Key Statistics on Digital Adoption and How to Make Yours a Success

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 Over the last four years, the logistics of dealing with the global pandemic have accelerated digital transformation and digital adoption. The need to accommodate remote or mobile employees and communicate easily with clients in various locations has driven the technology to a less in-person approach. The changes are seen globally and across industries. What are the implications for your business?

Digital adoption is becoming indispensable for businesses in the digital era. Companies can position themselves for growth and competitive advantage by embracing digital transformation and leveraging emerging technologies.

From the wisdom of investing in digital transformation to the challenges faced, user engagement trends, and emerging technologies, the following digital adoption statistics provide valuable insights for companies wanting to navigate the ever-advancing digital landscape.

Statistics on digital adoption from industry experts

According to Statista, global spending on digital technology is expected to reach a staggering  $3.4 trillion by 2026. With worldwide spending already at half of that, it is noteworthy that according to Forbes, 84% of digital transformation projects fail. In fact, in the US alone, more than $30 billion is wasted on software annually, often because employees fail to tap its full potential.

Investing in enterprise software solutions can boost productivity, improve customer, employee, and partner engagement, and increase profits. But only if the digital solutions are fully adopted.

Key statistics on digital adoption

Importance of digital transformation

In today's rapidly evolving digital landscape, transformation is no longer a luxury but necessary for greater productivity, efficiency, and sustainability. Failure to adapt will put your company at risk.

  • 70% of companies already have a digital transformation strategy or are working on one.
  • 60% of business leaders anticipate digital transformation as a critical growth driver for their company's success. (PwC)
  • Digitally mature firms are reported to be 26% more profitable than their peers, indicating digital adoption's positive impact on financial performance. (MIT Sloan Management Review)
  • Digital transformation may boost customer satisfaction by as much as 20%, potentially enhancing the overall customer experience (Capgemini Consulting).
  • According to one survey, half of the business leaders responding put digital transformation initiatives at the top of their priority list. That highlights digital transformation's strategic significance. (Insight)
  • Organizations with a well-defined digital transformation strategy are 1.6 times more likely to achieve revenue growth and generate new revenue streams.  The majority of the top-10 retailers have actively boosted their digital capabilities through either the implementation of in-store technologies or through enhancing their omnichannel offerings. (Deloitte)
  • Data literacy, profitable ecosystem play, and seamless business IT partnerships are key action areas for the future. (Deloitte)

Businesses recognize the value that digital transformation promises, and they will continue to invest in it.

Some challenges with digital transformation and digital adoption

Without question, digital transformation offers numerous benefits. But it also presents challenges, as shown in the following statistics:

  • 70% of digital transformation projects fail to achieve their anticipated goals, underscoring the complexities involved in this process. (BCG)
  • The top three complaints following digital transformation are unfulfilled data security standards (41%), lack of change management skills (37%), and inability to implement a scalable solution (36%), highlighting the hurdles businesses must overcome. (Deloitte)
  • Only 16% of companies succeed completely in their digital transformation, and often, the failure is due to having been unaware of all the potential challenges involved in the process. (Forbes)
  • 47% of organizations cite a lack of digital skills as a significant obstacle to successful digital transformation. (IDC)
  • Only 16% of companies consider themselves digitally mature, indicating that many organizations are still in the early stages of their digital transformation journeys. (McKinsey)
  • According to Deloitte's Digital Maturity Index, the number of organizations embracing digital skills and transformation is growing, but the proportion of very digitally mature companies remains small. (Deloitte)

Digital adoption and user engagement

Digital adoption and user engagement are critical factors in the success of digital transformation initiatives:

  • Smartphone users worldwide are estimated to reach 7.8 billion by 2028, showing the extensive reach of digital technologies. (Statista)
  • The average time spent on phones other than for calling is expected to reach around 4 hours and 39 minutes by 2024, marking them as a crucial channel for engagement. (Statista)
  • 62% of users are less likely to engage with a company after encountering a negative experience on mobile, emphasizing the importance of optimizing user interactions. (Google)
  • The global digital population has reached 5.16 billion, with a 7.9% year-on-year growth, highlighting the widespread adoption of digital technologies. (Datareportal)

Emerging technologies in digital transformation

Emerging technologies play a vital role in shaping the digital transformation landscape:

  • AI (Artificial Intelligence) is expected to contribute $15.7 trillion to the global economy by 2030, highlighting its transformative potential. (PwC)
  • By 2025, the number of Internet of Things (IoT) devices worldwide will reach 41.6 billion, underscoring the growing pervasiveness of connected technologies. (Statista)
  • Spending on blockchain technology could reach $16 billion by the end of this year, with a compound annual growth rate of 80%, indicating its increasing adoption and potential impact. (IDC)

How to succeed at digital transformation

Being familiar with the statistics on emerging technology in digital transformation is important, but it's more important that your company has a desire to succeed at digital transformation and adoption. Because the truth is that whether it is a system upgrade or a major implementation, success depends on end-users ability to adopt the new technology.

You can be among the 30% who fully benefit from your technology investment.

  • 70% of all software implementations fail because of poor user adoption.
  • 83% of senior executives state their biggest challenge is getting staff to use the software.
  • Employees are more open to adopting new systems if it's easy.
  • One-off training or complex manuals don't work for all.

ClickLearn is a Digital Adoption Platform that starts by capturing work processes in enterprise software and auto-producing learning content in 7 formats and 45 languages.  A customizable e-learning portal saves the content. Finally, it helps keep content and documentation evergreen and up-to-date with the unique Replay functionality.

ClickLearn is the market-leading solution for automatically creating training material and documentation for enterprise software, including Microsoft Dynamics.

Manage change and reduce implementation risk with ClickLearn.

Contact our experts at Clicklearn to see how our solution can benefit your business and make your digital transformation successful.

Try ClickLearn for Free

By ClickLearn, www.clicklearn.com

 

 

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