24 Jun 2020
Posted in Coronavirus
Despite COVID-19, enterprises in China set to increase ICT budget on digital transformation, says GlobalData
Despite the negative impact of COVID-19, most enterprises in China are expected to increase their share of ICT spending on digital transformation in 2020, according to the latest ICT decision makers’ survey* from GlobalData, a leading data and analytics company.
GlobalData’s Enterprise ICT Investment Trends in China 2020 Report highlights that the enterprises from China covered in the survey would spend an average 37% of their ICT budget on digital transformation initiatives in 2020 amidst the COVID-19 crisis. This is about six percentage points more than the percentage of ICT budget that the enterprises surveyed had spent on digital transformation in 2019.
Artificial intelligence and machine learning capabilities are high on priority list for enterprises in China. This is put to perspective by GlobalData’s survey findings, which indicate that the largest percentage of enterprise ICT budget for digital transformation in 2020 would be spent on these areas.
Saurabh Daga, Technology Analyst at GlobalData, says: “Irrespective of the scale of their operations or the industry in which they operate, enterprises are increasingly undergoing digital transformation to modernize and simplify their operations, accelerate production, embrace remote working and collaboration capabilities, reduce costs and sustain their businesses, especially in these testing times.”