The size of spending on digital transformation technologies will be $2.1 billion in 2019 with a compound annual growth rate (CAGR) of 16.8 percent over 2014-2019.
Spending on digital transformation technologies in the United States alone will be reaching nearly $732 million in 2019, said IDC.
Enterprises are forecast to invest nearly half the worldwide total in 2019 on digital transformation technologies — focusing on making business operations responsive and effective by leveraging digitally-connected products and services.
Investments in operating model digital transformation technologies help businesses redefine “how” work gets done by integrating external market connections with internal digital processes and projects.
Technologies that support information innovations will be the fastest growing segment, approaching one third of all digital spending by 2019.
“Enterprise investments in digital transformation will constitute the majority of growth in technology markets over the next five years, making it a priority for technology vendors as well,” said Robert Parker, group vice president at IDC.
Discrete manufacturing will be spending $224.7 billion in digital transformation technologies, followed by process manufacturing and transportation. Spending in digital transformation technologies by U.S. retail and healthcare providers is forecast to move these two industries into the number 3 and 4 positions by 2019.
The retail industry is forecast to have the fastest growing digital transformation spending, both worldwide and in the U.S., with a five-year CAGR of more than 21 percent.
Healthcare providers and resource industries will follow closely, while telecommunications and healthcare providers will be the next fastest growing industries in the U.S.