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What's Powering Digital Transformation?

Digital Transformation or “DX.” CIO magazine says it’s “the acceleration of business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way.” But what’s driving this new era of transformation? Consider these surprising DX statistics:


why companies are adopting DX

Companies report these TOP DX DRIVERS:1

53 %

Growth opportunities in new markets

49 %

Increased competitive pressure

42 %

New standards in regulatory compliance

55 %

Evolving customer behaviors and preferences

Because they realize these TOP DX BENEFITS:1

41%

Increase market share

37%

Positive impact to employee morale

37%

Increased customer engagement in digital channels

32%

Greater volume of web and mobile traffic

30%

Increased customer revenue

To Realize these Benefits, Companies Have Prioritized these TOP DX INITIATIVES:1

 

innovation

 
 

Improving Operational Agility

HOW MUCH COMPANIES ARE SPENDING ON DX

DX Spending is on a Rapid Rise

$2.1 Trillion

the worldwide spending on DX technologies by 20192

18%

in 2016


28%

in 2018

Fastest DX Growth Industries in the U.S.2

retail

retail

telecommunications

telecommunications
healthcare providers

healthcare providers

Digital transformation spending growth is outpacing IT spending

2.5 to 14

but it's only the beginning

Digital Strategy

Only 3 in 20 companies have a clear digital strategy5

Mastered Point

Just 1 in 20 companies feel they have mastered digital to a point of differentiation6

execute on a digital strategy

only

29%

are completely ready to execute on a digital strategy6

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  1. Altimeter, 2016 State of Digital Transformation
  2. IDC Worldwide Semiannual Digital Transformation Spending Guide, January 2016
  3. Gartner 2017 CIO Agenda Survey, October 2016
  4. IDC Financial Insights, June 2015
  5. MIT Sloan Management Review
  6. Forrester, Digital Transformation in the Age of the Customer, October 2015