- Cloud Computing
- Big Data and Analytics
- Mobility/Social Media
- Cyber security
Digital Transformation Market size valued at US$ 682.15 Billion in 2022 and expected to reach USD 1986.82 Billion by 2029, at a CAGR of 16.6% during the forecast period 2023-2029. The growth of the global market for digital transformation is mainly driven by factors such as ever-growing internet users & smart devices, rising technological advances, and digitization initiatives by the government. In addition, untapped opportunities to boost sales performance, customer demand to streamline business processes, and take advantage of consumer trends are also leading to the growth of the global market for digital transformation. However, the greatest hindrance to business growth is the high cost of change and the lack of infrastructure. The use of linked devices, as well as data-rich and analytics solutions, is driving the adoption of advanced technologies, such as the Internet of Things (IoT), Cyber security throughout corporations and enterprises. Furthermore, these solutions allow for the integration of digital intelligence into corporate operations and procedures, resulting in better and more successful customer engagements as well as operational optimization. The growing use of mobile devices, smartphones, and apps across business processes and departments is driving digitization and is likely to drive the market throughout the forecast period. Shifting from traditional to digital business models allows more advanced technological products and services to be introduced across businesses and sectors.
Digital Transformation Market Key Developments:
Fastest Growing Market
People now expect more personalized, linked encounters with the government in the modern world, which makes the task of digital transformation even more important. The use of digital government channels allows leaders to achieve established goals in line with the effectiveness of serving people. Digital payments (BHIM), AADHAAR and direct benefit transfer, e-education (SWAYAM), e-health, digital farming, and digitization of internal law enforcement agencies , for example, are government initiatives in India that facilitate digital transformation in the country, among others. In addition, by creating co-creation sites for access to more than 3,000 government datasets and launching more than 110 mobile applications for its people, the Singapore government is also undertaking initiatives. One of the main factors expected to drive the growth of the global digital transformation in the coming years is government inclination to adopt technologies & policies supporting digitization, especially in developing countries.
The key segments covered in the Digital Transformation Market are: By Technology, By Deployment model By Organization size, By Industry vertical
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.