Businesses in 2021 are experiencing the birth of a new generation of digital transformation that is going to dominate the next decade. According to Research and Market, the digital transformation market is expected to grow at a CAGR (compound annual growth rate) of 22.7% from 2019 to $3,294 billion by 2025. (source: Research and Market)
Digital transformation of an enterprise-scale the business grew substantially with at least 56% of CEOs stating that digital improvements have led to increased revenue. As more and more digitization processes lead the way to a more efficient work environment and improve customer satisfaction, enterprises have realised the importance of ‘going digital’ and incorporating digital trends in their business goals. Therefore, here are 4 digital transformation trends that are likely to change the enterprise landscape in 2021.
1. Cybersecurity
2020 has witnessed a major change in the aspect of enterprise security, especially during the pandemic. Intrinsic security infrastructures are in demand as employees work from home and sensitive information become more prone to leak. According to Fintech News, there was a 238% rise in cyber attacks on banks, and a 600% increase in attacks on cloud servers from January to April. (source: Fintech News)
This calls for a massive demand in cybersecurity platforms and security software programs that enterprises are readily investing in to protect their personal and financial information in the coming year.
2. Artificial Intelligence (AI)
AI has already made its mark in the technological world with 77% of consumers already using artificial intelligence technologies. This trend is only going to grow in 2021 and become an even more valuable technology with its implications visible in industries such as healthcare, manufacturing, banking, agriculture and automobile. Apart from this, the IT industry has already succeeded in using AI to create services such as digital assistance, cognitive computing, machine learning, business intelligence, etc.
3. Data Analytics
Just like 2020, companies will keep investing in analytic tools and leveraging data to find actionable insights to help them understand customer behaviour and gain a competitive advantage to stay ahead.
In terms of digital transformation, businesses are most likely to be identifying the right tools, technologies and techniques to monitor data at any given stage of the business process and leverage it to deliver a better experience.
4. Multi-Cloud Strategy
Cloud computing has increasingly become useful for organizations in storing business assets as well as creating a seamless continuity in the enterprise. To digitally transform the business and modernize the IT infrastructure, your business needs to be cloud-enabled. And moving forward in 2021, with multi-cloud becoming a reality of many enterprises, cloud computing is set to drive innovation and digital transformation by completely switching from hybrid cloud to a multi-cloud environment.
A multi-cloud environment also aims to eliminate the reliance on any single cloud provider which is a step forward as enterprises are not so keen on investing in Public, Private and Hybrid Cloud types due to varying requirements.
Technology today has undergone a massive paradigm shift in terms of increasing productivity and simplifying lives around us. For the past year, enterprises were definitely moving on a steady pace to implement improved technologies in the workspace but nonetheless, corona virus greatly fueled the advent of digital transformation in all aspects of business. Therefore it is safe to say that as 2021 comes around, we will definitely see enterprises across all industries leveraging top technological trends and adopt digital transformation strategies to be future-ready.
If your business is also on the path of digital transformation, you can consult our professionals at JOY consulting here- www.joyitconsulting.com/consultation
