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.”
Legal and social barriers that exist for women’s access to jobs isJanuary 18, 2021 | By Shruthi Nair
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
Homegrown, organic and plant milk company, Koita has announced its expansion into
Today’s on-demand streaming services are ripe with docu-series and explainer videos on
International food retailer, SPAR has today announced a global partnership to tackle food waste with the
UAE-based concept grocery retail chain, Grandiose has opened a new supermarket within
US-based fast food chain, Nathan’s famous Inc. brings another New York classic,
H&M has announced its collaboration with American denim brand LEE to push
Research from beauty comparison website, Cosmetify, has just revealed that the UAE
Legal and social barriers that exist for women’s access to jobs is
As the one-year mark of the Covid-19 pandemic approaches, more consumers continue
Every human being on this planet is a customer. There isn’t a
Back in 2017, the six GCC member states got together to make
There couldn’t be a better way to end the dreadful year that
Majid Al Futtaim has opened its first Carrefour store in Tashkent, Uzbekistan.
Global footwear brand Skechers is helping thousands of children impacted by the
Dubai Duty Free’s 72 hours anniversary sale from December 18 to December 20,
Gulf Marketing Group (GMG), one of the Middle East’s leading family-owned holding
In what has become an annual shopping spree, Dubai Duty Free will