Digital transformation market projected to Hit USD 7,646.17 billion at a 21.2% CAGR by 2030

 

Digital Transformation Market is anticipated to increase at a CAGR of  21.2% from the current projection period of 2030 to reach USD 7,646.17 billion. A few of the primary factors influencing business sector development include the rising use of mobile phones, rising IT investment by companies to convey computerised agreements, and the development of advanced communications and systems administration framework. The absence of a range of abilities needed to create and convey the advanced innovations and tough guidelines of the ICT area is a portion of the elements controlling the market. A portion of the utilization cases: Data Privacy and administration, IT change, and Governance, Risk and Compliance, among others.

The Prominent Players active in the Digital Transformation Market are IBM Corporation (US), Microsoft Corporation (US), SAP SE (Germany), Google (US), Dell EMC (US), Accenture Plc (Ireland), Cisco Systems, Inc. (US), Oracle Corporation (US), Tibco Software Inc (US), Hewlett Packard Enterprise (US), Cognizant (US), Marlabs (US), Equinix Inc. (US), CA Technologies (US), Rockwell Automation Inc. (US), Salesforce.com, Inc. (US) and HCL Technologies (India).

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Segmentation:

By Technology, the market has been segmented into cloud computing, big data & analytics, artificial intelligence (AI), internet of things (IoT), blockchain, and others. By deployment, the market has been segmented into on-premise and on-cloud. By organization size, the market has been segmented into small- and medium-sized enterprises and large enterprises. By vertical, the market has been categorized into BFSI, healthcare, IT and telecommunication, government, retail, education, and media & entertainment among others

By Deployment, the computerized change market has been portioned into on-premise and on-cloud.

By Organization Size, the advanced change market has been divided into little and medium-sized endeavors and huge ventures.

By Vertical, the computerized change market has been classified into BFSI, medical services, IT and telecom, government, retail, training, and media, and diversion, among others.

By Region, the advanced change market has been divided into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

Regional Analysis:

The digital transformation market is expected to reach USD 3,810.05 billion growing at a CAGR of 23.50% during the forecast period of 2030.The geographic analysis of the digital transformation market has been done for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Spain, Norway, Benelux, and Italy), Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines), Middle East and Africa (Saudi Arabia, Israel, Turkey, and South Africa) and South America (Brazil, Peru, Chile, and Argentina).

North America is currently dominating the global digital transformation market. The US followed by Canada is leading the market. Well-established infrastructure, developed economy, and availability of skilled experts in the US are some of the prime factors driving the digital transformation market in the country. Furthermore, BFSI, communications, retail, and government are the key markets in the US for digital transformation.

Europe is the second-highest contributor in terms of market share in the global digital transformation market. Enterprises across the UK, Germany, Spain, and Norway, among others, are witnessing significant adoption of digital technologies such as cloud computing, AI, and IoT in order to streamline their business operations and production facilities.

Asia-Pacific region is projected to grow at the fastest CAGR in the global digital transformation market. Growing adoption of cloud-based services and government initiatives supporting digitalization across countries has increased the demand for cloud-based and AI-enabled solutions. Furthermore, the growing number of SMEs across the region opting for cloud-based services is further contributing to the market growth.

Industry News:

• December 2019, KPMG and Microsoft consented to a five-year arrangement. As a feature of this understanding, KPMG will change its working environment with advanced arrangements given by Microsoft, for example, its 365 set-ups of cloud-based arrangements.

• In December 2019, Rockwell mechanization presented its first advanced change experience focus in Gurgaon, India. This middle is incorporated with key innovation stages for IT-OT intermingling and is good to go to give counseling administrations to its clients for innovation stages, for example, network online protection, modern server farm, AI, expanded reality and augmented reality.

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