IDC: Digital Transformation Spending in the EMEA Region to Exceed $1.2 Trillion by 2028

A new study by the International Data Corporation (IDC) titled "Digital Transformation Market Forecast for the EMEA Region 2024-2028," based on the World Digital Transformation Spending Guide published in October 2024, shows that digital transformation spending in Europe, the Middle East, and Africa (EMEA) is projected to reach $1.201 trillion by 2028, with a compound annual growth rate (CAGR) of 15.8% during the forecast period from 2024 to 2028.

Key Insights:

• Digital transformation spending in the EMEA region will exceed $1.201 trillion by 2028.
• The CAGR will be 15.8% from 2024 to 2028.
• Artificial Intelligence (AI) and industry investments will be major growth drivers.
• Investments in digital transformation include various technologies such as robotics and cloud technologies.
• Next-generation AI has become a key driver of digital investments.
• Financial Services: High growth rate, focusing on cybersecurity and customer service quality.
• Retail and Services: Investments in digital platforms and AI focused on the customer.
• Infrastructure: AI will strengthen competitive positioning.
• Manufacturing and Resources: Investments in AI will boost labor productivity.
• Public Sector: Budget constraints and expansion of modern technology usage.
• Strategic AI Imperative and new regulations require strong protection and trust.
• Geopolitical tensions and macroeconomic uncertainty impact IT budgets.
• A shortage of digital skills and organizational disunity are barriers to progress.

Source: https://www.idc.com/getdoc.jsp?containerId=prEUR253146325