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  • 50 Vital Digital Transformation Statistics: 2019 Spending, Adoption, Analysis & Data

50 Vital Digital Transformation Statistics: 2019 Spending, Adoption, Analysis & Data

Category: B2B News

These days, digital transformation has become the norm, as reflected by the most current digital transformation statistics. Fueled by speedy internet everywhere, digitization now plays a critical role in adding business value. Proof of this is the way organizations have been investing in AI and top business intelligence platforms.

If you have yet to digitize your business, you’re missing out a lot. And chances are, your competitors are already into it. Just look at current business intelligence statistics to find out how digital tech has been improving the business landscape.

To give you a rundown of how digital transformation has been doing these, we have gathered some of the most relevant digital transformation data available. This should help you find a way to leverage these stats to improve your business.

key digital information statistics main image web

Business and Digital Transformation Statistics

Today’s organizations have been embracing digital transformation, with many companies having put a digital strategy in place. Now, such is true not only for large enterprises but even for startups, exponentially increasing the digital transformation market size. Various industries have been getting into the fray, among which are financial services and healthcare. Now, adopting a digital strategy doesn’t mean that your business will grow overnight. It takes years before organizations reap the benefits of such a strategy, a fact that is recognized by many of them.

  • 70% of organizations have a digital transformation strategy or are working on one. (ptc.com)
  • Industrial enterprises are seen to have benefited the most from digital transformations. (ptc.com)
  • 55% of startups have already adopted a digital business strategy. (idg.com)
  • 38% of traditional businesses have adopted a digital business strategy.  (idg.com)
  • 89% of enterprises are planning to adopt or have already adopted a digital business strategy.  (idg.com)
  • Top digital business strategy adopters include Services (95%), financial services (93%), and healthcare (92%).  (idg.com)
  • 39% of executives expect to benefit from their digital transformation initiatives in 3 to 5 years. (mit.edu)
  • 21% of North American and European enterprises say their digital transformation is done. (forrester.com)

Top Benefits of Adopting a Digital Model

Improve operational efficiency

%

Meet changing customer expectations

%

Improve new product quality

%

Increase design re-use

%

Reduce product developmen costs

%

Introduce new revenue streams

%

Reduce cost of poor quality

%

Increase first pass yield

%

Source: ptc.com

Designed by

Digital Transformation Technologies Statistics

Digital transformation, as the term implies, relies on the use of new tech to modify key business processes and even existing services. There are a variety of technologies that companies are currently using in coming up with digital strategies. Technologies such as artificial intelligence, cloud computing, and the Internet of Things are at the forefront of the push for digitalization. You need only to see artificial intelligence stats to affirm this. Meanwhile, check out the digital transformation technologies statistics listed below to learn more about these techs.

  • 51% of digital transformation efforts stem from growth opportunities. (prophet.com)
  • 60% of executives say the Internet of Things will play a critical role in their digital business strategy. (idg.com)
  • The top five technologies already implemented include big data/analytics (58%), mobile technology (59%), and APIs and embeddable tech (40%) (idg.com)
  • Executives say digital transformation’s top benefits include improvement of operational efficiency (40%), faster time to market (36%, and meeting customer expectations (35%). (ptc.com)
  • Less than 30% of technology vendors are active partners in organizations’ digital transformation initiatives. (futurumresearch.com)

top five technologies already implemented

Digital Transformation Management Statistics

Digital transformation is indeed a boon for many companies, hence the high adoption rate of digital technologies. However, jumping into the digitization bandwagon does not guarantee success. Seventy percent of such initiatives have been found to fail to reach their goals. The problem is seen to lie in the management of such strategies. Of course, digital asset management software benefits can help address these complications. But then again, tech managers often overlook factors such as business strategy, employee concerns, and customer experience, resulting in less than ideal outcomes. Proper management leads to excellent results; just take a look at the following stats that prove this point.

  • 70% of organizations consider their CEO’s practical understanding of new technologies as adequate or above average. (ofs-portal.com)
  • 30% of businesses are concerned about their CEOs’practical understanding of new tech. (ofs-portal.com)
  • 28% of chief information officers and 23% of chief executive officers are either owning or sponsoring digital transformation initiatives. (prophet.com)
  • 64% of It executives are focusing on improving customer experience. (ofs-portal.com)
  • 62% of IT executives are focusing on the development of new digital revenue streams. (ofs-portal.com)
  • 47% of functional CIOs work with lines of business to build a business case for new tech initiatives. (ofs-portal.com)
  • 41.4% of companies say they have a dedicated digital transformation team. (ofs-portal.com)
  • Inadequate budgets and company culture are seen as the two most common hurdles to effective digital transformation. (ofs-portal.com)

Disruptive technologies that are changing consumer markets

17%

Internet of Things

13%

Artificial Intelligence

8%

Robotics

Source: kpmg.com 2018

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Digital Transformation Spending Statistics

Improved revenue and stock prices are but two of the numerous benefits that digital transformation offers. However, financial benefits outshine all others as these are the main goals of every enterprise. Companies such as Target, Best Buy, and Hasbro, who were sensitive enough to capitalize on digital technology, have reaped their benefits early in the game. It, therefore, follows that all manners of technology vendors have gained significant digital transformation market share. If you look at the statistics below, you’ll see how much organizations have been investing in digital transformation.

  • 40% of all technology spending is seen to go to digital transformations. (idgesg.net)
  • $2 trillion – The total enterprise spending on digital transformations in 2019. (idgesg.net)
  • Technology budgets go to business operations (57%), incremental business change (26%) and business innovation (16%) (ofs-portal.com)
  • Only 3.30% of overall revenue goes to IT budget. (ofs-portal.com)
  • 77% of the overall technology budgets in high-performing companies are controlled by CIOs. (ofs-portal.com)
  • 28% of companies view digital transformation as costly. (prophet.com)

total enterprise spending on digital transformations

Revenue from Digital Transformation Statistics

Digital transformation has proven instrumental in improving corporate coffers and shareholder value. High-Technology B2B sales are seen to emanate from digitalization. This view reinforces the fact that digital transformation is a game-changer for may enterprises. Consider the revenue derived from digital transformation, as reflected in the following statistics.

  • High-tech B2B sales are seen to come from digital by 2020. (adobe.com)
  • 27% of companies’ businesses come from digital. (ofs-portal.com)
  • High-tech B2B companies have reported a 10% to 20% cost reduction and revenue growth of 10% to 15% from transforming their customer experience processes. (mckinsey.com)
  • 5X – The revenue growth of B2B digital leaders compared to their peers. (mckinsey.com)
  • 60% of marketers say that technology has significantly boosted competition. (cmo.com)
  • Start-ups can increase revenue by 34% using digital-first strategies. (idg.com)

Who is holding back companies' digital transformation initiatives?

CEO or board of directors

%

No one

%

Senior executive team (C-suite other than CEO)

%

Department heads

%

Middle managers

%

Line employees

%

Source: futurum.com 2018

Designed by

Digital Disruption Statistics

New technologies are integral to digital transformation. However, many of these techs are disruptive and nature, making it difficult at times for organizations to adapt to the changes that they bring about. Technology disruptions can impact a variety of business areas, among them job creation. Find out more about how technology disruption has been impacting companies in the following stats.

  • 64.5% of companies feel positive about their ability to adapt to technological disruption. (ofs-portal.com)
  • 67.8% of companies disruption has had a neutral-to-positive impact on job creation. (ofs-portal.com)
  • 37.3% of companies report a net increase in job creation from technology disruption. (ofs-portal.com)
  • 31.3% of companies report a negative impact of technology disruption on job creation. (ofs-portal.com)
  • 50.4% of organizations express a positive outlook about technology disruption. (ofs-portal.com)
  • 20% of all departments are unable to adapt to technology disruption. (ofs-portal.com)

organizations express a positive outlook about technology disruption

Workforce and Digital Transformation Statistics

Digital transformation is known to impact employees directly. This influence can either be positive or negative, depending on one’s standpoint. On the lighter side, digital transformation cannot occur without employees, which also entails the acquisition of highly-coveted digital skills. On the other hand, digitization is also seen to affect the existing job market adversely. Digitization has also paved the way for the creation of corporate roles that call for a different type of skillset. For example, the career path of digital project managers veers away from conventional project management roles. 

  • 71% of executives say the workforce is either very or essential to their digital transformation strategy. (industryweek.com)
  • 68% of executives believe that collaboration between people and AI will be key to the future of businesses. (fujitsu.com)
  • 90% of jobs are seen to require digital skills in the future. (europa.eu)
  • 44% of workers aged between 16 and 74 in Europe do not have basic digital skills. (europa.eu)
  • Line employees currently drive 10.9% of digital transformation. (ofs-portal.com)
  • 34.4% of companies say that their CEO has appointed a chief digital transformation officer. (ofs-portal.com)
  • 15.7% of businesses say technology disruption has been a “job killer.” (ofs-portal.com)

Impact of Digital Transformation on Job Creation in 2018

No change

%

Helped create a few new jobs

%

Has only killed a few jobs

%

Has definitely been a job killer

%

Helped create a lot of new jobs

%

futurum.com

Designed by

Technology Adoption Statistics

Digital transformation will not be possible without technology adoption. Slow technology adoption could prove to be a problem as many businesses have admitted to being slow in technology adoption. However, many companies claim to be comfortable with digital transformation and technology use, which sets the ideal condition for digitization. Check out the statistics below to know more.

  • 23.4% of companies admit to being slow technology adopters. (ofs-portal.com)
  • 15% of enterprises are using AI as of 2018. (cmo.com)
  • 31% of enterprises are seen to adopt AI in 2019. (cmo.com)
  • 76.6% of businesses say their relationship with technology and digital transformation is generally average or above average. (ofs-portal.com)
  • IT, customer care, and marketing departments have been excelling in technology adoption. (ofs-portal.com)
  • HR, manufacturing, and legal are considered most likely to adapt to technological change. (ofs-portal.com)

businesses and technology relationship

Digital Transformation: Is It Right for You?

A recent digital transformation market report has revealed that digital technologies have indeed touched key industries and continue to spread to other sectors. Massive reception of technology is mainly due to the financial and growth opportunities that come with digitization.

The use of digital technology has also resulted in the creation of new corporate roles that require digital skills. Given these developments, practicality dictates that adoption be immediate.

The statistics we have presented are not only meant to inform. These can likewise be used in coming up with your digital business strategy or beef up your existing one.

In this case, investing in new technologies like artificial intelligence, business intelligence, and the best digital asset management software solutions is highly recommended.

But before you go around shopping for one, consider your digital strategy and what you want the tool to accomplish.

Also, get to know its features, pricing, and overall value for money. Observe these practices and you’ll be on your way to having a robust digital business strategy.

By Nestor Gilbert

Senior writer for FinancesOnline. If he is not writing about the booming SaaS and B2B industry, with special focus on developments in CRM and business intelligence software spaces, he is editing manuscripts for aspiring and veteran authors. He has compiled years of experience editing book titles and writing for popular marketing and technical publications.

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