How is digital transformation taking place across sectors?

Digital transformation may be a buzz word in the tech realm, but it’s unique and personal for each organization. The concept differs from one company to another. Regardless of the similarities that each organization shares, innovation brings a different meaning to each one individually, and its implementation is — by default — unique in every instance. 

The global coronavirus outbreak has certainly pushed organizations to adjust and revamp their digital road maps. A majority of enterprises were driven to find ways to smoothen out and transition to employee teleworking, as stay-at-home mandates came into full force. 

Microsoft’s CEO, Satya Nadella, has nicely summed up this phenomenon:“We’ve seen two years’ worth of digital transformation in two months. From remote teamwork and learning to sales and customer service to critical cloud infrastructure and security — we are working alongside customers every day to help them adapt and stay open for business in a world of remote everything.”

In April, the tech giant saw “more than 200 million Microsoft Teams meeting participants in a single day, generating more than 4.1 billion meeting minutes.”This is just one example of the scale of adoption of cloud-based collaboration and videoconferencing tools amid the Pandemic. 

The global digital transformation market size is expectedto grow from US$469.8 billion in 2020 to US$1009.8 billion (or more than US$1 trillion) by 2025. That’s just five years.

Without a doubt, companies are recognizing that they need to innovate and innovate rapidly in light of the disruption caused by the global Pandemic.Deloittefound that C-suite members talked a lot about innovation in the early months of the coronavirus outbreak, with half of earning calls including the mention of the term “innovation.” 

The Big Four accounting firm also found that the focus of companies’ innovation efforts led by the pandemic varied across industries. The industrial landscape echoes ongoing trends, new challenges, consumer demand, and future needs.