Embracing digital transformation presents many opportunities for companies of all sizes. They represent critical steps along the path for renewing their business practices, that are often seen as “challenges”. In our view, technological advancements can truly propel business into new dimensions and innovative models.
The most recent growth estimated as the result of Digital Transformation is over $18 trillion in increased annual revenue value across all industries.
Nonetheless, currently fewer than 15% of industrial companies have digital transformation measures in place, which leaves room for radical interventions in many sectors, for both small-sized companies and large conglomerates.
Early adopters were almost always startups or young companies with extra capital to invest, that could afford the higher risk associated with radically new digital solutions for making their businesses more profitable. These early adopters are benefiting now, and have a head start on their competitors.
Today, survival of the fittest is not linked to the size or power or willingness to take the risk of trying but to the ability and capability to change — to move quickly, adapt, seize opportunities, and be agile.
Digital transformation is truly driving every industry sector into a new business context. From manufacturers, to sellers, traders and intermediaries, they are all questioned to rethink their business models, especially their technology strategy and they start to include in the picture what we believe is the most effective accelerator of digital transformation, the Internet of Things (IoT).