PORTSMOUTH, N.H., Dec. 12, 2023 /PRNewswire/ — More than half (52%) of companies currently host critical enterprise applications in the Cloud while 76% believe artificial intelligence (AI) will be an important part of their supply chain within the next three years, according to an annual report published today by Loftware, the largest global software company specializing in Enterprise Labeling and Artwork Management solutions.
The global survey, which draws on insights from over 300 labeling, packaging, and supply chain professionals across industries in 55 countries, found that investing in cutting-edge technologies such as cloud computing, AI, and IoT solutions is no longer a tactical necessity but an enabler for business growth and agile supply chain operations. This shift in prioritization has primarily been driven by ongoing supply chain disruption, heightened consumer expectations, and growing sustainability demands.
“As companies plan for 2024 and beyond, the combination of geopolitical uncertainties, climate instability, and the threat of recession continues to impact companies of all sizes. Organizations are grappling with disruptions that extend far beyond the traditional scopes, requiring a strategic recalibration to weather the storm and emerge stronger in the face of adversity,” said Josh Roffman, EVP of Marketing at Loftware. “With this in mind, a commitment to bolstering digital transformation strategies through investment in innovative technologies will be critical to streamline operations, drive growth, and increase profitability.”
Gartner, a leading technology analyst firm, supports this notion and reports that global end-user spending on public cloud services is forecast to grow 20.4% to total $678.8 billion in 2024, up from $563.6 billion in 2023.
The Loftware report also revealed that sustainability has become a crucial strategic and operational priority for organizations of all sizes around the globe. Of those surveyed by Loftware, 78% said they have already adopted sustainability initiatives across their organizations due to increased regulations and shifting consumer preferences. In fact, 77% of respondents believe stricter regulations and compliance requirements are pushing businesses to adopt sustainability practices, while 82% reported that consumer preferences for sustainable products are driving this approach.