data on the market growth drivers and challenges that the manufacturer. We appreciate your interest in Persistent and look forward to sharing valuable insights on 5G and Edge monetization that can help you drive the next wave of network transformation. Worldwide Spend On Digital Transformation. Digital Transformation Trends Shaping 2022 1. Cloud Technology: Cloud technology has been. In the last couple of years, we've seen rapid digital transformation take over with a large emphasis on cloud adoption. The distributed cloud gives businesses the power to connect data and applications across multiple locations, allowing for faster innovation and better resiliency. Attendees will come away from the event with a better understanding of how to: - Leverage data to enable digital transformation. September 20 - 22, Copenhagen. The researchers identified "data architecture," in other words, the way in which an organization's logical and physical data assets and data management resources are structured, as a crucial element of successful digital transformation. Enterprise Solutions. The steady development of innovations reached to peak in 2022. Digital transformation is an ever-evolving process to stay in touch with the latest trends to develop a pace throughout. This report covers the top seven technology trends that will determine the business landscape in 2022. It contains 6 missions that the government must deliver against to achieve the vision: transformed. Recommendations to use these trends to fuel digital . Here are the benefits Digital transformation technology offers to the healthcare industry in 2022. Organizations apply digital technology to increase business process efficiency,. In 2022, we can expect this trend to continue, if not increase. Data will become the backbone of customer experience. Observability: Driving Digital Transformation in 2022 and Beyond By Spiros Xanthos on January 11, 2022 Read more about author Spiros Xanthos. Based on a survey of 1,200 mid to large-scale US companies, the average digital transformation budget was $14 million in 2018, and spending on digital transformation worldwide is expected to reach $1.78 trillion in 2022. This is an increase of one full percentage point from the 15.5% CAGR we saw for the 2020-2023 time frame. Gerd Altmann. However, this number grows exponentially. "Though these will still be important in 2022 as well, these have been invested towards enough in the last two years," says Everest Group's Joshi. at a double-digit cumulative annual growth rate of 11.6% over the 2017-2022 period. 04-05 August, 2022 The Maslow Hotel Sandton, South Africa enquire for 2023 edition Entering the new era of emering technologies in Africa In the era of fourth industrial revolution, Africa is gaining its momentum in the areas of technology, innovation and digital investments. Report Overview. Digital transformation is a hot topic today. (Accenture) As we mentioned, digital stats revealed that the year-on-year increase in digital transformation spending was 10.4% in 2020. Let's look at five of the most exciting digital transformation trends shaping the future of business and how they can help your business grow in 2022. The COVID-19 pandemic posed a significant test for the entire world to endure the business congruity in between all the social distancing . Based on our collective research on companies undergoing digital transformation, we offer a simplifying framework to cut through the confusion and conflicting demands. Some digital technologies that are leading the way in the industry include: Machine Learning and Artificial Intelligence Benefits. Culture Mindset. Digital Adoption Team - August 29, 2022. Global spending is estimated to reach $1.78 trillion in 2022, followed by a huge jump to $2.3 trillion in 2023. 15% of organizations have prioritized digital transformation. By Thornton May. More than half (52%) of companies that exceed $1B in revenue have already completed digital transformation or are in process ()36% of large organizations are using AI to enhance data analysis, up 50% from the year prior ()Organizations are creating new digital business units, operating separately from parent companies, to grow digital revenue () With proper education and training at university. Data as creative material. Digital transformation positions the freight carrier well in a tight market for truckers, paving the way for improved operations and data-driven decision-making. For your information, 802.11ax will be known as Wi-Fi 6 and best known for its fast download speed. The present stage of digital transformation in the economy involves new business models and implements new information technologies. 70% of organizations have a digital transformation strategy or are working on one (PTC, 2019). 82% of larger enterprises, 74% of mid-level firms, and 57% of smaller American businesses consider digital initiatives critical to their business. High data availability, robust backup and disaster recovery capabilities . A new book explores ways companies can nurture revenue-generating digital customers. 1. Only time will tell, but here are my top 10 digital transformation predictions for 2022. Government and industry leaders will share practical, solutions oriented lessons on rethinking and delivering digital services. Here are some of the key elements of IDC's digital transformation predictions for 2022 (ZDNet emphasis), with selected comments from IDC executives: Direct digital transformation investments. However, in 2022, many of these initiatives will fall well short of expectation and business objectives, costing tens to hundreds of millions of dollars and burning countless hours of expensive data talent in . Just-in-time analytics will address the supply chain crisis. Now they are looking to update their systems and processes to become more resilient, more customer-focused, and more profitable. Topics of Focus. Digital transformation - Statistics & Facts Published by Statista Research Department , Jun 13, 2022 Digital transformation (DX), broadly defined, is the integration of digital technologies in all. 15. Services. Li Jing. 1. Distributed cloud will be an emerging digital transformation trend in 2022 as more and more businesses move to the cloud. Columnist, CIO May 2, 2022 3:00 am PDT. Indeed, it has been on the CIO's agenda for at least 35 years. Organizations with legacy systems and manual processes often have an old-school mentality. Thank you for stopping by the Persistent booth at the Digital Transformation World (DTW) in Copenhagen. Digital Transformation Trends for 2021/2022 The Pandemic Hastens the Shift to Digital Economy Faster Connectivity Multi-Cloud or Connected Cloud Solutions More Use Cases for Blockchain Increased Investment on ML and AI Discover our insights on how organizations can uncover and capture the full value of technology and innovation to radically transform their business. Digital possibilities must shape strategy. Last year's digital transformation study found that enterprises that apply the pivots broadly and deeply tend to perform better financially. Digital Transformation (DX) refers to integrating digital technology to achieve organizational growth. . This complimentary webinar breaks down the top five 2022 Gartner Predicts for Manufacturing and their impact on digital transformation strategy, including artificial intelligence, data orchestration, and customer and . Why It Matters. The Tourism Authority of Thailand (TAT), in cooperation with the Phuket Tourist Association and the Digital Economy Promotion Agency (DEPA), has announced that the 'Thailand Travelution 2022' event - which will focus on the importance of using technology and the insight of Big Data to help drive the Thai tourism industry's digital transformation - will be held on 18-19 November, 2022, at . Multi-Cloud Computing No cloud platform can fulfill the workload needs of your enterprise alone. Also, its per-connection device support will be more than the existing state. What Is Digital Transformation? Source: McKinsey Let's sum up the top digital transformation trends for 2022! Report Attribute/Metric: Details Market Size USD 140 Billion (2028) CAGR 40% (2022-2028) Base Year 2021 Forecast Period 2022-2028 65% of the world's GDP is predicted to be digitized by 2022 (IMF, 2020). The cloud migration services market valued at $88B in 2019 is expected to grow to $515B by 2027, reflecting a CAGR of nearly 25%. 5G Everywhere Last year I predicted that 5G would finally go mainstream in 2021. The global digital transformation market was valued at USD 998.99 billion in 2020 and is expected to reach a value of USD 2744.68 billion by 2026, at a CAGR of 17.42% during the forecast period of 2021-2026. New insights into the world's social media preferences By 2025, global digital transformation spending is forecast to reach 2.8 trillion U.S.. In comparison, the 2024 increase seems insignificant. In addition to digital transformation consulting, it offers a wide range of other services including data and analytics, security, automation, cloud, zero-based budgeting, mergers and acquisitions . Digital Transformation Statistics And Trends For 2022 Most talked about Digital Transformation Statistics 1. Roadmap, Design Thinking, and selecting Technologies and data enablers for Digital Transformation. Our new Digital 2022 Global Overview Report - published in partnership with We Are Social and Hootsuite - reveals that most of the connected world continues to grow faster than it did before the pandemic.. Big stories in this year's report include: Double-digit growth in social media users. Katie Parrott. Exhibit 1 Business leaders are increasingly recognising the advantages of leveraging data-driven approaches to improving customer experience and including this in their strategic . "Direct digital transformation (DX) investment growth rates are accelerating, up to 16.5% CAGR for 2022-2024. 9. In 2022, we'll be seeing more tangible uses of AI in remote monitoring and real-time care management platforms to support better outcomes and aid in clinical decision-making. [ Research and Markets] 13. There would be certain growth in this direction in 2023. (Forrester) 76% of managers agree that companies need to radically reengineer the experiences, bringing people and technology together in a more human-centric way. In a recent survey of manufacturers by Futurum Research, 67% of respondents said their organization had to rethink their entire business model . Digital Transformation. Global spending on DX is set to reach $1.8 trillion by 2022 and is predicted to increase to $2.8 trillion by 2025. Robotic Process Automation (RPA) One of the first steps of digital transformation for most industries is automation. - Collaborate via shared services. As we draw to the close of 2021, here are the top five trends in digital transformation in the UK, we see driving business growth and recovery. Knowing more about digitization can help you make more data-driven decisions about your digital transformation investments. The advantages are innumerable, however, the most fundamental ones would be increased productivity and reduced costs in order to operate more efficiently. According to a new update to the International Data Corporation Worldwide Digital Transformation Spending Guide, DX spending will sustain this pace of growth over the 2021-2025 forecast . Big gains for YouTube, Instagram, and TikTok. Mr. Rian Chapman, Thank you very much for the course content, explanations, great and motivational assignments, and also for . For every organization, a strategic approach to digital transformation is crucial. 84% of organizations with over 1000 staff members choose a multi-cloud strategy, despite the problems of identifying the expense and complications of ownership. Things change slowly, automation is looked down upon, and new technologies are difficult to adopt. Adopt customer data platforms to capture revenue, opportunities. In 2022, Worldwide IT Spending to forecasted to grow by 5.1% according to Gartner.