The important players in the market include Google, SAP, Accenture, IBM, Microsoft and Dell EMC Among Others
The global digital transformation market size is expected to reach $1,561 billion in 2028, and register a CAGR of 16.1% during the forecast period, states a research report.
The “Digital Transformation Market Size, Share & Analysis, By Technology, By Component, By Deployment Mode, By Organization Size, By Business Function, By End-Use Industry, And By Region, Forecast To 2028” report is prepared by ResearchAndMarkets.com’s.
The report finds that rapid digitalization globally shifting approach towards modernised business functioning set-up, rising need for Big Data analysis in various sectors for analyzing customer data and offering enhanced products and services are factors driving growth of the global digital transformation market.
Rapidly growing electronics industry, especially in developing countries in Asia Pacific, increasing sales of consumer electronics such as personal computers laptops, smartphones, tablets, etc. is further supporting growth of the global digital transformation market.
“Growing adoption of high-end technologies such as cloud platform, Big Data analytics, Internet of Things, Internet of Everything, Machine Learning, etc. is a key factor driving market growth,” states the report.
Rising trend of Bring Your Own Device concept, as well as recent outbreak of Covid-19 are resulting in digitalization of operations. These major trends are gaining traction, thereby driving market growth. However, high cost required for digitalization, possibilities of security breaches are factors that could restrain market growth to some extent.
Besides key findings like the component segments, the solution segment accounted for the largest revenue share of 64.4% in 2020, the report states that services segment is expected to register the highest revenue growth rate during the forecast period.
Among the end-use industry segments, the BFSI segment accounted for major revenue share in 2020. Increasing use of smartphones and Internet for Internet banking, and online transactions is expected to drive revenue growth of the BFSI segment. North America market accounted for the largest revenue share in the global digital transformation market in 2020, due to high use of Internet and online payment methods, strong presence of major players in countries in the region.
The Asia Pacific market size was $98.64 Billion in 2020, due to rapid digitalization in the region, government initiatives to promote use of digital platforms, and rising adoption of cloud services.
Key players profiled in the report include
IBM Corporation,
Microsoft Corporation,
SAP,
Dell EMC,
Google,
Accenture PLC,
CA Technologies,
Cognizant,
Adobe Systems,
Oracle Corporation,
Hewlett Packard Enterprise,
HCL Technologies,
TIBCO Software,
Marlabs,
Equinix.
The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
Reasons to Buy the Report
A robust analysis and estimation of the Digital Transformation Market with four levels of quality check – in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
A holistic competitive landscape of all the major players in the Digital Transformation Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key development
Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilisation
