As an advanced form of productivity led by technological innovation and breaking through the traditional mode of productivity development, the cultivation process of new quality productivity is deeply integrated with the development of the digital economy. The digital economy has become the core driving force for promoting industrial transformation and upgrading. This article analyzes the core concepts of new quality productivity and industrial transformation and upgrading, studies the mechanisms of technological innovation driven, factor allocation optimization, and industrial structure reshaping, and proposes optimization paths for core technology shortcomings, inefficient data factors, structural imbalances, and insufficient support. The aim is to construct a systematic framework for digital economy empowerment of industrial transformation and upgrading under the guidance of new quality productivity from the aspects of technological breakthroughs, market-oriented data factors, differentiated digital transformation, and improved support system.