Global Digital Transformation Market

 

Global Digital Transformation Market was valued US$ 296.68 Billion in 2019 and is expected to reach US$ XX Billion by 2027, at CAGR of 17.5 % over forecast period 2020- 2027.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Global Digital Transformation Market

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Why digital transformation is important?

Businesses don't transform by choice because it is expensive and risky. Businesses go through transformation when they have failed to evolve. Business may pull on digital transformation for various reasons. But certainly, the most appropriate reason is that they have to survive and grow in this huge market among the competitors. Digital transformation is necessary to create new or modify existing business processes, culture, and customer experiences to meet changing business and market requirements. It transcends traditional roles like sales, marketing, and customer service. Digital transformation begins and ends with how you think about, and engage with, customers. With digital transformation, companies are taking a step back and revisiting everything they do, from internal systems to customer interactions both online and in person.

Digital transformation is already underway, but is not proceeding at the same pace everywhere. Europe is currently operating at 12% of its digital potential, while the United States is operating at 18%. Within Europe, Germany operates at 10% of its digital potential, while the United Kingdom is almost on par with the United States at 17%. In APAC, China operates at 16% of its digital potential, while India operates at 12%.

How to improve the process of digital transformation?

To improve digital transformation process companies must have the right digital-savvy leaders in place for building capabilities for the workforce of the future. Companies should empower people to work in new ways by giving day-to-day digital upgrade. Communicating frequently via traditional and digital methods. By making cultural and behavioural changes such as calculated risk taking, increased collaboration, and customer centricity.

Global Digital Transformation Market Scenario:

Digital transformation is the linking of digital technology into all areas of a business resulting in basic changes to how operate business and how organization deliver value to customers. It involves absolute rethinking how to use updated technology to run towards new products, services, revenue streams and business models by organization to lead among competitors. Various businesses have introduced digital business, which is likely to tend digital transformation in the coming years. Furthermore, most of the leading organizations are taking efforts on to integrate updated digital initiatives in their businesses and create revenue from digital affairs.

Major factors driving the market includes, an increasing demand for the development of the Internet of Things (IoT) based products and data rich solutions by various business organization and industries, an outbreak of usage of mobile devices & applications. Moreover Increasing demand towards digitalization of organizational business functions to serve changing customer preferences and increase operational efficacy. In addition, growing adoption of cloud platforms, increasing projects like smart city, and usage of real time application all over the world are expected to drive the growth of global digital transformation market during forecast period.

On the other hand, increasing security and privacy concern between population, shortage of trained and skilled professionals and poor ICT infrastructure in the developing nations, are expected to suppress the growth of global digital transformation market over forecast period.

Global Digital Transformation Market Segmentation Analysis:

Global Digital Transformation Market is segmented by Solution, by Services, by Deployment Type, by Enterprise Size and by Region. By enterprise size, the small & medium enterprise segment held 55% market share in 2019 and is expected to keep its dominance over forecast period. The increasing awareness about the benefits of digitization has encouraged companies to invest significantly in order to expand and sustain their existing positions in a highly competitive market. Digital transformation supports SMEs in improving their brand’s reputation, customer experience, and customer retention ratios through the implementation of software’s and automations. Moreover, digitally transformed SMEs are able to adapt the evolving technological landscape and are able to tackle sudden shifts in the industry.

By deployment type, market is segmented into cloud deployment and on premises deployment. Among these, cloud deployment segment held near about 55-60% market share in 2019 and is expected keep its dominance over forecast period. Cloud deployment solution enables easy access to data and information from anywhere and anytime. It also involves pay per use, which is cost effective for an organization due to these benefits enterprises are adopting cloud deployment at large scale.

Global Digital Transformation Market Regional Analysis

By geography, Global Digital Transformation Market is segmented into North America, APAC, Europe, MEA& Africa and Latin America. The North America held highest market share in 2019 and is expected to keep its dominance over forecast period. Increasing investment in research & development for the introduction of new technologies is mainly driving market in this region. Digital transformation requires a very agile and flexible IT support, which is present in the majority of companies of this region. The region has a massive demand for robotics and software solutions, owing to high manufacturing, automotive and retail activity in US and Canada.

North America is followed by Europe. European countries such as Germany, Spain and U.K. 60% of the startups are digital startups, which are increasing the penetration of digital transformation solutions to small- and medium-sized players. According to, European Automotive Association, more than 75% of the vehicles manufactured in this region are destined for exports. Annually, automotive exports account for 20% of the total export trade. Such market scenario is forcing to various countries in the region to establish better policies to attract foreign investment. Such factors are expected to boost the digital transformation market in this region.

Asia Pacific market is expected to grow at highest CAGR over forecast period, owing to increasing acceptance of digital transformation from small & medium sized companies, and increasing awareness about advantage of cloud merging with swift advance technology.

Global Digital Transformation Market Competitive Landscape:

The Global Digital Transformation Market has the presence of a large number of players. Major players in the market are concentrating on developing new technologies to facilitate the industry with lowest time and low expenditure consuming technologies. In the recent years there are many discoveries in the field of technologies such as quantum computing, AI, Block-chain etc. with regards to digital transformation, which in turn will help the industry to grow resulting in boost to the competition too.

The report covers the market leaders, potential players, followers and new entrants in the market. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies such as strategic alliances, supply chain agreement and mergers & acquisition activities and patents.

The objective of the report is to present a comprehensive analysis of Global Digital Transformation Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Digital Transformation Market dynamics, structure by analyzing the market segments and project the Global Digital Transformation Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Digital Transformation Market make the report investor’s guide.

Global Digital Transformation Market, Key Highlights:

• Global Digital Transformation Market analysis and forecast, in terms of value.

• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Digital Transformation Market

• Global Digital Transformation Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

• Global Digital Transformation Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

• Global Digital Transformation Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Digital Transformation Market are also profiled.

Scope of Global Digital Transformation Market: Inquire before buying

Global Digital Transformation Market, by Solution

• Cloud Computing

• IoT

• Big Data

• Mobility

• Social Media

• Artificial Intelligence

• Cyber security

• AR/VR

• Robotic Process Automation

• Others

Global Digital Transformation Market, by Services

• Training

• Maintenance

• Consulting

Global Digital Transformation Market, by Deployment Type

• On-Premises

• Cloud

Global Digital Transformation Market, by Enterprise Size:

• Large Enterprise

• SMEs

Global Digital Transformation Market, by Vertical:

• BFSI

• Telecom & IT

• Automotive

• Education

• Retail & Consumer Goods

• Media & Entertainment

• Manufacturing

• Government

• Aviation & Defense

• Transportation

• Other

Global Digital Transformation Market, by Geography

• North America

• Europe

• Asia Pacific

• Middle East & Africa

• Latin America

Global Digital Transformation Market Key Players

• Google

• Oracle

• Microsoft

• IBM

• Cognizant

• Dell EMC

• Adobe Systems Inc.

• Accenture

• Atos Origin

• Hewlett-Peckard

• MSG Systems

• Capgemini

• SAP SE

• CA Technologies

• Kellton Tech Solutions Ltd

• iOLAP

• Telstra Global

• Fujitsu Global

• Philips

• Itizzimo

• Softstone

• Stratford Managers Corporation

• TCS

• Infosys

• Infogain

• L&T Infotech

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This Report Is Submitted By : Maximize Market Research Company

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