Digital Transformation Market: Introduction
Digital transformation is simply the utilization of advanced technologies such as big data, cloud computing and social media platforms instead of traditional methods or processes to improvise various processes used across businesses. Digital transformation has become a necessity for a number of businesses to reach out to a wider range of customers effectively, and to step up their business process efficiently.
Digital Transformation Market: Dynamics
In 2016, the value of global digital transformation market was estimated at around US$ 176.89 billion, and is expected to be growing at a significant pace over the forecast period. Escalating use of digital devices such as mobile phones, laptops, tabs and other applications is contributing in the growth of digital transformation market. Rise in adaptation of IoT (Internet of Things) technology, which promotes data-driven and connective solutions, by various industries such as healthcare, retail, food & beverages, BFSI and others is ultimately promoting the growth of digital transformation market.
Furthermore, inclination of businesses towards adoptation of digital and advanced solutions over traditional methods to handle disruption and to reduce or mitigate risks associated with the business such as fluctuation of marketplace and unpredictable geopolitical market situations are expected to aid to the growth of digital transformation market during the forecast period. However, rising concern over data theft and slower growth of IT infrastructure in some developing and underdeveloped regions can restrain the growth of digital transformation market.
Global Digital Transformation Market Size Analysis, By Region(2017-2025)
Digital Transformation Market: Segment Analysis
SME (Small & Medium Enterprise) segment is anticipated to be the fastest growing segment in terms of CAGR, due to rising number of SMEs globally, coupled with higher adoptation of digital technology such as cloud computing by SMES. Utilization of social media to promote business by SMEs is expected to bring significant change in their market growth and hence will ultimately contribute in the growth of digital transformation market.
Among product type, solution segment is expected to be showing significant growth over the forecast period, due to escalating requirement of businesses to keep their systems updated with novel or latest technology. Among end-use industry, healthcare is expected hold the major market share in the global digital transformation market, due to increased preference of healthcare providers to utilize novel business models, coupled with escalation in patient data, which needs to be handled efficiently with the help of digital technology.
Digital Transformation Market: Reginal Analysis
North America is expected to be holding the major market share in the global digital transformation market, owing to rising internet penetration in the region, coupled with higher consumer preference towards digital shopping and payment solutions. Highly developed IT infrastructure in North America is also anticipated to boost the growth of the region in forthcoming years.
Asia Pacific is projected to be the growing rapidly due to anticipated expansion in service sector, along with rising awareness towards digital technology and the benefits offered by them.
Digital Transformation Market: Key Players
Major players operating in global digital transformation market include Google Inc., Oracle Corporation, Dell EMC, Accenture Plc., Kelton Tech Solutions Ltd., Hewlett-Packard, IBM Corporation, Microsoft Corporation, and Adobe Systems Incorporated.
Digital Transformation Market Report Offer You!
Global Digital Transformation Market Size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.
Why You Should Choose us?
• We offer the best industry research services.
• Our panel of experts has tremendous experience in their respective fields
• We use advanced analytical tools to provide highly personalized industry intelligence research.
• We provide easy-to- use information.
Save Your Time
Wide Range of Reports
World Class Market Research
100% Customer Satisfaction
24/7 Customer care Support
Let's Talk Online