Digital Transformation Spending In India To Reach $85 Bn By 2026: Report

Latest report suggests that Digital Transformation (DX) spending in India will reach USD 85 billion by 2026. 

The report further surmises that for 2022 and 2023, about 3/4th of the survey respondents indicated that they plan to spend more than what they have spent for DX initiatives in 2021 and another 20 per cent of the respondents expect to maintain the same level of DX spending as in 2021.

The top industries spending on DX in India are Manufacturing (discrete and process), professional services, banking, government, retail, and telecommunications.

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

“Through tech-enabled digital transformation, Indian organisations expect to reduce costs by increasing efficiency, improving security/risk capabilities and improving customer experience,” says the IDC Worldwide Digital Business Spending Guide, October 2022 release.

Investments aside, the most demanding part of the digital transformation journey is to ensure that the outcomes are measurable. Indian organizations are seeing the real benefits of DX initiatives in terms of revenue generation, time to market, and business agility.