Most firms to value digital, sustainability combo by 2022: IDC

By 2022, the majority of companies in the world will realise greater value by combining digital and sustainability, giving rise to digitally-driven and sustainably-enabled projects as the de-facto standard, according to a prediction by International Data Corporation (IDC).

According to the new report, at least 30 per cent of organisations will accelerate innovation to support business and operating model reinvention by 2021, fast-tracking transformation programmes to future-proof their businesses.

“Organisations with new digital business models at their core that are successfully executing their enterprise-wide strategies on digital platforms are well positioned for continued success in the digital platform economy,” Shawn Fitzgerald, Research Director, Worldwide Digital Transformation Strategies, said in a statement.

By 2025, driven by volatile global conditions, 75 per cent of business leaders will leverage digital platforms and ecosystem capabilities to adapt their value chains to new markets, industries, and ecosystems, said the report titled “IDC FutureScape: Worldwide Digital Transformation 2021 Predictions”.

The report said that despite a global pandemic, direct digital transformation investment is still growing at a compound annual growth rate of 15.5 per cent from 2020 to 2023 and is expected to approach $6.8 trillion as companies build on existing strategies and investments, becoming digital-at-scale future enterprises

By 2022, 70 per cent of all organisations will have accelerated use of digital technologies, transforming existing business processes to drive customer engagement, employee productivity, and business resiliency, said the report.

To thrive in digital supremacy economy, 50 per cent of enterprises will implement the organisational culture optimised for digital transformation in 2025, based on a customer-centric and data-driven approach, it added.