The
global Digital Transformation Market size is anticipated
to reach USD 4,617.78 billion by 2030 and it is projected to grow at a CAGR of
27.6% from 2024 to 2030, according to new report by Grand View Research,
Inc.Digital transformation assists companies in improving their brand
reputation, customer experience, and customer retention ratios. These solutions
also help end-user companies in education and training their employees to
improve their productivity and speed up the organization’s journey to achieve
business objectives. Furthermore, with the implementation of digital
transformation solutions, organizations can meet the evolving market needs and
improve their business profitability. Further, the market growth is
particularly driven by rising companies’ investments in big data, mobility, and
cloud technologies to develop advanced Digital Experience Platforms (DXPs).
The
growing use of mobile devices and their applications has transformed the
various aspects of modern life. Across the globe, organizations and enterprises
are shifting from traditional brick-and-mortar operations to digital
operations, driving the market growth. Furthermore, the emergence of novel
technologies such as the Internet of Things (IoT), Robotic Process Automation
(RPA), Machine Learning (ML), and Artificial Intelligence (AI), has increased the importance
of mobile applications. The way businesses operate has changed dramatically in
recent years, which is why having an attractive and innovative mobile
application improves the way target clients interact and engage with services
that the company offers. Further, consumers now have access to different types
of apps and are provided under digital transformation solutions due to
increasing smartphone adoption, creating positive outlook for the market.
The
COVID-19 pandemic has forced various businesses to opt for cloud technology for
remote working. This has resulted in growing demand for cloud services creating
a favorable environment for market growth. This has resulted in the increased
adoption of cloud services to ensure business continuity. Businesses are
renewing their contracts with cloud service providers while anticipating an
increase in cloud migrations and, in some cases, an acceleration in cloud
transformation from their customers. The widespread adoption of a number of
digital-first payment methods highlights the paradigmatic shift led by the
pandemic. The Buy Now, Pay Later (BNPL) trend has witnessed
increased popularity in 2020 & 2021. During the pandemic, Fintech
innovation has not only helped meet the changing needs of consumers but also
ensured that financial services were made easily available to those who needed
them the most, creating robust opportunities for market growth.
List of Players in Digital Transformation Market
- Accenture
plc
- Adobe
Systems Inc.
- Broadcom,
Inc.
- Cisco
Systems, Inc.
- Dell EMC
- Dempton
Consulting Group
- Google Inc.
- Happiest
Minds
- Hewlett
Packard Enterprise Co.
- International
Business Machines Corporation
- Kellton Tech
Solutions Ltd.
- Microsoft
Corporation
- Salesforce,
Inc.
- SAP SE
- TIBCO
Software
Related Press
Release@ Digital Transformation Market Report
Digital Transformation Market Report Highlights
- Based on
solution, the social media segment is expected to grow at a fastest CAGR
of 29.5% over the forecast period. The growing number of users of social
media platforms, the shifting focus of end-user companies on improving
their brand identity through creative advertisements on social media
platforms, and advancements in social media tools are driving the segment
growth
- Based on
service, the professional services segment is expected to grow at a
fastest CAGR of 29.2% over the forecast period as these services help
organizations in digitizing their business operations. The professional
services help end-user organizations select proper digital transformation
solutions, manage the operations of cloud-based digital transformation
solutions, address client issues, and effective resource utilization,
among other assistance
- Based on
deployment, the hosted segment is expected to grow at a CAGR of 30.8% over
the forecast period. The proliferation of cloud-based digital
transformation solutions, cloud technology’s various benefits such as
minimum hardware requirement, low operating costs, & easy
accessibility, and rising public & private investment in cloud
platforms are driving the segment growth
- Based on
enterprise, the small & medium-sized enterprises (SMEs) segment is
expected to grow at a fastest CAGR of 29.2% over the forecast period. The
increasing importance of digital technologies and the availability of
low-cost digital transformation solutions are driving the market growth
among SMEs
- Based on
end-use, the healthcare segment is expected to grow with a fastest CAGR of
29.4% during the forecast period. Digital transformation is anticipated to
improve the quality of patient care. The COVID-19 pandemic propelled the
adoption of advanced medical technologies such as remote patient
monitoring, telemedicine, virtual reality, and
neurotechnology, supporting the segment's growth
- The Asia
Pacific market is expected to grow at a remarkable CAGR of 30.3% during
the forecast period, owing to the expansion of the e-commerce industry,
government investments in digital infrastructure, and the growing use of
process automation tools powered by the latest technologies, such as AI,
ML, Blockchain, and cloud computing.
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Digital Transformation Market Segmentation
Grand
View Research has segmented the global digital transformation market based on
solution, service, deployment, enterprise size, end-use, and region:
Digital Transformation Solution Outlook (Revenue, USD
Billion, 2018 - 2030)
- Big Data
& Analytics
- Artificial
Intelligence (AI)
- Cyber
Security
- Cloud
Computing
- Mobility
- Social Media
- Others
(Internet-of-Things (IoT), Blockchain)
Digital Transformation Service Outlook (Revenue, USD
Billion, 2018 - 2030)
- Professional
Services
- Implementation
& Integration
Digital Transformation Deployment Outlook (Revenue, USD
Billion, 2018 - 2030)
- Hosted
- On-premise
Digital Transformation Enterprise Outlook (Revenue, USD
Billion, 2018 - 2030)
- Large
Enterprise
- Small &
Medium Enterprise
Digital Transformation End-use Outlook (Revenue, USD
Billion, 2018 - 2030)
- BFSI
- Government
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- Others
(Education, Media & Entertainment, Transportation, Travel &
Hospitality)
Digital Transformation Regional Outlook (Revenue, USD
Billion, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Latin
America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- Saudi
Arabia
- South
Africa
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