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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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