Digital Transformation - What is it?
Digital Transformation is increasing in demand and competition from our analysis. Organisations are looking for ways to become increasingly more efficient and effective, leading global businesses are transforming business processes and procedures to leverage digital infrastructure and solutions. The key technologies involved in this transformation are 5G, AI, Big Data Analytics, Cloud/Edge Computing, Wearable Devices, IoT Solutions, Robotics, and Virtual Reality Solutions. These technologies will all be germane to the evolution of many areas important to enterprise and industrial organisations including internal and external processes, products and services, virtualization, OSS/BSS, and more.
The market is projected to grow from USD 290.0 billion a couple of years ago to USD 665.0 billion by 2023, up 129.31 %↑
Europe market is expected to grow from US$ 92.7 Bn in 2017 to US$ 520.4 Bn by the year 2025 with a CAGR of 26.0%↑ from the year 2018 to 2025.
Digital transformation is the profound revolution of growth and development of organisational activities, processes, competencies, trends and models that fully leverage the changes of digital technologies and their accelerating impact across a society in a strategic and prioritised way, with present and future shifts in mind.
While we enter into Industry 4.0, digital transformation is at the forefront. Industry 4.0 was built on the availability of digital technologies that were the result of the third. Digital transformation is not just about disruption or technology; it is about the future.
While digital transformation is predominantly used in a business context, it is present in areas all around us. Organisations such as governments, public sector agencies and medical organisations are going to go through a revolution in transformation technologies, involved in tackling societal challenges such as global warming, economic housing, homeless crisis, or overcrowding hospitals or tackling the covid virus. Digital transformation must utilise innovative digital technologies for better solutions.
In Japan, digital transformation aims to impact all aspects of life with the country’s Society 5.0 initiative, which goes far beyond the limited Industry 4.0 vision in other countries.
There are many reasons why enterprises invest in digital transformation. Better IT investments to achieve business outcomes and customer experience that aligns with the business bottom line. Digital Transformation and ICT play an integral part of business success outcomes; digital investments cannot be overlooked. The digital revolution shows us the opportunity that organisations can leverage emerging technologies that will alleviate operation times and create new beams of opportunity and revenue for all industries.
If you are a business owner looking to invest in digital transformation, reach out to us, we can improve your operational processes and therefore improve your business outcomes. We work with you through customer experience driven by flexibility & agility that delivers effective, tangible and measurable results.