Digital transformation spend to surge

Double-digit spending expected to continue in Europe until 2026, IDC predicts

Sustainability will be a key strategic priority that will boost digital spending as it matures

European spending on digital transformation is forecast to exceed $550 billion in 2023, up 15.9 per cent on last year, according to new research from International Data Corporation (IDC).

It forecasts that digital transformation spend will continue to grow in double digits until 2026, with a compound annual growth rate (CAGR) of 16.6 per cent for the five-year period beginning 2021.

Spending will be driven by investments in discrete manufacturing, professional services, and process manufacturing. ...