What is Digital Business Transformation ?
Digital business transformation, an integration of digital technology to meet customer expectation and improve the speed and efficiency in which services are provides in all areas of a business. It is a profound transformation of business and organisational activities, competencies and models to wholly leverage the changes and opportunities of a mix of digital technologies, with present and future shifts. Digital transformation adoption has reached the next level in some countries, especially developed ones. Technically advanced countries such as Japan aims to use digital transformation in the country’s new initiative known as Society 5.0, which is highly advanced as compared to ongoing Industry 4.0 trend.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
Key Companies Profiled | IBM Corporation (United States), Microsoft Corporation (United States), SAP (Germany), Dell EMC (United States), Cisco Systems, Inc. (United States), Google (United States), Accenture PLC (Ireland), CA Technologies (United States), Cognizant (United States), Adobe Systems (United States), Oracle Corporation (United States), Hewlett Packard Enterprise (United States), HCL Technologies (India), TIBCO Software (United States) and Marlabs (United States) |
CAGR | 20.2% |
The Global Digital Business Transformation market is expected to see growth rate of 20.2% and may see market size of USD700.1 Billion by 2028. The study covers a detailed analysis segmented by key business segments i.e. and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Digital Business Transformation market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Digital Business Transformation market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are IBM Corporation (United States), Microsoft Corporation (United States), SAP (Germany), Dell EMC (United States), Cisco Systems, Inc. (United States), Google (United States), Accenture PLC (Ireland), CA Technologies (United States), Cognizant (United States), Adobe Systems (United States), Oracle Corporation (United States), Hewlett Packard Enterprise (United States), HCL Technologies (India), TIBCO Software (United States) and Marlabs (United States).
Market Overview:
In 2021 Accenture has formed strategic collaboration with Kubota Corporation. It is mainly to accelerate ongoing digital transformation by evolving its business model for further environmental sustainability solutions. It will further leads to the creation of platform for both companies which combines Accenture's digital technologies with company's sustainable solutions.
Market players are focusing on providing digital business transformation with higher quality along with complying all regulatory standards. They are also focusing on the introduction of numerous advanced & attractive features. The market is fragmented owing to the presence of several international and domestic providers. The high focus on the offering cost effective product offerings. Besides, the numerous industry profitability has led the entry of new players, in turn, increasing the level of rivalry in the already competitive market.
Influencing Trend:
Continuously Proliferation of Mobile Devices and Application and The Advent of IoT and Rapid Adoption of Cloud Services
Market Growth Drivers:
Digitalizing Organizational Business Functions to Serve Changing Customer Preferences and Enhance Operational Efficiency and The Emergence of Industry 4.0 and Rapid Advances in Digital Technology are Redefining Society
Challenges:
The Dearth of Skilled Professionals and Issues Related to IT Modernization
Restraints:
Security and Privacy Concerns for Confidential Data
Opportunities:
Demand for Personalized Digital Transformation and The Growth in the Usage of Disruptive Technologies include Artificial Intelligence, Machine Learning, and Big Data Globally
Key highlights of the Global Digital Business Transformation market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Digital Business Transformation market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Digital Business Transformation market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Digital Business Transformation Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Digital Business Transformation market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Digital Business Transformation market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Technology Providers, Software Companies, Cloud Service Providers, Hardware Manufacturing Companies, End Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.