Digitalization

[New] Online banking penetration to reach 90% by the end of 2020, driven predominantly by COVID-19, the growing presence of FinTechs and the increased investment from banks into digital transformation.
[New] Organizations are projected to spend nearly $2 trillion on digital transformation in 2022, spurred by a proliferation of new technologies and a fear of disruption by tech-enabled competitors.
[New] Increasingly accurate digital twin ecosystems and results will create more use cases that will drive the adoption of digital twins in 2020.
[New] The growth and maturity of interrelated technologies such as 3D printing, metal printing, and mapping will play a part in accelerating the adoption rate of digital twins in 2020.
[New] With the emergence of new players and further digital disruption in the industry, 38% of traditional banks' revenues are at risk by 2025.
[New] Digital transformation in O & G had a total value of $1.6 trillion and could expand to $2.5 trillion if existing organizational / operational constraints are relaxed and futuristic technologies are embraced.
[New] If businesses execute digital transformation properly, integrating the physical and digital worlds could generate up to $11.1 trillion a year in economic value by 2025.
[New] The single, interoperable digital identity will be a dominant technology trend over the next decade, within the financial services industry and more broadly in our digital economies.
[New] As an emerging area of digital health, Digital Therapeutics For Psychiatric Disorders holds potential for new avenues in patient care - the market is expected to reach nearly $9 B by 2025.
[New] Digital sales of groceries have been central to Walmart's growing online sales, and may be the one area of e-commerce where Walmart could have an advantage over Amazon.
[New] Over 12 countries, mostly emerging economies, will begin issuing a digital currency using blockchain technologies to promote economic stability and encourage electronic commerce by 2023.
[New] Digital services will become one seamless experience, starting with e-commerce, as can be seen with WeChat and Alipay in China.
[New] Consumers are reliant on digital devices now more than ever, and Business Insider Intelligence predicts that mobile will inch closer to becoming consumers' preferred channel for online shopping within the next five years.
[New] For digital infrastructure and networks alone, the EU has an investment gap of EUR 65 billion per year: Implementing reforms and stepping up investments in Research and Development and technological deployment could yield 14% of cumulative additional GDP growth by 2030.
Lower drilling activity, more shut-ins and stretched balance sheets among operators could hurt spending on digital technologies going forward.
The digital business world will pick up speed in the next few years and it is essential for Europe to gain momentum in developing a sophisticated and advanced digital ecosystem.
By 2022, digital transformation spending in New Zealand will grow to over 55% of all ICT investment from 45% today, with the largest growth in data intelligence and analytics as companies create information-based competitive advantages.
As well as increasing adoption of digital services, there will be a renewed interest in automation in 2020 and beyond.
Although Gartner expects all of the major categories of IT investment to drop sharply this year, Spending in some sub-categories could still soar as companies accelerate digital transformation strategies.
Markets such as India have strongly enabled frameworks for digital payments, and India has set a target to reach 15% transaction turnover as a share of GDP by 2021.
Some expect the digital yuan to be launched later this year - a potential landmark in the story of digital currencies.
Spending on digital transformation will reach worldwide spending of $2.1 trillion by 2021.
In 2020, Germany and the UK will become go to models for real world applications of digital health.

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Last updated: 31 May 2020