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The global digital transformation market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 20% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Digital transformation refers to the organizational, operational and cultural change of an enterprise, industry or ecosystem through the integration of digital technologies. It involves the use of advanced technologies, such as robotics, 3D printing, artificial intelligence (AI) and additive manufacturing. Digital transformation is implemented through on-site or cloud software, hardware upgrades and digital experience platforms (DEP). These solutions aid in optimizing the process and competencies of the organization by digitally streaming the operations and improving the brand’s reputation, customer experience and client retention ratios. As a result, digital transformation finds extensive applications across various industries, including banking, financial services and insurance (BFSI), healthcare, information technology (IT), retail and transportation.
Digital Transformation Market Trends:
The global digital transformation market is primarily driven by rapid digitization and automation of various business processes. Small, medium and large-scale enterprises are increasingly adopting digital transformation solutions to gain a competitive edge and respond to the consumers in real-time. Moreover, widespread adoption of industrial robots and the advent of Industry 5.0 for enhancing the efficiency of smart factory systems is providing a thrust to the market growth. Additionally, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT) and cloud computing solutions, are acting as other growth-inducing factors. These connected and data-rich technologies are embedded into the business operations that facilitate the enterprise to take actionable steps for improved and effective customer engagements. Other factors, including the increasing utilization of wireless communication technologies, along with extensive infrastructural developments, especially in the developing economies, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global digital transformation market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on type, deployment mode, enterprise size and end use industry.
Breakup by Type:
Breakup by Deployment Mode:
Breakup by Enterprise Size:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Accenture PLC, Adobe Inc., Capgemini SE, Cognizant, Dell Technologies Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Company, International Business Machines Corporation, Marlabs Inc., Microsoft Corporation, Oracle Corporation, SAP SE, and Siemens AG.
|Base Year of the Analysis||2020|
|Segment Coverage||Type, Deployment Mode, Enterprise Size, End Use Industry, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Accenture PLC, Adobe Inc., Capgemini SE, Cognizant, Dell Technologies Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Company, International Business Machines Corporation, Marlabs Inc., Microsoft Corporation, Oracle Corporation, SAP SE, and Siemens AG.|
|Customization Scope||10% Free Customization|
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
We expect the global digital transformation market to exhibit a CAGR of around 20% during 2021-2026.
The extensive adoption of digital transformation across various industries, including BFSI, healthcare, information technology (IT), retail, transportation, etc., is currently driving the global digital transformation market.
The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of digital transformation in optimizing organization’s processes by digitally streaming their operations and improving brand’s reputation, customer experience and client retention rate.
Based on the type, the global digital transformation market has been segmented into solution and service. Currently, solution holds the majority of the total market share.
Based on the deployment mode, the global digital transformation market can be divided into cloud-based and on-premises, where on-premises currently exhibit a clear dominance in the market.
Based on the enterprise size, the global digital transformation market has been categorized into large enterprises and small and medium-sized enterprises. Currently, large enterprises account for the majority of the global market share.
Based on the end use industry, the global digital transformation market can be segmented into BFSI, manufacturing and retail, government, healthcare, IT and telecom, and others. Among these, the BFSI industry currently accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global digital transformation market include Accenture PLC, Adobe Inc., Capgemini SE, Cognizant, Dell Technologies Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Company, International Business Machines Corporation, Marlabs Inc., Microsoft Corporation, Oracle Corporation, SAP SE, and Siemens AG.
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