Global Digital Transformation Market Overview:
The incorporation of digital technologies into all aspects of a business in order to improve how they work and provide value to their customers is known as digital transformation. It's used to increase efficiency by improving processes, providing improved customer and employee interactions, managing market risk, and controlling costs. The demand for digital transformation is being fueled by an increasing number of companies transitioning to technology-driven solutions to keep up with the rapid pace of business growth. The digital transformation market is expected to be driven by end-user industries such as BFSI and healthcare. Furthermore, through enhanced communications and quicker customer support systems, digital transformation has aided companies in expanding their customer base.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Emergence of AI to Collect and Analyzed Data and Governments Initiative for Investing in Digital 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.
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions expansions investments new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are 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). Additionally, following companies can also be profiled that are part of our coverage like Hewlett Packard Enterprise (United States), CA Technologies (United States), TIBCO Software (United States) and Marlabs (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Digital Transformation market by 2030. Considering Market by Organization Size, the sub-segment i.e. Small and Medium-sized Enterprises (SMEs) will boost the Digital Transformation market. Considering Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Digital Transformation market. Considering Market by Technology, the sub-segment i.e. Cloud Computing will boost the Digital Transformation market. Considering Market by Offering, the sub-segment i.e. Software will boost the Digital Transformation market.
Latest Market Insights:
In November 2023, Bosch launched its AI-powered predictive maintenance platform, Nexeed Industrial Analytics. This platform helps manufacturers avoid costly downtime by predicting potential equipment failures and allowing for proactive maintenance.
In November 2023, Siemens and Dassault Systèmes announced a strategic partnership to accelerate innovation and digitalization in the manufacturing industry. This collaboration will combine their expertise in automation and software solutions to offer comprehensive solutions for digital transformation across various industry sectors.
What Can be Explored with the Digital Transformation Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Digital Transformation Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Digital Transformation
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Digital 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, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Digital Transformation market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of 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 New Entrants/Investors, Analysts and Strategic Business Planners, Service Providers, Software Companies, Government and Private Organisation, End-User Industries, Potential Investors and IT Companies.
This helps us to gather the data related to 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 includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.