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Global Digital Transformation Market – Industry Trends and Forecast to 2030

  • ICT
  • Upcoming Report
  • Nov 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Digital Transformation Market, By Component (Solution, Services), Deployment Model (On-Premise, Cloud), Technology (Industrial Robotics, Internet of Things, 3D Printing/Additive Manufacturing, Advanced Human Machine Interface, Big Data and Analytics, Machine Learning, Artificial Intelligence), Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), End User (Banking Financial Services and Insurance (BFSI), Healthcare, Telecommunication and IT, Automotive, Education, Retail and Consumer Goods, Media and Entertainment, Manufacturing, Government, Others)  – Industry Trends and Forecast to 2030.

Digital Transformation Market

Digital Transformation Market Analysis and Size

Advanced thinking and change in business have been sparked by advanced technologies such as the Internet of Things, cloud computing, big data analytics, mobility, and social media. The "digital transformation" of business operations refers to the tries to modify resources and technology and integrate digital technologies used to serve customers better. IoT, cloud migrations, and other projects. These technologies helped businesses to accelerate their digital transformation worldwide. Digital technology has accelerated to substitute antiquated processes with modern, efficient ones.

Data Bridge Market Research analyses that the digital transformation market was valued at USD 752.38 billion in 2023 and is expected to reach the value of USD 4339.82 billion by 2030, at a CAGR of 23.60% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Digital Transformation market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Component (Solution, Services), Deployment Model (On-Premise, Cloud), Technology (Industrial Robotics, Internet of Things, 3D Printing/Additive Manufacturing, Advanced Human Machine Interface, Big Data and Analytics, Machine Learning, Artificial Intelligence), Organization Size (Small and Medium Enterprises (SMEs), Large Enterprises), End User (Banking Financial Services and Insurance (BFSI), Healthcare, Telecommunication and IT, Automotive, Education, Retail and Consumer Goods, Media and Entertainment, Manufacturing, Government, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Global (MEA) as a part of Global (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Microsoft  (U.S.), IBM (U.S.), SAP SE (Germany), Oracle (U.S.), Google  (U.S.), Cognizant (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Adobe (U.S.), Accenture (Ireland), HCL Technologies Limited (India), Broadcom (U.S.), Equinix, Inc. (U.S.), Dell Inc., (U.S.), TIBCO Software Inc. (U.S.), Marlabs (U.S.), Alcor Solutions, Inc. (U.S.), SmartStream Technologies ltd. (U.K.), Yash Technologies (U.S.), Interfacing (Canada), Kissflow, Inc. (India), eMudhra (India), Process Maker (U.S.), Process Street (U.S.), Happiest Minds (India), Scoro Software  (U.K.), Brillio (U.S.) and Aexonic Technologies (U.S.)

Market Opportunities

  • Growing rate of digitization
  • Rising number of small and medium-scale enterprises
  • Increasing number of digital payment platforms

Market Definition

Digital transformation involves digital technology into several areas of a business, primarily changing how you operate and deliver value to consumers. It's also a cultural change that requires organizations to frequently challenge the status experiment quo and get comfortable with failure. Digital transformation allows business services to improve operations, improve customer experiences, create a brand reputation, and improve customer retention.

Global Digital Transformation market

Drivers

  • Advantages of digital transformation

Digital transformation can simplify, integrate and transform daily business operations by increasing performance proficiently. Moving from a conventional setup to a new digitalized setup helps introduce several technically advanced services and products. It aids associations in establishing their operations to save effort and time and proficiently use resources. Digital transformation replaces traditional business processes with the help of automation and reduces the chance of errors by users. The increasing advantages of digital transformation is anticipated to drive the market growth rate.

  • Rising demand of latest and advanced technology

The increasing demand for digital and automated technologies across the manufacturing sector has surged rapidly in last few years. The manufacturers are progressively adopting the latest technologies to digitalize and automate the process to increase the quality and productivity of product. The growing demand for the latest and advanced technologies such as internet of things, big data analytics, artificial intelligence, and cloud computing across numerous business enterprises is considerably driving the global digital transformation market growth. 

Opportunities

  • Growth and developments in the field of technology

In these last few years, the world witnessed several developments that took important place in the field of technology, for instance, quantum computing, Artificial Intelligence (AI), predictive analysis, blockchain and Machine Learning (ML), among others. Organizations are generating a remarkable amount of data, requiring technological support such as powerful analysis tools and machine learning algorithms to develop insights. This is one of the major factors promoting the adoption of technologies such as digital transformation and makes the workflow more organized for daily operations. These growth and developments in the field of technology will create immense opportunities for market growth in upcoming years.

  • High usage of digital transformation in healthcare sector

Digital technology is highly used in the healthcare sector due to the increasing end-user dependency on digital health platforms, government initiatives and growing geriatric population. As per the report of U.S. Department of Commerce’s International Trade Administration, overall social protection expenditures amounted in Finland to 31% of GDP in 2017, while social expenditures for healthcare accounted for 22.1% of GDP. This has further helped the healthcare industry in the field of global digital transformation market.

Restraints

  • Issues associated with digital transformation

Lack of skilled personnel and increasing privacy and security concerns for confidential data are some of the major factor among other will act as limitations for the growth of digital transformation during the forecast period of 2023-2030. The various issues related to IT modernization have the potential to challenge the digital transformation market growth.

This digital transformation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the digital transformation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Digital Transformation Market

The outbreak of coronavirus has positively affected the digital transformation market. Most of the businesses suffered huge losses owing to the lockdown condition and they were forced to invest highly on the digitization of their operations. Thus, the COVID-19 pandemic has significantly and positively impacted the global digital transformation market growth. The rapid adoption of the internet, wireless connectivity and cloud computing is anticipated to change the way of several industries. The BFSI, pharmacies, healthcare, retail, education are some of the industries that are projected to predict a drastic change owing to the mounting importance of smart devices and internet during pandemic.

Recent Development

  • In July 2021, Microsoft declared that they secured 5 years partnership with Telstra, the largest Australian company, to fuel Australia’s digital transformation. This partnership also aid Telstar in achieving its objective of running around 9% of its service on cloud infrastructure by 2025. Microsoft Azure is one of Telstra preferred cloud partner because of its multi cloud strategy
  • In May 2021, Ducati collaborated with SAP solution to make a possible business change which encompasses important business procedures. This collaboration aims to make an intelligent business network that increases the digitization of processes and improves the timeliness and quality of information.

Global Digital Transformation Market Scope

The digital transformation market is segmented on the basis of component, technology, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

  • Solution
  • Services
  • Deployment Model
  • On-Premise
  • Cloud

Technology

  • Industrial Robotics
  • Internet of Things
  • 3D Printing/Additive Manufacturing
  • Advanced Human Machine Interface
  • Big Data and Analytics
  • Machine Learning
  • Artificial Intelligence
  • Organization Size
  • Small and Medium Enterprises (SMEs)
  • Large Enterprises

End User

  • Banking Financial Services and Insurance (BFSI)
  • Healthcare
  • Telecommunication and IT
  • Automotive
  • Education
  • Retail and Consumer Goods
  • Media and Entertainment
  • Manufacturing
  • Government
  • Others

Digital Transformation Market Regional Analysis/Insights

The digital transformation market is analyzed and market size insights and trends are provided by country, component, technology, and end user as referenced above.

The countries covered in the digital transformation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Global (MEA) as a part of Global (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the digital transformation market in terms of revenue and market share. This is due to the growing usage of different types of online payment modes mainly in retail sector, increasing penetration of the internet, and strong availability of various digital transformation solution providers in this region.

Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 due to the increasing awareness regarding the profits of switching to the cloud with rapid growth in technological advancements  in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Digital Transformation Market Share Analysis

The digital transformation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to digital transformation market.

Some of the major players operating in the digital transformation market are:

  • Microsoft (U.S.)
  • IBM (U.S.)
  • SAP SE (Germany)
  • Oracle (U.S.)
  • Google  (U.S.)
  • Cognizant (U.S.)
  • Hewlett Packard Enterprise Development LP (U.S.)
  • Adobe (U.S.)
  • Accenture (Ireland)
  • HCL Technologies Limited (India)
  • Broadcom (U.S.)
  • Equinix, Inc. (U.S.)
  • Dell Inc., (U.S.)
  • TIBCO Software Inc. (U.S.)
  • Marlabs (U.S.)
  • Alcor Solutions, Inc. (U.S.)
  • SmartStream Technologies ltd. (U.K.)
  • Yash Technologies (U.S.)
  • Interfacing (Canada)
  • Kissflow, Inc. (India)
  • eMudhra (India)
  • Process Maker (U.S.)
  • Process Street (U.S.)
  • Happiest Minds (India)
  • Scoro Software  (U.K.)
  • Brillio (U.S.)
  • Aexonic Technologies (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The digital transformation market size will be worth USD 4339.82 billion by 2030.
The growth rate of the digital transformation market is 23.60% in the forecast by 2030
The advantages of digital transformation & rising demand for the latest and advanced technology are the growth drivers of the digital transformation market.
Component, technology, and end-user are the factors on which the digital transformation market research is based.
Major companies in the digital transformation market are Microsoft (U.S.), IBM (U.S.), SAP SE (Germany), Oracle (U.S.), Google (U.S.), Cognizant (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Adobe (U.S.), Accenture (Ireland), HCL Technologies Limited (India), Broadcom (U.S.), Equinix, Inc. (U.S.), Dell Inc., (U.S.), TIBCO Software Inc. (U.S.), Marlabs (U.S.), Alcor Solutions, Inc. (U.S.), SmartStream Technologies ltd. (U.K.), Yash Technologies (U.S.), Interfacing (Canada), Kissflow, Inc. (India), eMudhra (India), Process Maker (U.S.), Process Street (U.S.), Happiest Minds (India), Scoro Software (U.K.), Brillio (U.S.) and Aexonic Technologies (U.S.).
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