Digital transformation spending in India to reach $85 billion by 2026, says report

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As Indian organizations draw on cloud, automation, artificial intelligence (AI), network infrastructure, Internet of Things (IoT), and other advanced technologies to digitally transform, spending on digital transformation (DX) and IT modernization is expected to increase the most. is above. Mind of Indian companies According to intelligence and data firm International Data Corporation (IDC), more than 95 percent of Indian companies plan to increase DX spending or keep it at the same level in 2023, total DX spending in India to reach $85 billion by 2026 is expected to reach. , Research, manufacturing (discrete and process), professional services, banking, government, retail and telecom will be the top DX spending industries in India.

According to IDC, organizations in India are seeing real benefits of DX initiatives in terms of revenue generation, time to market and business agility. The top business outcomes organizations are looking to achieve with DX spending include reducing costs/increasing efficiency, improving security/risk capabilities, improving customer experience, expanding market/entering new markets, improving product This includes innovating faster, improving the employee experience, and reacting faster to regulatory compliance. ,

“Digital transformation has been a buzzword over the last few years among organizations across all industries and of all sizes. Digital transformation aims for long-term survival and remains relevant by building resilience and adaptability into the organization. About Adopting DX Right “Technologies, combined with people, processes and operations, give organizations the ability to evolve and respond in the best possible way to unpredictable and dynamic market conditions,” said Neha Gupta, Senior Research Manager, IDC India.

The India Digital Transformation (DX) 2022 survey conducted by IDC on 504 IT decision makers from Indian organizations reveals that for 2022 and 2023, nearly 3/4 of respondent companies indicated they are spending more than they have planned planned to do. DX initiative in 2021, and another 20 percent of respondents to maintain the same level of DX spending in 2021.

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