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Digital Transformation & Growth Solutions Relevant Statistics for 2021-2023 

We hear everywhere that digitalization is inevitable and vital at the moment, which is very accurate. But what implications does this digitalization have on the market and business growth?

We have gathered more information and statistics that show us the evolution of certain digitalization technologies that are desirable in any company for a better work process. They will help you make a better decision when choosing whether to digitize or not or what software would be appropriate to implement. If you think you are digitized enough for your business to run smoothly, this is very good, but if you know that there can be done more improvements and are not sure how to do software selection, we recommend reading this article

Global digital transformation

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Let’s dive into some global statistics about digital transformation.

  • By 2025, the market of the digital transformation is estimated to grow from $469.8 billion to $1,009.8 billion (Research&Markets, 2020)
  • From 2017 to 2024, the spending on digital transformation technologies and services worldwide will increase up to 2,39 trillion U.S. dollars. (Statista)
  • Revenues from the global AI market are expected to reach 327.5 billion U.S dollars in 2021. It is it forecast a fast growth of profit by 2024. (Statista)
  • The prognosis for worldwide spending on IoT by 2023 was 1.1 trillion U.S. dollars, as estimated in 2019. Europe is the third region to hold a large share of the IoT market. (Statista)

Cloud facts and statistics

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An essential step in the digital transformation is moving to the cloud. By 2021, worldwide cloud spending is estimated to reach 565 billion U.S. dollars. So, let’s get through some cloud-relevant statistics to give you more idea about its importance. 

  • More than 70% of businesses have a combination of legacy and modern cloud technologies, and it showed the growth of cloud migration from year to year. (Sigma)
  • As mentioned above, there will be an exponential growth of cloud infrastructure, at over 40%. Cloud infrastructure represents the fastest growing cloud services. 
  • 74% of tech CFOs mentioned that cloud computing depicts the most measurable impact on a business. (TechPriceCrunch)

Enterprise Resource Planning statistics

ERP benefits for fully digitized and connected organizations are multiple, but here we present 7 key benefits of ERP System Integration that fits any business. According to FinancesOnline, worldwide, the ERP market outlines growth. 

  • This year, the global ERP software market is about to reach $95.37 billion, a significant rise since last year, which we all know was a difficult one. 
  • By 2024, the compound annual growth rate is about to be 0.7% from 2022. 

Some specific insights about the market, the consumption of the ERP software by different industries are presented in a report created by Panorama Consulting Group. In short, here are the top consumers of ERP software from the past year:

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Panorama Consulting Group

Enterprise content management facts and statistics

Numbers at the global level, but at the same time, particular examples show the advancement produced by ECM. Of course, cost savings remain one of the top benefits, and a good example is a large company with 1000 engineers that can see savings as $27 million annually by using ECM. Imagine how much your company can save!  

Besides this particular example, how the big picture will look in the future? How the ECM market looks like, and how will it look in the next few years?

  • From 2021 to 2027, the ECM market revenue is expected to increase to 15 billion dollars. (Statisa)
  • Global Enterprise Content Management Market is projected to grow at a CAGR of 14.0 % in the 2019-2026 period. (FortuneBusinessInsight)     
  • The market dynamics show the increasing demand for business optimization and the adoption of ECM. (FortuneBusinessInsight)

Conclusion 

The global image of the market and its growth show that to remain competitive, productive and relevant to customers in a volatile market, it is necessary to take a step towards digitalization if somehow it has not already been done. Also, this article presents only three digital solutions that can take the business uphill, but you do not have to limit yourself to these.

The good news is that we offer customized solutions depending on the industry, whether we are talking about a customized ECM for your company or a new solution implemented primarily to solve the problems in your company.

To get to know you and your company's needs, you can click here and contact us.