Global Digital Transformation Market was valued US$ 296.68 Billion in 2019 and is expected to reach US$ XX Billion by 2027, at CAGR of 17.5 % over forecast period 2020- 2027.

Global Digital Transformation Market Size – Industry Analysis and Forecast (2017-2024) _ by Component (Solution and Services), by Deployment Type (On-Premises and Cloud), by Enterprise Size (Large Enterprise and Small and Medium Enterprise), by Vertical (Banking, Financial Services and Insurance (BFSI), Telecom & IT, Automotive, Education, Retail & Consumer Goods, Media & Entertainment, Manufacturing, Government, Aviation & Defense, Transportation, Others) and by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)

Digital transformation can be defined as the use of the digital technologies such as cloud computing, big data, mobility, and social media to improve the business processes. Digital transformation holds the potential to streamline and integrate all business operations for rise in the business performance efficiency. Digital transformation solutions helping the companies to reach out to large masses is one of the major factor that will drive the growth of the market. Digitally transformed organizations are able to adapt to the evolving technological landscape and are able to tackle sudden shifts in the industry.

Global Digital Transformation Market is mainly driven by factors such as the growth in penetration of IoT-based products and devices in day to day life, increase in the usage of mobile devices and apps, and rise in dependency of business on IoT based products and solutions.

However, factors such as underdeveloped ICT infrastructure in the developing nations, and Cyber security threats are restraning the growth of the market.

Rise in dependence of the retail, BFSI, and automotive sectors on IoT-based products & solutions is expected to provide lucrative growth opportunities for the market.

Global Digital Transformation Market is segmented by Solution, by Services, by Deployment Type, by Enterprise Size and by Region. By Solution, global digital transformation market is segmented into IoT, cloud computing, big data analytics, artificial intelligence, cyber security, mobility solutions, AR/VR, robotic process automation, others. Among these, IoT is held highest market share in 2018 and expected to keep its dominance over forecast period. IoT solution segment is on high growth trajectory driven by digital initiatives of the various governments across the globe Various infrastructural projects such as smart cities and digitalization are creating high growth opportunities giving further push to the IoT solution segment across various service sectors namely communication, healthcare, technology, energy, banking, and others.

By industry vertical, the education segment of the digital transformation market which compromises academic and research industries is projected to grow at the highest rate over forecast period. Increasing demand for platform independent or cross-platform applications from the education vertical translates into huge growth opportunities for the digital transformation solution vendors.

By geography, market is segmented into North America, APAC, Europe, MEA& Africa and Latin America. Among all of these North America held the highest market share in 2019 and is expected to keep its dominance over forecast period. Digital transformation requires a very agile and flexible IT support, which is present in the majority of companies of this region. This can be attributed to the rise in penetration of internet and the accelerated use of different type of online payment modes, especially in the retail sector.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Microsoft Corporation, Oracle Corporation, Accenture, Google Inc., SAP AG, IBM Corporation, Dell EMC, Adobe Systems, Hewlett-Packard (HP), CA Technologies, and PLC among others. These companies are adopting various organic and inorganic growth strategies such as merger and acquisition, joint ventures, expansion, strategic alliances, patent and new software launches etc. to increase their regional presence and business operations.

Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Digital Transformation Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Digital Transformation Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Digital Transformation Market positioning of competitors.

https://www.maximizemarketresearch.com/market-report/digital-transformation-market/2813/

Contact: 

MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights,
Manik Baug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 96071 95908/ 9607065656

For more information visit: https://www.maximizemarketresearch.com/market-report/digital-transformation-market/2813/

By: www.maximizemarketresearch.com

Leave a Replay

Your email address will not be published. Required fields are marked *

*
*