High-Tech Companies Are Developing Digital Strategies to Meet an Uncertain Post-COVID Economy
High-tech companies are facing risk associated with the pandemic including stressed supply lines, revenue uncertainty, and changing customer habits. While the risks may vary by region and product, the solution is the same--digital transformation. High-tech companies are looking at automation to reduce supply chain disruption and IoT to make production more efficient. They are looking at automation as well as augmented/virtual reality to deal with digital skills gaps. And they are using AI and analytics to enhance the customer experience and product design. Because the need for transformation is spread across so much of the value chain, many high-tech companies are looking for experienced partners. These emerging trends are covered in Avasant's High-Tech Industry Digital Services 2021-2022 RadarView™.
LOS ANGELES, Nov. 17, 2021 /PRNewswire-PRWeb/ -- High-tech companies are facing risk associated with the pandemic including stressed supply lines, revenue uncertainty, and changing customer habits. While the risks may vary by region and product, the solution is the same—digital transformation. High-tech companies are looking at automation to reduce supply chain disruption and IoT to make production more efficient. They are looking at automation as well as augmented/virtual reality to deal with digital skills gaps. And they are using AI and analytics to enhance the customer experience and product design. Because the need for transformation is spread across so much of the value chain, many high-tech companies are looking for experienced partners.
These emerging trends are covered in Avasant's High-Tech Industry Digital Services 2021–2022 RadarView™. The report is a comprehensive study of digital service providers in the high-tech space, including top trends, analysis, recommendations, and a close look at the leaders, innovators, disruptors, and challengers in this market.
Avasant evaluated 35 providers using three dimensions: practice maturity, partner ecosystem, and investments and innovation. Of those 35 providers, 19 brought the most value to the market during the past 12 months.
Vinnie Tiru, high-tech industry vertical head at Avasant, congratulated the winners noting, "High-tech is the most digitally mature industry. With rising opportunities and rapidly changing demand levels, companies need to continually develop breakthrough innovations to deliver a more valuable customer experience."
Some of the findings from the full report include the following:
High-tech companies should:
1. Accelerate their Industry 4.0 transition to optimize processes and reduce costs.
- Scale up the digitalization of processes across the value chain such as AI (product design), IoT (production), and automation (procurement) to contain costs and drive efficiency.
- Leverage next-gen technologies such as immersive reality for remote collaboration and autonomous robots to perform repetitive tasks in order to reduce human dependency and errors.
2. Modify their GTM strategy to reimagine customer experiences and expectations.
- Analyze the preferences, buying patterns, and demands of customers to provide personalized products (laptops and smartphones) and value-added services (bots for customer services).
- Promote "as-a-service" models to reduce financial burdens, provide updated and regular security, and increase the flexibility of devices for managing customer expectations.
"Digital transformation is the catalyst for high-tech companies to unlock growth opportunities and identify new revenue streams," said Avasant's principal analyst, Parinita Singh. "With so many technologies in play and areas to invest, the right service provider can be a real boost."
The full report also features detailed RadarView profiles of the 19 service providers, along with their solutions, offerings, and experience in assisting high-tech companies in digital transformation.
This Research Byte is a brief overview of the High-Tech Industry Digital Services 2021-2022 RadarView™ (click for pricing).
Media Contact
Swapnil Bhatnagar, Avasant, +1 310 643 3030, [email protected]
SOURCE Avasant
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