Market Overview
The Digital Transformation Market was valued at USD 250.65 billion in 2018 and is predicted to reach USD 817.05 billion by 2025, increasing at a CAGR of 18.87 per cent between 2019 and 2025. Some of the important drivers driving market expansion include the increasing number of mobile devices, increased IT investment by businesses to install digital solutions, and the development of enhanced communication and networking infrastructure. However, the lack of skill sets required to develop and deploy digital technologies, as well as severe ICT sector regulations, are some of the factors constraining the market.
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Regional Classification
In the geographical analysis of the digital transformation market, Market Research Future (MRFR) studied the following countries in North America: The United States, Canada, and Mexico. Europe includes Germany, the United Kingdom, France, Spain, Norway, Benelux, and Italy. Asia-Pacific countries include China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines. In the Middle East and Africa, Saudi Arabia, Israel, Turkey, and South Africa are the most important countries. South America includes Brazil, Peru, Chile, and Argentina.
North America now dominates the global digital transformation market. The region was an early adopter of technology and is home to the majority of the market's key enterprises. The United States has the largest market share of any country, owing to factors such as highly qualified knowledge and research and development skills aimed at providing solutions and services, among others.
In terms of market share in the global digital transformation market, Europe is trailing North America. Some of the factors driving market growth include the growing acceptance of internet services, the expansion of Industry 4.0, and the extensive use of mobile devices in the workplace. Asia-Pacific is predicted to be the fastest region during the projection period. Government actions to boost digitization and increased company usage of cloud platforms are projected to increase demand for digital transformation in the region.
Market Segmentation
The Global Digital Transformation Market has been divided into several segments, including Technology, Deployment, Organization Size, Vertical, and Region.
The digital transformation market has been classified according to technology into cloud computing, big data analytics, artificial intelligence (AI), internet of things (IoT), blockchain, and others.
The digital transformation market has been segmented by vertical, including BFSI, healthcare, IT and telecommunications, government, retail, education, and media entertainment.
The digital transformation market has been classified into five regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
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Industry News
The industry has also been examined, as have the profiles of the key players, which include Accenture PLC, Adobe Inc., Capgemini SE, Cognizant, Dell Technologies Inc., Google LLC (Alphabet Inc.), Hewlett Packard Enterprise Company, International Business Machines Corporation, Marlabs Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, and Siemens AG.
The global digital transformation market may be divided into BFSI, manufacturing and retail, government, healthcare, IT and telecom, and others based on the end-use industry.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.
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