According to the research study, the projected global digital transformation market size and share Growth CAGR of 23.6%.which is increases from USD 588.05 billion in 2021 and reach USD 3,739.06 billion By 2030.
What is Digital Transformation? What are the key trends and anticipated size of the Digital Transformation market?
Digital transformation is the process of integrating digital technologies across the enterprise to digitize existing services or operations. Digital transformation has now become essential for all businesses, from small to established. The purpose of this process is to create or modify current business processes and customer experiences to meet evolving business requirements. Cloud computing, Internet of Things, big data and artificial intelligence are some of the important digital technologies.
This incorporation increases the productivity of your business by reducing labor costs, improves the customer experience and keeps you ahead of the competition. The size of the digital transformation market is driven by the growing adoption of digital solutions in industries such as BFSI, automotive, healthcare, manufacturing and others. Also, the rise of advanced network and communication infrastructure is another factor driving the growth of the market.
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Key highlights of the report
- Market value data for each segment and sub-segment
- Analysis by geographical area with consumption of the product/service in the region
- Competitive landscape, incorporating the broad company profiles
- The current and future prospects of the sector with respect to recent developments
- In-depth analysis of market prospects through Porter’s five forces analysis
- Dynamic scenario, together with market growth opportunities
- Key strategic initiatives undertaken by key players
Some of the best companies in the digital transformation market
- Alcor Solutions Inc.
- The Apple company.
- Broadcom Inc
- AC technologies
- Dell Technologies Inc.
- Equinix Inc.
- Google inc.
- HCL technologies
- Hewlett-Packard Enterprise
- International Business Machine Corp.
- KELLTON TECHNOLOGY
- Microsoft Corp
- Oracle company
- SAP company
- TIBCO Software Inc.
- Yash technologies
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- The growing adoption of various advanced technologies has a positive impact on the market
The increasing use of various transformative technology solutions such as IoT, modernization and automation to enhance the productivity and capacity of converting systems is driving the growth of the industry. The development of digital transformation in Industry 4.0 mainly feeds the market demand. The increasing investments in IT industry, the growing developments of smart gadgets and the advancements in network infrastructure are some of the crucial trends of the digital transformation market driving its growth. The increase in the use of mobile devices is one of the major factors supporting the growth of the market.
Additionally, digital transformation has the ability to improve performance and reduce errors, saving time and effort. It also offers flexibility, convenience, collaboration and performance of organizational functions. These applications are expected to create lucrative growth opportunities in the digital transformation market. With digital technologies, organizations are introducing many new technically advanced products and services thus accelerating the market expansion.
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- In August 2021Intel India and Society for Innovation & Entrepreneurship (SINE)-IIT Bombay have teamed up and unveiled their Plugin Alliance to foster the growth of Industry 4.0.
- In March 2021The UK government is planning to launch an initiative known as the Government Digital Service (DSG), which offers a simple digital identity solution and helps ‘create single sign-on’ that works for everyone.
Digital Transformation Market: Scope and Report Analysis
Revenue forecast in 2030
USD 3,739.06 billion
Market size value in 2021
USD 588.05 billion
Expected CAGR growth
23.6% from 2022 to 2030
2022 – 2030
The best players in the market
Accenture, Adobe, Alcor Solutions, Inc., Apple, Inc., Broadcom, Inc, CA Technologies, Cognizant, Dell Technologies Inc., Equinix, Inc., Google, Inc., HCL Technologies, Hewlett Packard Enterprise, Interfacing, Global Business Machines Corp., KELLTON TECH, Marlabs, Microsoft Corp, Oracle Corporation, SAP Company, Smartstream, TIBCO Software Inc. and Yash Technologies
By type, by distribution, by company size, by end use, by region
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- Segment the solution to hold the largest share of revenue during the forecast period
On a basis of type, the solutions segment accounts for the largest share of the digital transformation market in 2021 and is estimated to maintain its dominant position over the forecast period. This is because organizations require the development of the technical landscape for the timely improvement of their systems in order to successfully survive in the competitive edge of the global market. Therefore, the growing market demand for actionable insights from enterprise data created by the organization drives the growth of the segment in the digital transformation industry. Additionally, an increase in the use of apps in advanced processes and devices is expected to boost the development of the segment.
- The Healthcare segment dominates the market
In terms of end use, the healthcare segment had the largest revenue share in 2021 due to the growing need for electronic data in patient outreach and operational channels in the healthcare sector. The growing amount of patient information requires an extensible version of the technology. Thus, this technology model is expected to help manage patient data, reduce risks, and plan strategies. These factors are responsible for the accelerating growth of the digital transformation market segment.
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- North America represents the largest share of revenue
By geography, the digital transformation market in North America dominates the market due to the increased adoption of technologies such as digital transformation, big data, analytics, cloud, IoT and mobility. Growing Internet penetration also stimulates market growth North America. Other factors supporting regional demand include the growing adoption of digital payment methods and the prevalence of key players in the industry.
Furthermore, Asia Pacific is expected to show the highest growth globally over the forecast period. This growth can be attributed to the growing number of small and medium-sized organizations as well as the growing awareness of the benefits of cloud-based solutions and further technological developments.
Browse the detailed report “Digital Transformation Market Share, Size, Trends, Industry Analysis Report, By Type; By Deployment (Hosted, On-Premises); By Company Size; By End-Use (BFSI, Government, Healthcare, IT & Telecom, manufacturing, retail, others); by region; segment forecast, 2022 – 2030″ with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/digital-transformation-market
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Polaris market research segmented the Digital Transformation market report on the basis of type, implementation, firm size, end use and region:
By type Outlook
- Cloud Computing
- social media
- Professional services
- Implementation and integration
For distribution perspective
By company size Outlook
- Big Business
- Small and Medium Enterprise
For final use Outlook
- BFS extension
- Health care
- IT and Telecommunications
By region Outlook
- North America (WE, Canada)
- Europe (France, GermanyUK, Italy, Holland, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi ArabiaUnited Arab Emirates, Israel, South Africa)
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