An increasing number of businesses are spending the lion’s share of their IT budgets on digital transformation (DX) technologies. But many businesses are not — and the high speed at which DX is reshaping industries is leaving some vendors and end users behind. As the DX wave continues to gain velocity, the question must be asked: Can these businesses catch up?
The global economy may be slowing again. A trade war between the US and its largest trading partners is threatening to disrupt short-term projections for the second half of 2018 and 2019. Even if the current tensions give way to new trade agreements in the interests of stability, most economists expect the US economy to post a contraction by 2020, as interest rates increase and cyclical factors come into play. Historically, the US economy is overdue for a contraction, having posted a long streak of growth since 2009.
Read this blog for an overview on where the conversation surrounding the massive DX Spending trend is taking us — to a more granular and focused discussion, in which the size of the market is far more relevant. Learn why those that speak of DX only in the context of business model change are missing the mark.
Unlike a few years ago, U.S. federal civilian agencies are not seeing double-digit annual growth in information technology spending. But moderate growth is still underway. Some of these spending increases are happening because agencies face significant ongoing expenses related to maintaining legacy systems.
While it’s no surprise to learn that ICT spending continues moving to the 3rd Platform, or that new technologies like AR/VR and cognitive AI continue to deliver double-digit rates of growth during the current early stages of deployment and prototyping, there are many geographic differences in the way that new categories are gaining traction (or not) in different country markets and what this means for the likely economic benefits in the next 5-10 years.