In 2022, The Digital Transformation Market Size was estimated to be worth USD 1.91 trillion. The market size is anticipated to increase by 21.6% annually between 2023 and 2030, from USD 2.27 trillion to USD 8.92 trillion.
Players in the digital transformation space like Alphabet LLC, Oracle Corporation, SAP SE, Salesforce, Inc., and others are taken into account. These market players provide a variety of products and services, including a variety of hardware and software, including artificial intelligence (AI), cloud computing, machine learning, the Internet of Things, and others. The integration of cutting-edge digital technologies into business processes that provide value to their customers, such as cloud computing and artificial intelligence, is referred to as digital transformation.
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Information about the report:
- Forecast Timeframe:2023-2030
- The starting year is 2022
- Market Size in 2022: USD 1.91 trillion
- The market size in 2030 will be USD 8.92 trillion
- CAGR: 21.6%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
The Digital Transformation Market is a large and growing sector that covers various aspects, such as market size, market share, market segment, and industry. The Digital Transformation Market size is the total amount of money service providers make when selling their products to customers. Digital Transformation Market share is the percentage of the market that is under the control of one or more providers. The term Digital Transformation Market segment refers to the different categories of applications based on their functions, features, or target users. The term industry refers to the various sectors or domains that use applications for their business operations or activities.
Analyses of the worldwide Digital Transformation Market are conducted across regions, end-user industries, and material types. The study thoroughly examines segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
By Technology Type Analysis,
Based on technology, the market is divided into categories such as cloud computing, Big Data and analytics, cybersecurity, Artificial Intelligence (AI), Internet of Things (IoT), business intelligence, and blockchain.
The market for cloud-based digital transformation is anticipated to grow as IoT device adoption rises and data volume production soars. IoT devic By 2022, the number of installed IoT devices, sensors, and actuators is predicted to reach 42.62 billion by the International Energy Agency (IEA). According to the International Energy Agency (IEA), there will be 42.62 billion installed IoT devices, sensors, and actuators by 2022. By 2025, a significant increase over the projected values for 2021 and 2020—35.82 billion and 30.73 billion, respectively—is anticipated, reaching 75.44 billion.
By Enterprise Type Analysis,
The market is divided into large enterprises and Small & Medium Enterprises (SMEs) based on the type of enterprise.
The segment of large businesses is anticipated to hold the largest share of the global market. This is primarily due to increased digitization and the adoption of cutting-edge technologies like cloud computing, AI, and IoT by big businesses. 43% of businesses have digitized their operations and adopted cloud computing services, according to the European Communication Organization. Large organizations have the financial resources to invest in cutting-edge technology.
By Deployment Analysis,
Based on deployment, the market is split into on-premise and cloud segments.
In 2021, the on-premises market segment dominated the entire world. Initially, businesses all over the world preferred on-premise deployment for digital solutions due to its security and customization capabilities.
By Industry Analysis,
The market is divided into IT and telecommunications, BFSI, retail and consumer goods, transportation and logistics, government, healthcare, and other (oil and gas, media, and entertainment) sectors based on industry.
List of Key Companies Profiled:
Oracle Corporation, Microsoft Corporation, Hewlett Packard Enterprise Development LP, Amazon.com, Inc., and other major players in the digital transformation are concentrating on providing cutting-edge solutions based on digital technology. Due to growing consumer demand, these players intend to increase the variety of their products. Major market players are utilizing a variety of business methods, including alliances, mergers, and collaborations, to grow their enterprises internationally. For example,
List of Key Companies Proposed:
“Alphabet LLC (U.S.), Amazon.com, Inc. (U.S.), Microsoft Corporation (U.S.), IBM Corporation (U.S.), Apple Inc. (U.S.), Salesforce Inc. (U.S.), SAP SE (Germany), Cisco Systems, Inc. (U.S.), Alibaba Group Holding Limited (China), Feuji Inc. (U.S.)”
By Region,
The five regions that make up the global market scope are North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Due to growing government programs and investments in digital technologies like cloud computing, IoT, AI, and others, North America is predicted to have a disproportionately large share of the worldwide market for digital transformation. The Canadian government introduced digital government policies in 2021 with the goal of coordinating the deployment of digital technologies like cloud computing and artificial intelligence (AI) for the modernization of IT systems.
The study report provides a thorough analysis of the “Digital Transformation Market” size globally, including regional and country-level market size analysis, CAGR estimation of market growth during the forecast period, revenue, key drivers, competitive background, and sales analysis of the payers. The paper also discusses the principal risks and challenges that will be encountered over the projected period. The Digital Transformation Market is divided into two categories: type and application. Players, stakeholders, and other participants in the global Digital Transformation Market industry will be able to gain the upper hand by using the study as a valuable resource.
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