Here at Perficient, there is some debate on whether Digital Transformation is a trend with a short life or whether it has a much longer life. I believe it’s the latter. The term may change but the root causes of the digital economy will not change. That’s what makes this IDC Report on the Emergence of The DX Economy so interesting. (Note: thanks to Daniel Rabbit for pointing this out.)
IDC predicts that the scale-up of digital business strategies will drive more than half of enterprise IT spending within the next 24 months, rising to 60% by 2020. Mastery of 3rd Platform technologies will be table stakes for successfully executing DX business initiatives and “Cloud First” will become the new mantra for enterprise IT.
We are starting to see the same trend at many of our clients. The justification almost always has a root cause of the importance of the digital channel. Opportunity or competition drives that investment. Of course that leads me to the next quote:
“The disruptive impact of digital transformation is about to be felt in every industry as enterprises ‘flip the switch’ and massively scale up their DX initiatives to secure a leadership role in the DX economy,” said Frank Gens , Senior Vice President and Chief Analyst at IDC. “In the next two years, two-thirds of Global 2000 CEOs will put DX at the center of their growth and profitability strategies. By the end of this decade, IDC predicts that the percentage of enterprises with advanced DX strategies and implementations will more than double.”
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The bottom line is that this trend won’t stop anytime soon. IT, Marketing, and various business units already view this as important and have allocated funds.
You can see the entire report with a registration for the recorded webinar btw.