Digital Transformation Market

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Digital Transformation Market Research Report – Segmentation By Solution (Cloud Computing, Big Data, Mobility, And Social Media), Services (Training, Maintenance and Advice), Enterprise Size (Small And Medium-Sized Enterprises (SMEs) and Large Companies), End-User (BFSI, Telecommunications, Healthcare, Utilities, Retail, Automotive, ICT, and others), and Region - Forecast to 2027

Published: January, 2022

ID: 8301

Pages: 170

Digital Transformation Market Size (2022 - 2027)

The global digital transformation market will grow from US $410 billion in 2020 to US $784.00 billion in 2026, at a CAGR of 18.1% during the forecast period.

Digital transformation can be identified as the application of digital techniques like cloud computing, big data, and so on to increase business performance. The need to grow the business, improve operating expenses and business efficiency, and track business activities in real-time is pushing businesses to participate in the digital transformation.

Digital transformation assists companies to limit overall risks and manage disruptions, such as fluctuations, restructuring, and the unexpected geopolitical situations that can result in unpredictable outcomes. In addition, the shift from traditional business models to new digital models facilitates the introduction of more technologically advanced products and services. This has the potential to modernize and assimilate all business functions to enhance the efficiency of the business. It helps organizations streamline operations to save time, effort, and money by replacing traditional processes with automation, thereby reducing user error rates.

Market growth and trends:

Automotive Expected to Have Significant Growth

The automotive industry is one of the largest and first to adopt digitization strategies to increase its productivity. Developments like Industry 4.0 have recently increased the automotive industry's investment in digitization, with a specific demand for smart manufacturing and solution design.
In 2018, it is estimated that only a third of automotive companies worldwide have the digital capabilities necessary for digital transformation. During the forecast period, this scenario should open up significant opportunities for digital transformation in the automotive industry.
With the introduction of electric cars and advanced driver assistance systems (ADAS), artificial intelligence and automation solutions find applications in the automotive sector. During the anticipated time, the automotive sector is likely to become a significant contributor to IT services.

Market Drivers and Restraints:

Digital transformation is helping organizations improve their brand reputation, customer experience, and customer retention rates through the deployment of software. This software helps organizations to educate and train their internal teams on various aspects of their organizations. In addition, digitally transformed organizations can adapt to the changing technological landscape and cope with sudden changes in the industry. Businesses in this sector are developing robust infrastructure due to the surge in the call, and the implementation of novel technologies and solutions is rising, supplementing the market growth. Due to the rising competition in these sectors, funding in technology is augmented to garner a competitive advantage in the business.

The augmenting penetration of IoT-based products in daily life, rising penetration of mobile devices, and increased dependence on IoT-based products promote the growth in the global digital transformation market. However, factors such as an ICT infrastructure in underdeveloped and developing countries and high threats to data security are hampering the market growth. Also, the rising dependence of the BFSI, retail, and automotive sectors on IoT-based products and solutions is likely to offer promising opportunities for the business. Due to the combination of AI, machine learning, and the deployment of IoT and connected infrastructure, the global market is anticipated to multiply over the calculated period. The primary driver of the digital transformation market is the surge in demand for automation in industries. Automation also entails the integration of several mechanical systems with information technology. The adoption of wireless communication is booming, and the penetration of this technology will develop in the future, resulting in the rate of digital transformation.

DIGITAL TRANSFORMATION MARKET REPORT COVERAGE:

REPORT METRIC	DETAILS
Market Size Available	2020– 2026
Base Year	2020
Forecast Period	2022 - 2027
CAGR	18.1%
Segments Covered	By Solution, Service, Enterprise Size, End User, and Region
Various Analyses Covered	Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
Regions Covered	North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled	SAP SE,IBM Corporation,Oracle Corporation,Google Inc,Dell EMC,Hewlett Packard Enterprise Co,CA Technologies,Microsoft Corporation,Adobe Systems Incorporated,Accenture PLC,Capgemini Group,Apple Inc,Kellton Tech Solutions Ltd., and Others.

Digital Transformation Market Segmentation Analysis

Digital Transformation Market - By Solution:

Cloud Computing
Big Data
Mobility
Social Media

Digital Transformation Market - By Services:

Training
Maintenance
Advice

Digital Transformation Market - Enterprise Size:

Small and Medium Sized Enterprises (SMEs)
Large Companies

Digital Transformation Market - End-User:

BFSI
Telecomminications
Healthcare
Utilities
Retail
Automotive
ICT

Regional Analysis:

Digital Transformation Market - By Region:

the global market is studied into:

North America
Europe
Asia-Pacific
LATAM
MEA

North America is at the forefront of business development across the world, followed by Europe. The Asia Pacific is estimated to record notable CAGR in the coming years due to the rising investments in the digital transformations.

Key players in the market

SAP SE
IBM Corporation
Oracle Corporation
Google Inc.
Dell EMC
Hewlett Packard Enterprise Co.
CA Technologies
Microsoft Corporation
Adobe Systems Incorporated
Accenture PLC
Capgemini Group
Apple Inc.
Kellton Tech Solutions Ltd., among others.

We observe that industry players invest massively in research and development activities to increase their market share and guarantee the organic growth of their companies. Furthermore, these players actively participate in the development of new products to improve and expand their existing product and service portfolios, thus offering these companies the possibility of acquiring new customers and validating the technology.

Recent developments:

In February 2019, IBM signed a deal with COFCO International (CIL), a China-based agrifood company, where SAP will combine and digitally transform CIL business processes through the implementation of a new SAP platform, which includes SAP S/4 HANA, SAP Ariba, SAP Success Factors and SAP Master Data Governance. IBM services will aid CIL to transform its operations into a digital form to simplify the existing processes and assimilate its functions.
Microsoft partnered with Telecom Egypt in February 2019 to expand its current global cloud network even to Egypt. Telecom Egypt will provide low-latency connectivity across Egypt to improve performance and increase the reliability of Microsoft service customers. This network partnership is touted to improve Microsoft service delivery in the Middle East, Egypt, and North Africa.
In February 2019, SAP launched SAP Leonardo Internet of Things (IoT), the complete technology that generates and stimulates digital transformation for industrial IoT and Industry 4.0. Besides, SAP also confirmed cloud-to-cloud interoperability of Microsoft Azure IoT Hub and SAP Leonardo IoT, delivering customers a choice of connectivity and device management.

1. Introduction

1.1 Market Definition

1.2 Scope of the report

1.3 Study Assumptions

1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology

2.1 Analysis Design

2.2 Research Phases

2.2.1 Secondary Research

2.2.2 Primary Research

2.2.3 Data Modelling

2.2.4 Expert Validation

2.3 Study Timeline

3. Report Overview

3.1 Executive Summary

3.2 Key Inferencees

4. Market Dynamics

4.1 Impact Analysis

4.1.1 Drivers

4.1.2 Restaints

4.1.3 Opportunities

4.2 Regulatory Environment

4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis

5.1 Key Player Benchmarking

5.1.1 Market share analysis

5.1.2 Products/Service

5.1.3 Regional Presence

5.2 Mergers & Acquistion Landscape

5.3 Joint Ventures & Collaborations

6. Market Segmentation

6.1 Digital Transformation Market, By Solution

6.1.1 Cloud Computing

6.1.2 Big Data

6.1.3 Mobility

6.1.4 Social Media

6.1.5 Market Size Estimations & Forecasts (2022 - 2027)

6.1.6 Y-o-Y Growth Rate Analysis

6.1.7 Market Attractiveness Index

6.2 Digital Transformation Market, By Services

6.2.1 Training

6.2.2 Maintenance

6.2.3 Advice

6.2.4 Market Size Estimations & Forecasts (2022 - 2027)

6.2.5 Y-o-Y Growth Rate Analysis

6.2.6 Market Attractiveness Index

6.3 Digital Transformation Market, By Enterprise Size

6.3.1 Small And Medium-Sized Enterprises (SMEs)

6.3.2 Large Companies

6.3.3 Market Size Estimations & Forecasts (2022 - 2027)

6.3.4 Y-o-Y Growth Rate Analysis

6.3.5 Market Attractiveness Index

6.4 Digital Transformation Market, By End-User

6.4.1 BFSI

6.4.2 Telecommunications

6.4.3 Healthcare

6.4.4 Utilities

6.4.5 Retail

6.4.6 Automotive

6.4.7 ICT

6.4.8 Market Size Estimations & Forecasts (2022 - 2027)

6.4.9 Y-o-Y Growth Rate Analysis

6.4.10 Market Attractiveness Index

7. Geographical Landscape

7.1 Global Identity Governance and Administration Market, by Region

7.2 North America - Market Analysis (2022 - 2027)

7.2.1 By Country

7.2.1.1 USA

7.2.1.2 Canada

7.2.2 By Solution

7.2.3 By Services

7.2.4 By Enterprise Size

7.2.5 By End-User

7.3 Europe

7.3.1 By Country

7.3.1.1 UK

7.3.1.2 France

7.3.1.3 Germany

7.3.1.4 Spain

7.3.1.5 Italy

7.3.1.6 Rest of Europe

7.3.2 By Solution

7.3.3 By Services

7.3.4 By Enterprise Size

7.3.5 By End-User

7.4 Asia Pacific

7.4.1 By Country

7.4.1.1 China

7.4.1.2 India

7.4.1.3 Japan

7.4.1.4 South Korea

7.4.1.5 South East Asia

7.4.1.6 Australia & NZ

7.4.1.7 Rest of Asia-Pacific

7.4.2 By Solution

7.4.3 By Services

7.4.4 By Enterprise Size

7.4.5 By End-User

7.5 Latin America

7.5.1 By Country

7.5.1.1 Brazil

7.5.1.2 Argentina

7.5.1.3 Mexico

7.5.1.4 Rest of Latin America

7.5.2 By Solution

7.5.3 By Services

7.5.4 By Enterprise Size

7.5.5 By End-User

7.6 Middle East and Africa

7.6.1 By Country

7.6.1.1 Middle East

7.6.1.2 Africa

7.6.2 By Solution

7.6.3 By Services

7.6.4 By Enterprise Size

7.6.5 By End-User

8. Key Player Analysis

8.1 SAP SE

8.1.1 Business Description

8.1.2 Products/Service

8.1.3 Financials

8.1.4 SWOT Analysis

8.1.5 Recent Developments

8.1.6 Analyst Overview

8.2 IBM Corporation

8.3 Oracle Corporation

8.4 Google Inc

8.5 Dell

8.6 Hewlett Packard Enterprise Co

8.7 CA Technologies

8.8 Microsoft Corporation

8.9 Adobe Systems Inc

8.10 Accenture PLC

9. Market Outlook & Investment Opportunities

Appendix

List of Tables

List of Figures

Global Digital Transformation Market By Region, From 2022 - 2027 ( USD Billion )
Global Digital Transformation Market By Solution, From 2022 - 2027 ( USD Billion )
Global Cloud Computing Market By Region, From 2022 - 2027 ( USD Billion )
Global Big Data Market By Region, From 2022 - 2027 ( USD Billion )
Global Mobility Market By Region, From 2022 - 2027 ( USD Billion )
Global Social Media Market By Region, From 2022 - 2027 ( USD Billion )
Global Digital Transformation Market By Services, From 2022 - 2027 ( USD Billion )
Global Training Market By Region, From 2022 - 2027 ( USD Billion )
Global Maintenance Market By Region, From 2022 - 2027 ( USD Billion )
Global Advice Market By Region, From 2022 - 2027 ( USD Billion )
Global Digital Transformation Market By Enterprise Size, From 2022 - 2027 ( USD Billion )
Global Small And Medium-Sized Enterprises (SMEs) Market By Region, From 2022 - 2027 ( USD Billion )
Global Large Companies Market By Region, From 2022 - 2027 ( USD Billion )
Global Digital Transformation Market By End-User, From 2022 - 2027 ( USD Billion )
Global BFSI Market By Region, From 2022 - 2027 ( USD Billion )
Global Telecommunications Market By Region, From 2022 - 2027 ( USD Billion )
Global Healthcare Market By Region, From 2022 - 2027 ( USD Billion )
Global Utilities Market By Region, From 2022 - 2027 ( USD Billion )
Global Retail Market By Region, From 2022 - 2027 ( USD Billion )
Global Automotive Market By Region, From 2022 - 2027 ( USD Billion )
Global ICT Market By Region, From 2022 - 2027 ( USD Billion )

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FAQ's

What segments covered in this report?

Segmentations analysed in this report are - Solution, Services, Enterprise Size, End-User, and Region.

Which region holds the largest market share globally?

According to our analysis, North America holds the largest market share globally. Whereas, APAC is the fastest growing region.

What are the regions covered in the Digital Transformation Market report?

Regions covered in this market report are North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Who are the key players in the Digital Transformation Market?

SAP SE, IBM Corporation, Oracle Corporation, Google Inc., Dell EMC, Hewlett Packard Enterprise Co., CA Technologies, Microsoft Corporation, Adobe Systems Incorporated, Accenture PLC, Capgemini Group, Apple Inc. and Kellton Tech Solutions Ltd., among others

How big is the Digital Transformation Market?

The global digital transformation market will grow from US $410 billion in 2020 to US $784.00 billion in 2026, at a CAGR of 18.1% during the forecast period.