High-Tech Industry: Driving Innovation in High-Tech through Digital Transformation

July, 2023

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.

Both demand-side and supply-side trends are covered in our High-Tech Industry Digital Services 2023–2024 Market Insights™ and High-Tech Industry Digital Services 2023–2024 RadarView™, respectively. These reports present a comprehensive study of digital service providers in the high-tech industry, including top trends, analysis, and recommendations. It takes a close look at the leaders, innovators, disruptors, and challengers in this market.

We evaluated 44 service providers across three dimensions: practice maturity, partner ecosystem, and investments and innovation. Of the 44 providers, we recognized 23 that brought the most value to the market over the past 12 months.

The reports recognize service providers across four categories:

    • Leaders: Accenture, Capgemini, Cognizant, HCLTech, Infosys, and Wipro
    • Innovators: IBM, LTIMindtree, Persistent Systems, TCS, Tech Mahindra, and Zensar
    • Disruptors: Atos, Birlasoft, DXC, Genpact, Unisys, and UST
    • Challengers: HARMAN Digital Transformation Solutions, Jade Global, Samsung SDS, SoftServe, and Virtusa

Figure 1 below from the full report illustrates these categories:

MoneyShot Template High Tech Industry 2023 2024 Market Insights 1030x687 - High-Tech Industry: Driving Innovation in High-Tech through Digital Transformation

“From metaverse to generative AI, high-tech enterprises are at the forefront of this technology revolution,” said Rachit Bhagat, senior director at Avasant. “Enterprises must invest in data, digital talent, and strategic acquisitions to explore these disruptive technologies and continue to develop futuristic use cases.”

The reports provide several findings, including the following:

    • High-tech manufacturers are strategizing to encourage insourcing and domestic production while leveraging AI, analytics, and 3D printing technologies to minimize supply chain risks.
    • 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.
    • They are using large language models to expedite product development life cycles, boost sales, and improve customer experience.
    • These enterprises are using differentiated business models to reduce costs, cut down complexities, and deliver scalability. New business models, such as everything-as-a-service, digital marketplaces, industry cloud offerings, and joint go-to-market strategies, are helping enterprises increase market reach and efficiently solve operational inefficiencies.
    • They are adapting to the increasing sustainability regulations and are helping clients comply with guidelines.

“High-tech products are increasingly finding applications in disruptive areas, such as autonomous driving, advanced networks, and generative AI infrastructures,” said Anubhav Satapathy, senior analyst at Avasant. “Firms should seek help from service providers to establish a resilient supply chain, manage costs, and reduce operational inefficiencies.”

The RadarView also features detailed profiles of 23 service providers, along with their solutions, offerings, and experience in assisting high-tech enterprises in their digital transformation journeys.

This Research Byte provides a brief overview of the High-Tech Industry Digital Services 2023–2024 Market Insights™ and High-Tech Industry Digital Services 2023–2024 RadarView™. (click for pricing).