Digitization will cost $ 6800 billion in three years


New Delhi : Digitization has an important role in the development of the global economy. The International Data Corporation (IDC) says that in the coming times, the emphasis will be on the economies of the world. This is the reason that in the next three years i.e. between 2020 and 2023, information technology (IT) will cost 6800 billion dollars.

The research firm said in the IT industry forecasts for 2021 and beyond, the global epidemic has caused many difficulties in 2020. The outbreak of this epidemic is everywhere. However, many external causes are becoming carriers of change. With these changes, the digital journey of the international economy will continue and by 2022, 65 percent of the global GDP will go digital. Most products and services will be based on the digital model.

Investment and business methods will change
IDC estimates that by the end of 2021, 80 percent of enterprises will adopt cloud-based infrastructure and applications. The pace of its adoption will double compared to before the epidemic. During the epidemic, there has been considerable change in the workforce and operational practices.

These will change 80% of investment and business practices in most industries by 2023. Also, by 2023, 75 percent of the world’s top 2,000 companies will incorporate technology in their workforce.

The report states that companies around the world are facing financial crisis due to the epidemic. To overcome this, 70 per cent of the Chief Information Officers (COEOs) of companies will have to adopt cloud with emphasis on forced digitization by 2023.

Smart CIOs will look for opportunities to design the next generation of digital platforms, modernizing and rationalizing infrastructure and applications. This will help improve new products, services and experiences for employees and customers.

According to the research firm, for companies focusing on digitization, 2022 will help them adapt to the new situation and will expand their services faster by 50 per cent.

Due to this process of digitization, 80 percent of enterprises will improve relationships with their suppliers, service providers and partners by 2024. This will help in better operating digital strategies and wider dissemination of resources.

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