A new report from GSMA Intelligence reveals that enterprises are increasingly prioritizing revenue growth and cybersecurity as key objectives within their digital transformation strategies.
The research, titled “The Rise of Digital Industries: Navigating Enterprise Needs, Investments, and Supplier Decisions,” found that 60% of businesses now focus on enhancing customer experience, improving competitive positioning, and driving revenue growth, shifting away from cost-cutting as the primary driver of digital transformation.
Furthermore, the report highlighted a significant increase in enterprise spending on digital technologies. Companies are projected to allocate 9% of their revenue to digital transformation initiatives between 2024 and 2026, a figure expected to rise to 11% by 2027-2030, demonstrating a growing commitment to digital innovation and infrastructure.
Cybersecurity Takes Center Stage
The report emphasized the growing importance of cybersecurity in enterprise digital transformation strategies. With the rise of cyber threats, businesses are increasingly prioritizing the security of their digital assets and ensuring business continuity in the face of potential cyberattacks.
Shifting Supplier Landscape
The research also revealed a shift in enterprise supplier preferences. Companies are increasingly seeking out “generalist suppliers” such as hyperscalers and telecom network/equipment vendors that offer comprehensive solutions encompassing 5G, AI, IoT, and cloud technologies.
“Enterprises of all sizes are eager to advance their digital transformation and are making the necessary investment,” said Pablo Iacopino, Head of Research at GSMAi. “As a result, supplier competition is fierce. Telcos need to go beyond just providing network services since enterprises are increasingly looking for partners who can help them throughout their full digital transformation journeys.”
Challenges and Opportunities
The report highlighted the challenges faced by enterprises in their digital transformation journeys, including the cost of implementation and the complexity of integrating various technologies.
“The cost of implementation and the complexity of tech integration are the top two deployment challenges faced by enterprises,” said Iacopino. “This means the role of tech orchestrator will become even more important and in demand in the future, which presents new opportunities for multi-service suppliers.”
Conclusion
The GSMA Intelligence report underscores the significant shift in enterprise priorities as they navigate the digital transformation landscape. With a focus on revenue growth, enhanced customer experience, and robust cybersecurity measures, enterprises are increasingly investing in digital technologies and seeking partnerships with innovative suppliers to drive their success in the digital age.
This analysis provides valuable insights into the evolving needs and priorities of enterprises as they embark on their digital transformation journeys, highlighting the critical role of technology and strategic partnerships in achieving their business objectives.
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