This Week in Imaging: Digital-Transformation to Rule the World
This week, IDC released a report detailing digital-transformation (DX) and adoption of document solutions in the Asia-Pacific region (excluding Japan). To date, almost half (48 percent) of organizations in the Asia-Pacific region have adopted document solutions. Meanwhile, globally, the DX adoption rate is approximately 53 percent, with the highest adoption rates in North America and Western Europe.
Earlier this year, IDC also forecast that global spending on DX will reach $1.8 trillion this year, an increase of 17.6 percent over 2021 (in comparison, the worldwide printer and copier/MFP market was approximately $36 billion in 2021).
The United States is forecast to be the largest geographic market for DX spending in 2022, accounting for nearly 35 percent of the worldwide total. Western Europe will be the second-largest region for DX spending, followed closely by China. China will also deliver the strongest growth in DX spending with a five-year compound annual growth rate of 18.5 percent. Latin America will be the region with the second fastest growth with a CAGR of 18.2 percent. Overall, IDC is forecasting DX spending to reach over $10 trillion over about the next 10 years.
For printer and copier companies, the bottom line is that increased adoption of DX, accelerated by the pandemic, means of course less reliance on paper. Some, such as Ricoh, Konica Minolta, Lexmark, and Xerox have responded with their own DX strategy and solutions.
On the other hand, with 53 percent of organizations globally having adopted DX, that means the other half, 47 percent still likely has years to go before they become digital organizations, relying on paper for many business processes. However, overall, the writing on the wall appears clear, and it will eventually be DX – not printers and MFPs – that will rule the world.
This Week in Imaging
Market Research and Reports
Office Printers and Copier/MFPs
Commercial and Production Printers