Digital transformation spending to reach $2.8 trillion in 2025

guest · Nov 17, 2021

Digital transformation spending to reach $2.8 trillion in 2025
November 17, 2021
https://www.helpnetsecurity.com/2021/11/17/digital-transformation-spending-2025/

Global spending on the digital transformation (DX) of business practices, products, and organizations is forecast to reach $2.8 trillion in 2025, more than double the amount allocated in 2020.

According to a new update to the IDC Worldwide Digital Transformation Spending Guide, DX spending will have a compound annual growth rate (CAGR) of 16.4% over the 2021-2025 forecast period as organizations pursue a holistic digital strategy for people, processes, technology, data, and governance.

“For the first time, IDC has forecast global DX spending to exceed $10 trillion over a five-year period,” said Craig Simpson, senior research manager with IDC’s Customer Insights and Analysis Group.
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The industries that will see the largest DX spending throughout the forecast are discrete and process manufacturing, followed by professional services and retail. Combined, the two manufacturing industries will account for nearly 30% of all DX spending, totaling more than $816 billion in 2025.

The industries that will experience the fastest growth in DX spending over the 2020-2025 forecast are construction (21.0% CAGR), securities and investment services (19.2% CAGR), and banking (19.0% CAGR).
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