Digital Transformation solutions enabling companies to reach large masses to drive the adoption of digital transformation whose market is forecasted to grow at a CAGR of 24.3%Published Date: May 2018
According to a new market research study titled ‘Digital Transformation Market to 2025 – Global Analysis and Forecasts by Components, Deployment Type and End-User’, the global digital transformation market was valued at US$ 445.4 Bn in 2017 and is estimated to reach US$ 2,279.4 Bn by 2025. The report highlights the trends prevalent in the global digital transformation market and the factors driving the market along with those that act as deterrents to its growth.
One of the major reasons for high adoption of digital transformation is the fact that digital transformation is enabling companies to reach larger masses. With the adoption of digital solutions, organizations are being able to reach maximum number of end-users. This is due to rising adoption of smart devices including, tablets and smartphones globally, as well as increasing penetration of internet services. Over the past few years, there has been a significant growth in the number of smartphone and internet users, in the developing and emerging countries. This is attributed to the constantly decreasing prices of internet and smart devices as well as rising affordability of people in these countries.
Digital solutions has created a potential for companies to reach a huge mass of audience worldwide. For instance, Uber and Lyft, on-demand transportation companies, utilized digital platform and earned a huge success. These companies can be considered as a key illustration of how implementation of strategy and innovation, empowered by technology, can suddenly impact the development of the whole industry. Furthermore, in the fastest growing e-commerce market, more and more SMEs are now using online platform for providing their offerings to the customers. This has enabled them to extend their market reach, enhance external communication, augment sales, improve speed of processing, improve company image, as well as increase employee productivity.
The global digital transformation market has been segmented on the basis of component into solution and services. Solution segment is further segmented into mobility, big data & analytics, artificial intelligence, IoT, and others, and the services segment has been further classified into professional services and managed services. On the basis of deployment type, the market has been segmented into cloud and on-premise deployment. On the basis of end-user, the digital transformation market is categorized into BFSI, healthcare, education, retail, IT & telecom, logistics & transportation, manufacturing, and others. Geographically, the global digital transformation market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The key players profiled in the report are Accenture PLC, Adobe Systems Inc., Capgemini, Cognizant, IBM, Dell, Microsoft, Oracle, SAP SE, and Google.
The report segments the global Digital Transformation market as follows:
Global Digital Transformation Market – By Components
Big Data & Analytics
Global Digital Transformation Market – By Deployment Type
Global Digital Transformation Market – By End-User
IT & Telecom
Logistics & Transportation
Global Digital Transformation Market – By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SAM)
Rest of SAM