Over the next few years, spending on digital business by companies in the Asia-Pacific region to improve operational efficiency and increase revenue is projected to increase 3.5-fold.

IDC announced on the 3rd that in its key technology forecasts for 2023 and beyond, digital business spending by Asia-Pacific companies is expected to increase 3.5-fold, and 30% of organizations are expected to establish business continuity crisis management strategies by 2024.

Ng stated, “CIOs must actively leverage organizational resilience capabilities to secure a competitive advantage. Through this, they must play an increasingly critical role not only in adapting and surviving but also in thriving and delivering differentiation in finance, supply chains, ecosystems, and sustainability.”

Organizational spending on digital technology is projected to reach 3.5 times existing spending to lay the foundation for operational excellence, competitive differentiation, and long-term growth.

It was predicted that by 2026, 40% of the total revenue of the top 2,000 Asia-based organizations would be generated from digital products, services, and experiences.

IDC suggests several measures to help companies in the Asia-Pacific region achieve their goals. First, he stated that profit growth must be accelerated by participating in the digital ecosystem through investments in ESG and sustainability.

In addition, platforms must be prioritized. By 2025, it is projected that 60% of infrastructure, security, data, and network products will require cloud-based control platforms that support extensive automation and can significantly reduce ongoing operating costs.

In addition, people-centered business, such as the recruitment of technical talent, is gaining attention. The talent gap is expected to have an increasingly significant impact on technology ROI.