The Digital Transformation Market is expected to grow from US$ 445.4 Mn in 2017 to US$ 2,279.4 Mn by 2025 at a CAGR of 24.3% between 2018 and 2025.
The Digital Transformation Market is US$ 445.4 billion in 2017 and is estimated to reach US$ 2,279.4 billion by 2025. The digital transformation market has experienced high growth and adoption rate in the last few years and is also expected to experience a significant growth and adoption rate in years to come. One of the major reasons for high adoption of digital transformation is the fact that digital transformation solutions enable the companies to reach large masses.
Digital solutions has created a potential for companies to reach a huge mass of audience worldwide. For instance, Uber and Lyft, on-demand transportation companies, utilized digital platform and earned a huge success. These companies can be considered as a key illustration of how implementation of strategy and innovation, empowered by technology, can suddenly impact the development of the whole industry. Furthermore, in the fastest growing e-commerce market, more and more SMEs are now using online platform for providing their offerings to the customers. This has enabled them to extend their market reach, enhance external communication, augment sales, improve speed of processing, improve company image, as well as increase employee productivity.
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The global market for digital transformation has been segmented on the basis of component, which include solution and services. Solution segment is further divided into mobility, big data & analytics, artificial intelligence, IoT, and others, and the services segment is further divided into professional services and managed services. On the basis of deployment type, the market is categorized into cloud and on-premise deployment. On the basis of end-user, the market is categorized into BFSI, healthcare, education, retail, IT & Telecom, logistics & transportation, manufacturing, and others. The geographic segmentation of the report covers six major regions including; North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA). The regional market has been further bifurcated by respective countries.
Digital transformation is the change associated with the application of the digital technology in all the aspects of the human society. This enables new types of innovations and creativity in specific domains rather than simply enhancing and supporting traditional methods. Digital transformation solutions helping the companies to reach out to large masses is one of the major factor that will drive the growth of the market. Also, constantly evolving customer experiences encourage the companies to adopt digital solutions. However, issues related to the security and privacy affects the adoption of the digital solutions by major industry verticals. Moreover, factors such as Space for implementation across SMEs provides significant opportunity to the players in the value chain, and Increasing adoption of digital solutions by different industry verticals offers huge scope to the market to expand is expected to generate remarkable opportunities to the industry players in the future. Currently, digital transformation is being highly adopted by different industry verticals in all the regions. Especially, in North America, the adoption or shifting of the industry verticals towards digital transformation is very high as compared to every other region. Global digital transformation market is expected to grow from US$ 445.4 Bn in 2017 to US$ 2,279.4 Bn by 2025 at a CAGR of 24.3% between 2018 and 2025.
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The report segments the global Digital Transformation market as follows:
· Global Digital Transformation Market – By Components
- Solution
- Mobility
- Big Data & Analytics
- Artificial Intelligence
- IoT
- Others
- Services
- Professional Services
- Managed Services
· Global Digital Transformation Market – By Deployment Type
- Cloud
- On-Premise
· Global Digital Transformation Market – By End-User
- BFSI
- Healthcare
- Education
- Retail
- IT & Telecom
- Logistics & Transportation
- Manufacturing
- Others
List of companies
- IBM Corporation
- Accenture PLC
- SAP SE
- Microsoft Corporation
- Oracle Corporation
- Capgemini SE
- Adobe Systems Inc.
- Google Inc.
- Dell Inc.
- Cognizant Technology Solutions Corporation
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