According to the most recent prediction from International Data Corporation, digital transformation investments in the Middle East, Turkey, and Africa (META) are expected to more than double and reach $76 billion over the period of 2021–2026. (IDC). According to the international technology research, consulting, and events company, regional expenditure on digital transformation will increase at a compound annual growth rate (CAGR) of 16% over the next five years, making up 43.2% of all ICT investments in 2026.
“For many organisations, the digital and tech investments they made during the pandemic to build resilience could be put to test in 2023 across key business dimensions such as customer experience, operations, and financial management, among others,” says Jyoti Lalchandani, IDC’s group vice president and regional managing director for the META region.
Digital business
“The implementation of further digitalisation in critical areas and a more rapid shift to a ‘digital business’ approach will be key to separating the thrivers from the survivors.
“No matter what the economy throws at us over the coming 12 months, organisations must not lose sight of their digital aspirations. The focus should be on enabling clear and measurable outcomes, and digital spending needs to transition from building to scaling. Indeed, IDC predicts that by 2027, at least 30% of the C-suite’s focus will be on scaling innovation and operating a truly digital business. Automation will sit at the heart of this process, helping to reduce the cost of IT operations, address labor shortages, and increase the velocity of innovation.”
Globally, IDC expects spending on digital technology by organisations to grow at eight times the economy in 2023, establishing a foundation for organisations to drive operational excellence, competitive differentiation, and long-term growth. IDC will expand on these insights as it hosts the META region’s most influential technology vendors, telecommunications operators, and IT service providers at IDC Directions 2023 Middle East, Türkiye & Africa.
In-person event
Taking place on February 1 at The Ritz-Carlton, Dubai International Financial Centre, this in-person event will address the theme ‘Navigating Disruption in the Age of Digital Business’. It will examine the very latest digital acceleration trends shaping end-user investment priorities across the region, providing essential guidance to the region’s foremost ICT vendors on proven best practices for transforming themselves into new-age digital partners for their customers.
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