The research, entitled, "Unlocking the Economic Impact of Digital Transformation in Asia Pacific[1]", was produced by Microsoft in partnership with IDC Asia/Pacific.
The study with IDC identified China, Japan, and India, as the biggest potential contributors to the windfall, followed by South Korea, Australia, and Indonesia. According to the results of the study, different economies in the region are likely to keep moving at greatly different speeds. For example, fast-growing India and China are expected to enjoy a comparatively high Compound Annual Growth Rate (CAGR) of 1.0 percent, followed by New Zealand at 0.7 percent - while Singapore and Malaysia sit at 0.6 percent.
Also predicted in the study was a dramatic acceleration in the pace of digital transformation across Asia's economies. In 2017, about six percent of the region's GDP was derived from digital products and services created directly through the use of digital technologies, such as Mobility, Cloud, Internet of Things (IoT), and Artificial Intelligence (AI). This is expected to surge to around 60 percent of Asia's GDP by 2021.
The survey was conducted with 1,560 business decision makers in mid and large-sized organizations, across 15 economies in the region and it highlights the rapid impact and widespread disruption that digital transformation is having on traditional business models.
At Microsoft, we believe digital transformation has a positive and measurable impact on Asia Pacific's economy, and it is widely regarded that every organization needs to be a digital one. In fact, organizations are seeing tangible improvements from their digital transformation initiatives between the ranges of 15 to 17 percent, which shows that digital transformation is no