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Analyst firm says South Asia, Southeast Asia, Latin America seeing fastest growth in IT spending.
A third of enterprises worldwide are unprepared for digital transformation, warned Ovum on Monday.
A survey of IT decision makers at no fewer than 7,000 organisations spread across 62 countries and 15 industries found that 60% consider their digital transformation is either well advanced or in progress, but only 7% believe it to be complete.
The study found that most enterprises are struggling to get to grips with omnichannel customer engagement, focusing mainly on mobile and online channels to date. 30% of respondents said they are only at the early or not-started stages, while 25% said they are at least well advanced in this area.
Ovum’s definition of digital transformation is the process of replacing legacy networks and dedicated service platforms with a coherent digital environment that is flexible, cost-effective, and capable of delivering changes rapidly and dynamically.
According to the research firm, enterprises in the financial services sector, particularly retail banks, consider themselves well on the way to achieving digital nirvana, while the retail and public sectors appear to be less well prepared.
The study also revealed that enterprise IT spending is growing globally. The top three fastest-growing regions are South Asia, Southeast Asia, and Latin America. North America, Western Europe, and Australia showed the slowest increase.
"The uneven maturity of digital transformation by industry and country has created a complex landscape for sales teams to navigate, but our data plays a significant role in quantifying for our customers their target markets’ investment appetite and timescales," said Daniel Mayo, director of IT, data and tools at Ovum, in a statement.
