This report identifies key demand-side trends in the high-tech industry that can help enterprises fine-tune their digital strategies. It also provides an overview of enterprise challenges in this space based on Avasant’s assessment.

Why read this Market Insights?

High-tech enterprises are under constant pressure to navigate supply chain risks, comply with regulatory guidelines, minimize costs, deliver implementation flexibility, and establish technology leadership in the market. They are trying to overcome these pressing challenges by leveraging digital technologies to improve inventory planning and supply chain visibility. They are also exploring use cases around advanced technologies, such as generative AI, metaverse, and edge computing, to accelerate product development phases and fulfill changing customer expectations. As this requires strong technological expertise and delivery capabilities, high-tech enterprises are collaborating with service providers for digital transformation.

The High-Tech Industry Digital Services 2023–2024 Market Insights™ aids high-tech industry enterprises in identifying important market trends and challenges for any digital project they participate in.

Methodology

The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.

Table of contents

About the report (Page 3)

Executive summary (Pages 4–7)

• • Defining high-tech industry scope
  • Key drivers and enterprise response
  • Avasant recognizes 23 top-tier service providers supporting the high-tech industry in digital transformation

Demand-side trends (Pages 8–15)

• • Supply chain risks are forcing governments across the globe to reduce foreign dependency on semiconductor manufacturing, and high-tech manufacturers, in tandem, are leveraging digital technologies to sail through these disruptions
  • Semiconductor manufacturers are diversifying their hardware and technology application areas to drive revenue growth
  • High-tech firms are prioritizing talent development and strategic acquisitions to establish technology leadership
  • High-tech firms are using LLMs to expedite product development life cycles, boost sales, and improve customer experience
  • High-tech firms are using differentiated business models to reduce costs, cut down complexities, and deliver scalability
  • High-tech firms are adapting to the increasing sustainability regulations and are helping clients comply with guidelines

Key contacts (Page 17)

Read the Research Byte based on this report.

Please refer to Avasant’s High-Tech Industry Digital Services 2023–2024 RadarView™ for detailed insights on the service providers and supply-side trends.