Digital technology is transforming the way organizations conduct business activities and interact with their customers. Growing integration of IoT technologies in business process is increasing the uptake of digital solutions and service across the globe. Also, increasing government spending on e-governance and introduction of digital initiatives in both developed and developing regions are expected boost growth of the digital transformation market over the forecast period. Further, implementation of mobility policies across enterprises is supporting the market growth. The global digital transformation market is projected to experience healthy CAGR of over 15% throughout the forecast period, 2021-2029. However, data privacy and security issue is likely to impede growth of the digital transformation market.
Report Scope
This report analyzes the global digital transformation market in terms of type, solution, service, deployment model, end-user, and geography. The global digital transformation market has been segmented based on type into solution and service. The solution segment is further sub-segmented into data analytics, customer relationship management (CRM), mobility, social media, and other solutions. Based on services, the market is bifurcated into consulting, implementation & integration, support service. The deployment model segment includes on-premise and cloud-based segments. On the basis of end-user, the global digital transformation market is segmented into BFSI, retail, public sector, healthcare, manufacturing, energy & utility, transportation, IT & telecom, and other end-users. The global digital transformation market covers major geographies such as North America, Europe, Asia Pacific, and Rest of World.
Increasing inclination of end-user organizations towards cloud computing technology and introduction of on-demand digital services have become emerging trends in the global digital transformation market. Also, acquisition and mergers to enter untapped market and enhance market footprint is one of the major strategies followed by prominent players.
1.1 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Global Digital Transformation Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global Digital Transformation market.
Target Audience
USP and Key Offerings
The report titled “Global Digital Transformation Market- Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global Digital Transformation market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on type, hardware, service, technology, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading digital transformation solution and service providers, their SCOT (Strength, Challenges, Opportunities, and Threats) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global digital transformation market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
On the basis of end-user, the global digital transformation Market is categorized into following segments:
As of 2020, the global digital transformation market was dominated by BFSI end-user segment. The segment accounted for over quarter of the overall digital transformation market revenue in the same year. Growing demand of net banking and mobile banking is encouraging banks to go digital and offer online banking services to customers in order to gain competitive advantage. The digital transformation market in healthcare sector is projected to expand at the highest CAGR during the forecast period, 2021 – 2029. Increasing uptake of mhealth solutions, remote patient monitoring solutions and clinical trial solutions is boosting the market growth in the sector.
On the basis of service, the global digital transformation market is categorized into following sub-segments:
As of 2020, the implementation and integration service was the largest sub-segment, accounting for over 50% market share. The consulting service sub-segment is expected to experience significant growth by the end of 2029. Developing a sound plan for enterprises to deploy digital transformation technologies require effective consulting services, thus, opening an opportunity window for major digital transformation consulting service providers.
On the basis of solution, the global digital transformation market is categorized into following sub-segments:
Among solutions, the social media solution is expected to be fastest growing sub-segment over the forecast period, 2021 – 2029. Increasing number of social media users across the globe is encouraging organizations to deploy social media related digital solutions to promote their offerings and interact with customers in real-time. The analytics sub-segment is expected to hold major share and witness healthy growth from 2021 to 2029 driven by growing volume of big data across enterprises. This data is being increasingly used in end-user verticals such as BFSI and retail sectors to understand customer buying or investment behavior and for predictive analytics.
In 2020, North America was the largest regional market, holding major chunk of the market revenue. Early adoption of digital technology among major end-user verticals such as BFSI and public sector is boosting growth of the digital transformation market in the region. Additionally, Asia Pacific is expected to emerge as an attractive market for digital solution and service providers by the end of 2029. The market in the region is projected to expand at the highest CAGR from 2021 to 2029. Spending on digital technologies by end-user organizations in emerging markets such as China and India is increasing at a significant pace. This is expected to support the market growth throughout the forecast period.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Digital Transformation market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
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Solution
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Service
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Deployment Model
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End-user
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
