India's digital transformation to reach $85 bn by 2026

CIOTechOutlook Team | Tuesday, 06 December 2022, 08:40 IST

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The digital transformation (DX) spending in India is likely to reach $85 billion by 2026 as organizations in the country aim to reduce the costs by increasing efficiency, improving security/risk capabilities, and improving customer experience via tech-enabled digital transformation, according to sources.

More than 95 per cent of Indian companies plan to increase DX spending or keep at the same level in 2023, according to the IDC.

During the pandemic, digital transformation aided Indian organizations to survive the challenges and sustain competition.

The lockdown and remote working forced organizations to charter the course for digitisation efforts.

According to IDC research, manufacturing (discrete and process), professional services, banking, government, retail, and telecommunications are the top industries spending on DX in India.

"DX is all about embracing the right technologies; combined with people, processes, and operations that give organizations 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.

Indian organizations are gravitating towards the cloud, automation, artificial intelligence (AI), network infrastructure, Internet of Things (IoT), and other advanced technologies to transform them digitally.

"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," said Rithika Ponnala, senior market analyst, Digital Transformation practices, IDC India.

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