Digital Transformation Market Analysis by Solution (Analytics, Cloud Computing, Mobility, Social Media), By Service (Professional Services, Implementation & Integration), By Deployment (Hosted, On-premise), By Enterprise Size (Large Enterprise, Small & Medium Enterprise), By End-use (BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail) and by Region: Global Forecast, 2024 - 2034.
- PUBLISHED ON
- 2024-06-12
- NO OF PAGES
- 270
- CATEGORY
- Information Communication & Technology
Market Overview
The Digital Transformation market is
predicted to develop at a compound annual growth rate (CAGR) of 18.3% from 2024
to 2034, when it is projected to reach USD 14.41 Billion, based on an average
growth pattern. The market is estimated to reach a value of USD 2.68 Billion in
2024.
SOURCE: We Market Research
Digital
transformation is incorporating digital technology into all parts of an organisation,
significantly transforming how it runs and provides value. This includes using
new technologies such as AI and cloud computing, reengineering processes for
efficiency, improving customer experiences via digital channels, and
transitioning business models to digital-first methods. To embrace change and
agility, the organization's culture must also adjust. The goal is to increase
performance, establish a competitive edge, and better meet customer needs in a
digital world.
Rapid technology breakthroughs, such as artificial intelligence, cloud computing, and the Internet of Things, are driving the worldwide digital transformation industry, allowing firms to innovate and streamline operations. The growing desire for efficiency and personalised customer experiences drives businesses to utilise digital tools. Competitive pressure forces firms to change digitally in order to stay competitive, while the demand for data-driven decision-making accelerates adoption. Regulatory compliance also encourages digital changes to meet data protection standards. Furthermore, the rise of distant work needs digital collaboration solutions and infrastructure, which fuels the industry.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 2.68 Billion |
|
Market Forecast in 2034 |
USD 14.41 Billion |
|
CAGR % 2024-2034 |
18.3% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2034 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Solution, By Service, By Deployment, By Enterprise Size, By
End-use and By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
Digital Transformation Industry: Dynamics &
Restrains
Market opportunity:
We Market
Research: Digital Transformation
Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Digital Transformation Segmentation
Market- By Dosage Form Analysis
By Solution, the Digital Transformation Market is Categories into Analytics, Cloud Computing, Mobility, Social Media. The Cloud Computing segment accounts for the largest share of around 68% in 2024.
Cloud computing drives digital
transformation by offering scalable, cost-effective infrastructure and
services. It enhances flexibility, enables remote access, and supports
innovation through easy integration of new technologies, boosting efficiency
and agility in business operations.
The
following segments are part of an in-depth analysis of the global Digital
Transformation market:
|
Market Segments |
|
|
By Service |
·
Professional Services ·
Implementation &
Integration |
|
By Deployment |
·
Hosted ·
On-premise |
|
By Enterprise Size |
·
Large Enterprise ·
Small & Medium Enterprise |
|
By End-use |
·
BFSI ·
Government ·
Healthcare ·
IT & Telecom ·
Manufacturing ·
Retail |
Digital Transformation Industry: Regional Analysis
North America Market Forecast
North America dominate the Digital Transformation Market with the highest revenue generating market with share of more than 49%. North America, particularly the U.S. and Canada, is one of the largest markets for digital transformation due to high adoption rates of advanced technologies and robust IT infrastructure.
Europe Market Statistics
Europe's Digital
Transformation market is the second largest market. Europe's stringent data
protection regulations, such as the General Data Protection Regulation (GDPR),
drive organizations to invest in secure and compliant digital solutions. These
regulations compel businesses to adopt advanced digital technologies to ensure
data security and regulatory compliance.
Asia Pacific Market Forecasts
Asia Pacific is
expected to be the fastest-growing regional segment of the Digital
Transformation market during the forecast period. In the Asia Pacific region, the
rapid urbanization occurring in countries like China and India increases the
demand for digital solutions in infrastructure, transportation, and public
services. As cities expand, there is a growing need for advanced digital
technologies to manage and improve urban environments effectively.
Key Market Players
The Digital Transformation Market is dominated by a
few large companies, such as
·
Alphabet LLC
·
Amazon.com, Inc.
·
Microsoft Corporation
·
IBM Corporation
·
Apple Inc.
·
Salesforce Inc.
·
SAP SE
·
Cisco Systems, Inc.
·
Alibaba Group Holding Limited
·
Feuji Inc.
· Others
1.
Global
Digital Transformation Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Digital Transformation
Market Scope and Market Estimation
1.2.1.Global Digital Transformation Overall
Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2034)
1.2.2.Global Digital Transformation
Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1.Solution of Global Digital
Transformation Market
1.3.2.Service of Global Digital
Transformation Market
1.3.3.Deployment of Global Digital
Transformation Market
1.3.4.Enterprise Size of Global Digital
Transformation Market
1.3.5.End-use of Global Digital
Transformation Market
1.3.6.Region of Global Digital
Transformation Market
2.
Executive Summary
2.1. Market Dynamics
2.1.1.Drivers
2.1.2.Limitations
2.1.3.Opportunities
2.1.4.Impact Analysis of Drivers and
Restraints
2.2. Pricing Trends Analysis &
Average Selling Prices (ASPs)
2.3. Key Mergers & Acquisitions,
Expansions, JVs, Funding / VCs, etc.
2.4. Porter’s Five Forces Analysis
2.4.1.Bargaining Power of Suppliers
2.4.2.Bargaining Power of Buyers
2.4.3.Threat of Substitutes
2.4.4.Threat of New Entrants
2.4.5.Competitive Rivalry
2.5. Market Investment Opportunity
Analysis (Top Investment Pockets), By Segments & By Region
3.
Global Digital Transformation
Market Estimates & Historical Trend
Analysis (2019 - 2023)
4.
Global Digital Transformation
Market Estimates & Forecast Trend
Analysis, by Solution
4.1. Global Digital Transformation
Market Revenue (US$ Mn) Estimates and Forecasts, by Solution, 2019 to 2034
4.1.1.Analytics
4.1.2.Cloud Computing
4.1.3.Mobility
4.1.4.Social Media
5.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations. Market Research Process We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success. One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units). The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled. In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment. Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application. Business Solution An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services. Conclusion The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.Quality Assurance Process
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
Case Study- Automotive Sector
Solution
Market Estimates and Forecast
Case Study- ICT Sector
Frequently Asked Questions
What is the market size of Digital Transformation Market in 2024?
Digital Transformation Market was valued at USD 2.68 Billion in 2024.
What is the growth rate for the Digital Transformation Market?
Digital Transformation Market size will increase at approximate CAGR of 18.3% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the Digital Transformation Market Are Alphabet LLC, Amazon.com, Inc., Microsoft Corporation, IBM Corporation, Apple Inc., Salesforce Inc., SAP SE, Cisco Systems, Inc., Alibaba Group Holding Limited, Feuji Inc. and Others.
Which region dominates the Digital Transformation Market?
North America dominates the market with an active share of 49%.
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