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Digitalisation to lead to 6.8 trn IT spending in 2023

A recent report by International Data Corporation (IDC) said that the impacts from COVID-19 pandemic are omnipresent and affect the forces that are driving change. On the brighter side though, despite the disruption created by the pandemic, the global economy remains on its way to its “digital destiny”. This is attributed to the fact that most products and services these days are based on a digital delivery model or require digital augmentation to remain competitive.

“With this shift, 65 per cent of global GDP is digitalised by 2022, driving USD 6.8 trillion of IT spending from 2020 to 2023”, the press release stated. It added that by the end of next year, 80% enterprises would be making arrangements to switch to cloud-centric infrastructure and applications twice as fast as before the pandemic.

The report stressed further that by 2023, around 75% of G2000 companies would commit to providing technical parity to a workforce that is hybrid by design. About 70% of the CEOs would be impacted with technical debt accumulated during the pandemic in 2023.

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