Product Transformation Market Scope
Product transformation is the integration of digital technology into all areas of a product business in order to change how they operate and how they deliver value to their customers. It’s used to optimizing processes and improve productivity, deliver better customer and employee experiences, manage business risk, and control cost. Increasing numbers of organizations that are switching towards using technology driving solutions to match the rapid pace of business growth boosting the demand for product transformation market. Growth of end-user industries like BFSI and healthcare sectors is expected to drive the product transformation market. Furthermore, product transformation has helped organizations in expanding customer base through better interactions and swifter customer support services.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM Corporation (United States), Cognizant (United States), SAP (Germany), Dell EMC (United States), Microsoft Corporation (United States), Adobe Systems (United States), Accenture PLC (Ireland), Capgemini (France), Oracle Corporation (United States) and Google (United States) |
CAGR | % |
Product Transformation market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Product Transformation market throughout the predicted period.
IBM Corporation (United States), Cognizant (United States), SAP (Germany), Dell EMC (United States), Microsoft Corporation (United States), Adobe Systems (United States), Accenture PLC (Ireland), Capgemini (France), Oracle Corporation (United States) and Google (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Hewlett Packard Enterprise (United States), CA Technologies (United States), TIBCO Software (United States) and Marlabs (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Product Transformation market by Type , by Application (Small Medium Enterprises and Large Enterprises) and Region with country level break-up.
On the basis of geography, the market of Product Transformation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In Feb 2019, COFCO International (CIL), China's largest food and agriculture company has selected IBM to integrate and digitally transform its business processes with the implementation of a new SAP platform, including SAP S/4HANA®, SAP® Ariba®, SAP® SuccessFactors®, and SAP Master Data Governance.
In Feb 2019, Microsoft Corp. and Telecom Egypt announced their collaboration to extend Microsoft’s cloud network to Egypt. Telecom Egypt will provide low-latency connectivity into and across Egypt to help enhance performance and increase reliability for customers of Microsoft services. The partnership will increase Microsoft’s reach to the large Egyptian market in addition to improving connectivity across North Africa and the Middle East.
Influencing Trend:
The Emergence of AI to Collect and Analyzed Data and Governments Initiative for Investing in Product Transformation
Market Growth Drivers:
Rising Penetration of IoT and Adoption of Cloud Services and Automation and Digitalization in Business Functions
Challenges:
Lack of Skilled Professional and Underdeveloped IT Infrastructure in Developing Countries
Restraints:
Security and Privacy Concern for Data
Opportunities:
Growth in Demand from Developing Countries and Upsurging Usage of Different Technologies such as IoT, AI, Machine Learning, etc.
Key Target Audience
Service Providers, Software Companies, Government and Private Organisation, End-User Industries, Potential Investors and IT Companies