In this report, we will cover some of the most important digital transformation statistics for 2022 and 2023.
New innovations and disruptions have driven digital transformation across the entire global economy, driving digitization, digital transformation, and digital adoption trends.
Yet as most business professionals know, these digital trends have fueled the need for digital training – without digital abilities, after all, employee skills will fall short of the capabilities that employers need to drive digital change.
Below, we’ll explore 20 of the most important statistics related to digital transformation and digital skills.
Digital Transformation Statistics: 2023 Edition
Here are a few digital transformation statistics that show why digital transformation matters and where it is headed:
- 65% of businesses currently have initiatives to encourage collaboration between data science teams, analytics teams, and the business (Forrester)
- 62% of companies are working to embed analytic processes into their businesses in order to better automate business processes (Forrester)
- 91% of businesses are engaged in some form of digital initiative (Gartner)
- 87% of senior business leaders say digitalization is a priority (Gartner)
- 40% of organizations have brought digital initiatives to scale (Gartner)
- 51% of digital transformation efforts are fueled by market pressure and growth opportunities (Prophet)
- 70% of businesses chose to increase or maintain digital transformation spend during the pandemic (IFS)
- 58% of businesses that had not yet begun a digital transformation program said that COVID-19 has accelerated their digital plans (BakerMcKenzie)
- 76% of businesses plan on long-term IT changes as a result of COVID-19 (SWZD)
- More than a third of 2021 tech budget increases will be influenced by COVID-19 (SWZD)
- 97% of IT decision-makers are involved in digital transformation initiatives (MuleSoft)
- By 2024, 25% of CIOs at large enterprises will become accountable for digital business operational results, or “COO by proxy” (Gartner)
- Top strategic tech trends that will drive disruption and growth include hyperautomation, multiexperience, democratization, and human augmentation, among other things (Gartner)
These statistics clearly show that digital transformation is set to continue for the foreseeable future.
Yet another important factor that business leaders must consider when investing in digital transformation is employee productivity – and that productivity depends on having digital skills.
Digital Skills Statistics: 2023 Edition
Here are a few statistics that demonstrate how important digital skills are in today’s workplace, what employers want, and what skills will be needed in the coming years:
- 69% of employers say they prefer employees with data science skills than those without (PwC)
- 55% of employers most worried about digital skills say innovation is hampered by a lack of key skills (PwC)
- Over the next five years, the global workforce can absorb around 149 million technology-oriented jobs (Microsoft)
- 85% of Americans believe that digital skills will be important to success in today’s workplace (Pew)
- 54% of all employees will need significant reskilling by 2022 (World Economic Forum)
- By 2022, everyone will need an extra 101 days of learning (World Economic Forum)
- 44% of Europeans between 16 and 74 do not have basic digital skills (European Commission)
Now that we have looked at both digital transformation and digital skills statistics, let’s dive a bit deeper and understand what their implications are.
Top Takeaways and Trends
Here are a few trends and lessons that these statistics reveal:
- Digital-first initiatives have become a top priority for the majority of companies, even during the pandemic. COVID-19 has fueled one of the greatest financial crises of our time. Yet it has also accelerated the need for digital transformation, which can help companies stay more resilient and profitable during such difficult times.
- Digital transformation is not just profitable, it is necessary. As the economy becomes more digital and more market participants adopt digital technology, every organization will need to become digitally mature, or even digital-first. After all, participation in the digital economy requires full adoption of digital technology.
- Digital is becoming an integral part of every business. Over the past several years, IT has become less of a back-office function and more of an operational function. This trend should continue, and we can expect to see IT leaders play a more pivotal role in business operations and strategy.
- Without access to the right digital skills, employers cannot drive transformation forward. Digital transformation depends heavily on employees’ capabilities and skills. As PwC’s research showed, a lack of key skills can significantly hinder business growth and innovation.
- The digital skills gap is widening, so companies must step up to close that gap. To ensure that employees remain proficient and productive, employers should find ways to close the digital skills gap through, for instance, employee learning programs.
In short, these statistics and trends suggest that over the next several years, digital transformation will become even more important – and so will the digital skills needed to drive those initiatives.
Must-Know Digital Transformation Statistics for 2023 and 2023
Here are a few digital transformation statistics that demonstrate just how crucial it is to invest in digitization, digital transformation, and digital adoption.
Digital-first companies are 64% more likely than their peers to have exceeded their 2018 goals.
According to a 2019 report by Adobe, companies that are digital-first are almost three times more likely to have exceeded their top business goals in 2018.
That same report found that companies focusing on the customer experience were three times more likely to have exceeded their business goals in that same year.
Digitally mature companies earn significantly more than their industry average.
A study by Deloitte found that digital maturity was strongly correlated with excellent financial performance.
For instance, 45% of higher maturity companies reported that their net revenue growth was significantly above their industry average. And 43% of highly digitally mature companies reported that their net profit margins were significantly above their industry average.
The same report also pointed out that more digitally mature companies tended to focus on the same areas in their digital transformation programs – 41% focused on boosting customer lifetime value and 29% focused on increased sales from new products and services.
Digital transformation is seen as a business driver for recovery by 4 out of 5 companies.
According to Dell, 80% of organizations globally accelerated their digital transformation efforts in 2020.
Other findings include:
- 89% of companies recognized that, as a result of the pandemic, they needed more agile and scalable IT infrastructure
- The majority of companies envisioned using emerging technologies, such as artificial intelligence (85%) and augmented reality (82%)
- However, only a small number planned to invest in these technologies – 16% for virtual and augmented reality and 32% for artificial intelligence
Overall, the survey indicated that companies are generally becoming more digitally mature. The number of digital laggards, the least digitally mature group in their audience, shrank, while the other groups expanded.
Conclusion
Digital disruption and transformation are clearly fueling change in the modern economy, as these statistics suggest.
The data also demonstrates that companies who invest in digital transformation will have a better chance of succeeding, staying profitable, and even leading in their industries.
At the same time, it is clear that companies who fail to keep up with digital trends will have a much more difficult time in the years ahead.
