Macroeconomic Uncertainties Will Provide a Boost to Enterprise Digitization and ICT Transformation

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By Leo Gergs | 3Q 2022 | IN-6623

 

Current Geopolitical Events and Their Macroeconomic Effects on Enterprise Digitization

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Enterprises—both in the telecoms industry and in industrial end markets—around the world are currently faced with a number of impactful geopolitical events with certain macroeconomic consequences. The ongoing war in Ukraine and somewhat related soaring energy prices have put a price tag on sustainability issues and are pushing manufacturers and other industrial enterprises to retain profitability of their operations in the short and medium term, given the sudden hike in production costs. This will manifest in two different considerations: 1) enterprises will increase their energy efficiency by increasing their output per energy consumed; and 2) enterprises will seek to reduce adjacent production costs (e.g., manual labor and streamlining processes) through enhanced automation.

In addition, industrial enterprises are still grappling with a highly volatile supply chain. North America and Europe are currently coming out of restrictions related to the COVID-19 pandemic and, therefore, have to adjust to increasing levels o…

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