The digital transformation (DX) spending in India is expected to reach $85 billion by 2026, as Indian organisations aim to reduce costs by increasing efficiency, improving security, and enhancing customer experience through tech-enabled digital transformation, said an International Data Corporation (IDC) report on Tuesday.
More than 95 per cent of Indian companies plan to increase DX spending or maintain at the same level in 2023, the report added.
DX is about accepting the right technologies. It combines people, processes, and operations that give companies the ability to develop and react to unpredictable and dynamic market conditions.
Manufacturing (discrete and process), professional services, banking, government, retail, and telecommunications are the top industries spending on DX in India. Indian companies are leaning towards the cloud, automation, artificial intelligence (AI), network infrastructure, Internet of Things (IoT), and other advanced technologies to transform digitally.
The IDC experts also warned that current headwinds such as IT supply chain disruptions, inflation, and global geopolitical issues will possibly persist, but Indian companies must see these factors as enablers of digital transformation.
During the COVID-19 pandemic, digital transformation helped Indian organisations survive the challenges and sustain competition. The lockdown and remote working forced the companies to pave the way for digitisation efforts.