Research firm IDC posits that enterprises will ramp up spending this year on technologies and services that enable digital transformation, including applications, connectivity services, and IT services.
The analyst house regularly doles out facts and figures related to digital transformation spending in the enterprise. For 2017, IDC estimates that worldwide spending on digital transformation technologies — hardware, software, and services — hit $1.3 trillion.
This latest spending guide aims to shed some more light on where digital transformation funding is being spent as well as what digital transformation priorities are most pursued. By IDC’s estimates, businesses will spend $1.1 trillion in 2018 on digital transformation technology and services, an increase of 16.8 percent over the $958 billion spent in 2017.
Digital transformation involves using digital technologies to retool business models and processes to make them more efficient or effective. For large, legacy enterprises, digital transformation projects often provide a means to compete with nimbler, digital-only rivals.
By industry, IDC highlights discrete and process manufacturing as the heaviest spenders, with roughly $333 billion in combined total spending. These two industries will also set the agenda for many digital transformation priorities, programs, and use cases, IDC notes. The…