According to a new report by research firm IDC, spending on digital transformation in India is expected to reach $85 billion by 2026. The report states that the growth in spending on digital transformation is being driven by a number of factors, including the increasing adoption of cloud computing, the proliferation of mobile devices, and the growing demand for data analytics.
According to a survey conducted by International Data Corporation (IDC) among 504 IT decision-makers in India, 75% of respondents plan to increase their spending on digital transformation initiatives in 2022 and 2023 compared to the previous year. Another 20% of respondents plan to maintain the same level of spending. IDC estimates that digital transformation spending in India will reach $85 billion by 2026.
The report also highlights the importance of digital transformation for businesses in India, stating that it can help organizations to become more agile and efficient, improve customer experiences, and drive innovation. Additionally, the report notes that digital transformation can also help to create new jobs and opportunities in the Indian economy.
IDC found that manufacturing, professional services, banking, government, retail, and telecommunications are the top industries spending on digital transformation initiatives.
The study also found that the Indian government is playing an important role in promoting the adoption of digital transformation technologies, through initiatives such as the Digital India program and the Make in India campaign. Overall, the report paints a positive picture of the future of digital transformation in India.
“The current headwinds such as IT supply chain disruptions, inflation, and global geopolitical issues, are likely to persist. Indian organizations must look at these factors as enablers of Digital Transformation. Taking aid from technology to save costs and remain competitive in these uncertain times will make them resilient and keep them ahead of the competition,”
Rithika Ponnala,, Senior Market Analyst, Digital Transformation practices, IDC India.
“DX is all about embracing the right technologies; combined with people, processes, and operations that give organisations 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.
Source: IDC
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