65% of the world’s GDP is set to be digitalized by 2022 and direct digital transformation (DX) investments will total $6.8 trillion between 2020 and 2023. That’s according to the latest predictions from International Data Corporation (IDC), which expects end-user organizations to continue building on their existing strategies and investments as they strive to become digital-at-scale enterprises of the future.
“The COVID-19 pandemic and subsequent economic fallout has accelerated digital transformation across the Middle East, Turkey, and Africa (META), spurring unprecedented demand for contactless services, cloud solutions, and collaboration applications as governments and businesses sought to rationalize IT costs and provide access to an increasingly distributed workforce,” says Jyoti Lalchandani, IDC’s group vice president and managing director for the META region.
“As the focus on operational efficiency intensified, tech-enabled automation became a key priority, reshaping organizations’ processes and operations.
“Most economists predict a return to economic growth in 2021 as a vaccine becomes widely available. As this recovery begins, the focus of end-user organizations will revert to business growth and new investment. But the technology investments made during the pandemic will ensure that the ‘Next Normal’ that emerges will be very different from the pre-COVID economy. Indeed, by 2022, 70% of all organizations globally will have accelerated their use of digital technologies, transforming existing business processes to drive customer engagement, employee productivity, and business resiliency.”
Given this significant expansion in the digital economy, and with digitally transformed enterprises accounting for a much larger share of the market, IDC is urging technology providers to reset and refresh their strategies as their customers recover and begin preparations for the ‘Next Normal’.
“The demand for IT has changed dramatically as a result of COVID-19, with almost every segment of the market being impacted by massive changes in customer behavior,” says Del Prete.
“We predict that direct investment in digital transformation will grow at a healthy compound annual growth rate (CAGR) of 15.5% globally between 2020 and 2023, while non-DX ICT investment will contract at a CAGR of -1.4% over the same period. And as more and more companies become fully transformed from the less than 20% of enterprises today, relative GDP from digitalized products and services will expand exponentially.”
How much technology is too much technology? Tech has inevitably become asApril 15, 2021 | By Shruthi Nair
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
The various e-commerce and virtual retail stores that cater to different product
According to a new report by GlobalData, the penetration of online sales
In a 180-degree turn from 2020, retailers’ expansion plans are outpacing plans
Research by GlobalData found that eBay’s job postings in the US and
The region was a trading hub for the rest of the world
Name: Mouna Abbassy Company: izil Designation: CEO The creative force behind
The UAE is known to be a global hub for a range
London based luxury retail and branding experts, House of Luxury (HOL), is celebrating their
Data presented by Fraîcheur Paris indicates that beauty products accounted for 22% of the
British fast-fashion retailer Primark says it has no plans to sell its
H&M has announced its collaboration with American denim brand LEE to push