20 Digital Transformation Statistics You Should Know

You can hardly overestimate the role of digital technologies in modern companies’ activities. Many players in various industries are holistically integrating IT solutions and put a premium on the digital ecosystem. This trend both creates new challenges and opens up immense development opportunities, changing the established game rules.

The current stage of digital transformation in the economy widely involves new business models (fintech, uberisation, ecosystems) and implements modern information technologies (chatbots, predictive analytics, machine learning, blockchain, the industrial internet of things, etc.).

You can read more about all the benefits that such a transition provides in our article: “What Is Digital Transformation in Business, and What Advantages Does It Have?” Today we will share some interesting facts, figures, and statistical data about digital transformation with you. They will help you better comprehend this market in 2022.

1. That’s according to a new update from research firm Gartner Inc. of its first prediction in January that IT spending would hit $3.9 trillion this year as the COVID-19 pandemic continues to act as a catalyst for digital transformation in just about every major industry. [Gartner Inc.]

2. The priority tech spending areas for 2021 are expected to be augmented reality and virtual reality (AR/VR). mixed reality, Internet of Things (IoT), artificial intelligence (AI), robotics and cloud. [business-standard.com]

3. Today’s macro-economic disruption has failed to dampen digital transformation plans, with 52 percent* of companies stating they will increase their spending on digital transformation, according to a global research study from IFS. [IFS.com]

4. Due to World Economic Forum report, the prize from the digital transformation of industries could be in the region of $100 trillion over the next decade. [Weforum.org]

5. 30% of jobs are likely to be automated by the mid-2030s in the developed and successful developing countries of the world.

6. The global market for industrial robotics accounts for $16 billion, with five countries – China, Japan, South Korea, the United States and Germany – accounting for 74% of sales of such robots.

7. An illustrative example of digitalization of the company’s internal business processes is the saving of more than 40% of the time of ŠKODA AUTO HR team after the implementation of a virtual recruitment assistant based on IBM Watson services.

8. In 2021, digital leaders will use a mix of low-code, remote process automation, and integration technologies to improve customer and employee experiences in more business areas and at a greater scale. [TechTarget.com]

9. A study by The Boston Consulting Group3 clearly shows: companies at the forefront of using big data generate 12% more income than those who don’t use big data. [BCG.com]

10. Spending on digital transformation technologies and services worldwide from 2017 to 2024, rise from 0,6 to 2,39 trillion U.S. dollars. [Statista.com]

11. Strategic IT projects will be back at the top in 2021 as CIOs take on a long-term strategic perspective. [iot-analytics.com]

12. 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. [Research and Markets]

13. 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. [Research and Markets]

14. 81% of enterprises have at least one application or a segment of their computing infrastructure in the cloud today. 13% of enterprises with over 1K employees have migrated their entire IT environment to the cloud as of today. [IDG Communications]

15. 87% of companies think digital will disrupt their industry, but only 44% are prepared for potential digital disruption. [Deloitte]

16. The implementation of digital technologies can help accelerate progress towards enterprise goals such as financial returns, workforce diversity, and environmental targets by 22% [Deloitte, 2020].

17. Only 23% of companies are not dependent on digital products or operations. [Harvard Business Review] (dgt5)

18. Among the skills needed to support digital transformation, technology integration and implementation to the list at 49% [CIO, 2020].

19. Less than 30% of the organizations’ technology vendors are currently active partners in their digital transformation initiatives although partnering with vendors is one of the best practices to avoid failure. [Aimultiple.com]

20. 38% of executives plan to invest more in technology to make it their competitive advantage [McKinsey, 2020].

To sum up

The coronavirus pandemic has spurred the adoption of digital solutions, tools and services in companies around the world, thereby accelerating the global transition to the digital economy. We hope this article helps us convey the importance of digitalization in this new reality.

And if you need help or support on your digital transformation journey, Lvivity can be your trusted partner for such a project. Contact us to learn more about us and our capabilities.