• Large enterprises already boast a strong tech foundation, but they are still pushing the envelope with a projected 21% Tech Transition surge in 2024-25.
• Medium enterprises are on the rise, anticipating a significant 31% tech transition leap this year, closing the gap on their larger counterparts.
• Nearly 6 in 10 enterprises recognize the power of lean digital thinking to streamline operations, boost customer satisfaction, and drive innovation.
22nd Jan 2024 | NEW DELHI. As per a new CMR Next Frontier report published by CyberMedia Research (CMR), India’s trusted technology research and advisory firm in India, Indian enterprises will see a significant surge in the Tech Transition, with an average increase of 26% projected for the FY2024-25 compared to FY2022-23.
According to the study findings, every industry vertical in India is gearing up to enhance its technical capabilities in the upcoming year. Approximately three out of five organizations have already embraced the concept of lean digital thinking to improve operational efficiency, enhance customer satisfaction, drive innovation, and gain a competitive advantage.
According to V Srinivasa Rao (VSR), Chief Digital Advisor- Industry Consulting Group (ICG), CyberMedia Research (CMR), “We are currently in the 5th Industrial Revolution, during which technologies such as AI/ML, Generative AI, 5G, Robotics, IoT, AR/VR, Blockchain, and Multi-cloud technologies are significantly disrupting organizations. However, the siloed approach does not help organizations grow or differentiate themselves from others. Innovation lies at the intersection of these technologies. The fusion of technologies has provided unimaginable new capabilities, which organizations can use to transform their structure, create new opportunities, increase revenue, and optimize operations. But transitioning from traditional enterprises to digital enterprises requires all staff members, from strategic to operational levels, to adopt a new digital mindset, which can be achieved through Lean Digital Thinking. Thinking traditionally and executing digitally ensures successful failure. Hence, acquiring a digital mindset with Lean Digital Thinking is the first major step in the digital journey.”
The CMR Next Frontier: Enterprise AI Study 2023 conducted through comprehensive primary and secondary research methodologies, involved interactions with 400 leading Indian IT decision-makers and specialists.
“Embracing the horizon of AI within cloud-focused enterprise infrastructure isn’t merely an option; it’s an imperative for modern digital businesses. With 87% of current providers integrating AI into their offerings, enterprises must navigate toward this transformative realm. Here, leveraging AI isn’t solely a competitive edge – it’s the cornerstone of innovation, essential for remaining pertinent in the digital era’s ever-evolving landscape,” added Thomas George, President, CyberMedia Research and Services Ltd (CMRSL).
Some key study insights are highlighted below:
• AI-Fueled Growth: The study predicts a significant increase in tech adoption across all industry verticals, with large enterprises seeing a 21% jump and medium-sized businesses experiencing a remarkable 31% surge in tech transition by 2024-25. AI is expected to play a pivotal role in driving this growth, with enterprises leveraging its capabilities for automation, data analysis, and enhanced customer experiences.
• Lean Digital Thinking Takes Root: A significant 59% of organizations across diverse sectors are aware of and actively implementing lean digital thinking, recognizing its potential to improve operational efficiency, boost customer satisfaction, and fuel innovation. This shift towards a more agile and data-driven approach is crucial for success in the age of digital transformation.
• Focus on Specific Technologies: The study identified key areas of focus for Indian enterprises in their tech transition journey. These include cloud adoption, big data analytics, cybersecurity, and the Internet of Things (IoT). Additionally, emerging technologies like generative AI and 5G are gaining traction, showcasing the potential for further disruption and innovation.
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About the Survey
The CMR Next Frontier from CyberMedia Research (CMR), unveils primary insights from leading Indian enterprises on their journey towards digital acceleration through enterprise IT adoption.
The CMR Next Frontier study covered 400 IT Heads / Decision Makers of organization spread over 298 large (> 1000 Cr) and 102 medium (500-1000 Cr) enterprises, cutting across top eight cities of India, including Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Hyderabad, Ahmedabad, and Pune. The study covered all major verticals such as Manufacturing, BFSI, IT / ITeS, Healthcare, Retail, and Government etc. The primary survey was conducted in H2 2023.
For results based on a randomly chosen sample of this size, there is 95% confidence that the results have a statistical precision of plus or minus 5% of what they would be if the entire population had been surveyed.
