Digital transformation is the incorporation of computer-based technologies into products, processes, and strategies of an organization. Organizations undertake digital transformation to better engage and serve their workforce and customers and thus improve their ability to compete.
The key factors that drive the growth of the digital transformation market include rise in adoption of industrial robots and growth in usage of mobile devices and apps. The rise in the adoption of industrial robots is a pivotal growth factor for the digital transformation industry. Industrial robots, equipped with advanced sensors, AI, and connectivity capabilities, have revolutionized the manufacturing and industrial sectors. They play a crucial role in automating processes, enhancing efficiency, and enabling a broader digital transformation across various industries. In addition, increase in use of digital experience platforms (DXPs) to enhance the customer experience is considered a key factor in boosting the digital transformation market.
However, data privacy and security concerns associated with digital technologies are expected to hamper market growth. Data privacy and security concerns pose significant restraints on digital transformation initiatives. The migration of data and applications to the cloud introduces concerns about data security and control. Organizations must address these challenges to maintain data integrity and privacy. Contrarily, high usage of digital transformation in healthcare sector contributes significantly to the growth of the digital transformation market. Telemedicine and remote patient monitoring have gained significant traction, enabling healthcare providers to reach patients wherever they are. This transformation in care delivery requires advanced digital technologies and connectivity. Hence, these factors are expected to drive the growth of the digital transformation market in the coming years.
The report focuses on growth prospects, restraints, and trends of the digital transformation market analysis. The study provides Porter’s five forces analysis to understand the impact of numerous factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the digital transformation market.
The key factors that drive the growth of the digital transformation market include rise in adoption of industrial robots and growth in usage of mobile devices and apps. The rise in the adoption of industrial robots is a pivotal growth factor for the digital transformation industry. Industrial robots, equipped with advanced sensors, AI, and connectivity capabilities, have revolutionized the manufacturing and industrial sectors. They play a crucial role in automating processes, enhancing efficiency, and enabling a broader digital transformation across various industries. In addition, increase in use of digital experience platforms (DXPs) to enhance the customer experience is considered a key factor in boosting the digital transformation market.
However, data privacy and security concerns associated with digital technologies are expected to hamper market growth. Data privacy and security concerns pose significant restraints on digital transformation initiatives. The migration of data and applications to the cloud introduces concerns about data security and control. Organizations must address these challenges to maintain data integrity and privacy. Contrarily, high usage of digital transformation in healthcare sector contributes significantly to the growth of the digital transformation market. Telemedicine and remote patient monitoring have gained significant traction, enabling healthcare providers to reach patients wherever they are. This transformation in care delivery requires advanced digital technologies and connectivity. Hence, these factors are expected to drive the growth of the digital transformation market in the coming years.
The report focuses on growth prospects, restraints, and trends of the digital transformation market analysis. The study provides Porter’s five forces analysis to understand the impact of numerous factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the digital transformation market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the digital transformation market analysis from 2022 to 2032 to identify the prevailing digital transformation market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the digital transformation market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global digital transformation market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- End user preferences and pain points
- Product Benchmarking / Product specification and applications
- Product Life Cycles
- Technology Trend Analysis
- Go To Market Strategy
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
Key Market Segments
By Deployment Mode
- On-premise
- Cloud
By Component
- Solution
- Service
By Enterprise Size
- Large Enterprises
- SMEs
By Industry Vertical
- BFSI
- Retail and E-commerce
- IT and Telecom
- Healthcare and Lifesciences
- Government and Defense
- Others
By Technology
- Artificial Intelligence
- Cloud Computing
- Blockchain
- Big Data and Business Analytics
- Cybersecurity
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Google Inc.
- IBM Corporation
- HCL Technologies Limited
- Cognizant
- Accenture plc
- Oracle Corporation
- SAP SE
- Microsoft Corporation
- Adobe Systems Inc
- Hewlett Packard Enterprise Development LP
Please note:
- Online Access price format is valid for 60 days access. Printing is not enabled.
- PDF Single and Enterprise price formats enable printing.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DIGITAL TRANSFORMATION MARKET, BY COMPONENT
CHAPTER 5: DIGITAL TRANSFORMATION MARKET, BY DEPLOYMENT MODE
CHAPTER 6: DIGITAL TRANSFORMATION MARKET, BY ENTERPRISE SIZE
CHAPTER 7: DIGITAL TRANSFORMATION MARKET, BY TECHNOLOGY
CHAPTER 8: DIGITAL TRANSFORMATION MARKET, BY INDUSTRY VERTICAL
CHAPTER 9: DIGITAL TRANSFORMATION MARKET, BY REGION
CHAPTER 10: COMPETITIVE LANDSCAPE
CHAPTER 11: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the digital transformation market was valued at $721.60 billion in 2022, and is estimated to reach $6.78 trillion by 2032, growing at a CAGR of 25.4% from 2023 to 2032.The integration of computer-based technologies into the products, processes, and strategies of an organization is known as digital transformation. Organizations undertake this transformation in order to effectively engage and serve their workforce and customers, thereby enhancing their competitive capabilities.
One of the primary drivers of the digital transformation market is the increasing adoption of industrial robots and the growing usage of mobile devices and applications. The adoption of industrial robots is particularly significant, as they are equipped with advanced sensors, artificial intelligence, and connectivity capabilities, leading to a transformative impact on the manufacturing and industrial sectors. These robots play a crucial role in automating processes, improving efficiency, and enabling a more comprehensive digital transformation across diverse industries. Furthermore, the utilization of digital experience platforms (DXPs) to enhance the customer experience is a pivotal factor in boosting the digital transformation market.
However, data privacy and security concerns associated with digital technologies are expected to hamper market growth. Data privacy and security concerns pose significant restraints on digital transformation initiatives. The migration of data and applications to the cloud introduces concerns about data security and control. Organizations must address these challenges to maintain data integrity and privacy. Contrarily, high usage of digital transformation in healthcare sector contributes significantly to the growth of the digital transformation market. Telemedicine and remote patient monitoring have gained significant traction, enabling healthcare providers to reach patients wherever they are. This transformation in care delivery requires advanced digital technologies and connectivity. Hence, these factors are expected to drive the growth of the digital transformation market in the coming years.
The digital transformation market is segmented on the basis of component, deployment mode, enterprise size, technology, industry vertical, and region. On the basis of the component, the market is bifurcated into solution and services. By deployment mode, it is bifurcated into on-premise and cloud. By enterprise size, the market is bifurcated into large enterprise and small and medium-sized enterprises (SMEs). On the basis of technology, the digital transformation market is segmented in artificial intelligence, cloud computing, blockchain, big data and business analytics, cybersecurity and others. On the basis of industry vertical, it is categorized into IT and Telecom, BFSI, Healthcare and Life Sciences, Retail and E-Commerce, Government and Defense, and Others respectively. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
In Asia Pacific, there has been a significant rise in adoption of digital transformation services across industries. For instance, For instance, in August 2023, the Tamil Nadu government collaborated with the World Economic Forum, for establishing the ‘India Centre for Advanced Manufacturing’ in Chennai. It further highlighted three key focus areas for the Centre namely technology adoption and innovation, industry-academia engagement, and sustainable production. Similarly, in April 2023, the Japanese government raised $31.7 million (4.2 billion yen) toward developing shared quantum computing using a business-friendly cloud platform. These include accelerating the process of developing new drugs and materials, aiding self-driving cars in determining optimal routes, and providing advanced financial services. These initiatives are anticipated to contribute to the growth of digital transformation market in the region.
Some of the key players profiled in the report Accenture Plc, Adobe Systems Inc., Cognizant Technology Solutions Corporation, Google Inc, HCL Technologies Limited, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Oracle Corporation and SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the threat intelligence market. For instance, in May 2023, SAP partnered with Google Cloud, to introduce a comprehensive open data offering designed to simplify data landscapes and unleash the power of business data. Similarly, in April 2023, Qualcomm Technologies, Inc. launched new IoT solutions to enable the advancement of next-generation IoT devices. The new and improved solutions are designed to satisfy the requirements of demanding industrial and commercial IoT applications with a wide range of capabilities, innovative features, and adaptability.
Similarly, in September 2023, Parle collaborated with IBM, to drive digital transformation using cloud and AI. By deploying cloud and Artificial Intelligence (AI) for business solutions through the course of engagement, Parle has been able to reduce sourcing cost, enhance sales forecast accuracy, lower cost to serve and optimize overall IT infrastructure.
Key Market Insights
By component, solution segment led the Digital transformation market in terms of revenue in 2022.By technology, big data and business analytics segment accounted for the highest Digital transformation market share in 2022.
By deployment mode, on-premise segment accounted for the highest Digital transformation market share in 2022.
By enterprise size, large enterprise segment accounted for the highest Digital transformation market share in 2022.
By industry vertical, IT and telecom segment accounted for the highest Digital transformation market share in 2022.
By region, North America generated the highest revenue in 2022.
Companies Mentioned
- Google Inc.
- IBM Corporation
- HCL Technologies Limited
- Cognizant
- Accenture plc
- Oracle Corporation
- SAP SE
- Microsoft Corporation
- Adobe Systems Inc
- Hewlett Packard Enterprise Development LP
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
