Digital Transformation Market to Exhibit a Remarkable Growth of USD 4339.82 billion by 2030, Size, Share, Trends, Key Drivers, Demand, Opportunities and Competitive Outlook
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
San Francisco, Dec. 23, 2022 (GLOBE NEWSWIRE) — Data Bridge Market Research completed a qualitative study titled “Digital Transformation Market” with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy to grasp full analysis. Digital Transformation market report supports the business to take better decisions for the successful future planning in terms of current and future trends in particular product or the industry. The Digital Transformation market report is an analytical assessment of the most important challenges that may arrive in the market with respect to sales, export/import, or revenue. This report helps clients to be acquainted with new opportunities in the Digital Transformation industry and most important customers for the business growth and increased revenue. What is more, this Digital Transformation market research report is a great source to gain current as well as upcoming technical and financial details of the industry to 2030.
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.
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Market Overview:
Digital transformation involves digital technology in 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.
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.
Fundamental Aim of Digital Transformation Market Report
In the Digital Transformation Industry, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.
- Factors influencing the Digital Transformation Size and growth rate.
- Major alterations to the Digital Transformation Market in the near future.
- Notable Market rivals around the world.
- The Digital Transformation Market’s Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
- Sales data and profiles of the world’s leading Digital Transformation manufacturers
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.
The Digital Transformation Market is Dominated by Firms Such as
- 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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The investment made in the study would provide you access to information such as:
- Digital Transformation Market [Global – Broken-down into regions]
- Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
- Country-wise Market Size Split [of important countries with major market share]
- Market Share and Revenue/Sales by leading players
- Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
- Market Size
- Market Size by application/industry verticals
- Market Projections/Forecast
Opportunities for Key Players:
- 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.
Key Market Segments Covered in Digital Transformation Industry Research
By Component
- Solution
- Services
- Deployment Model
- On-Premise
- Cloud
By Technology
- Internet of Things
- 3D Printing/Additive Manufacturing
- Advanced Human Machine Interface
- Big Data and Analytics
- Artificial Intelligence
- Organization Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By End User
- Healthcare
- Telecommunication and IT
- Automotive
- Education
- Retail and Consumer Goods
- Media and Entertainment
- Manufacturing
- Government
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Key Growth 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 for the 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 the internet of things, big data analytics, artificial intelligence, and cloud computing across numerous business enterprises is considerably driving the digital transformation market growth.
Digital Transformation Market Regional Analysis/Insights:
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.
This Market Intelligence Report Analyses Some of the Most Crucial Concerns:
- How will the major segments of this international market develop over the next few years?
- Who are the major players that will dominate the market in the future?
- When it comes to this industry, who are the top suppliers and producers?
- How have the most successful companies in the industry planned for future growth and expansion?
- In what sectors might we expect to see the greatest increase in demand over the coming years?
- How many distinct subsets of buyers make up this market?
- Which regional powerhouse do you foresee as becoming the largest player in the international market?
- Does a new coronavirus pandemic have any consequences?
- In what ways are established actors stymied by the entry of newcomers, and how may they be overcome?
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Digital Transformation Market: Regulations
- Market Overview
- Global Digital Transformation Market, By Component
- Global Digital Transformation Market, By Technology
- Global Digital Transformation Market, By End User
- Global Digital Transformation Market, By Distribution Channel
- Global Digital Transformation Market, By Region
- Global Digital Transformation Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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