30 November 2023

How Big is Digital Transformation Market ? :

IMARC Group’s latest report, titled “Digital Transformation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the digital transformation market demand . The report also includes competitor and regional analysis, and contemporary advancements in the market. the global digital transformation market size reached US$ 581 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,585 Billion by 2028, exhibiting a growth rate (CAGR) of 18.1% during 2023-2028.

What is the Digital Transformation ? :

Digital transformation has become increasingly vital in today’s business landscape as companies seek to stay competitive in a fast-changing environment. Digital transformation refers to leveraging digital technologies to fundamentally change how businesses operate, interact with customers, and deliver value. This involves adopting new technologies such as artificial intelligence, big data analytics, cloud computing, and the internet of things, as well as transforming business processes and organizational structures to support digital initiatives. By embracing digital technologies, companies can improve efficiency, agility, and innovation while enhancing customer experiences and unlocking new revenue streams.

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Digital Transformation Market Demand , Growth and Innovation:

The global market is majorly driven by the increasing adoption of digital technologies by businesses of all sizes. In line with this, heavy investments by companies in digital technologies and services to stay competitive and meet the changing needs of their customers are significantly contributing to market growth. Furthermore, the rising adoption of cutting-edge technologies such as cloud, big data analytics, and Artificial Intelligence (AI) is positively influencing the market.

Apart from this, the growing preference of consumers for cloud-based digital experience platforms is catalyzing the market. Moreover, the escalating focus of banking companies to provide excellent assistance and technical support to develop a customer-centric approach is propelling the market. Besides, the rapid adoption of industrial robots and heavy investments by the market players in cloud infrastructure, IoT, and 5G are favoring the market. Additionally, the leading digital transformation players are focusing on offering innovative digital technology-based solutions to expand their product portfolios and capture a greater share of the market.

Competitive Landscape with Key Players:

  • Accenture PLC
  • Adobe Inc
  • Capgemini SE
  • Cognizant
  • Dell Technologies Inc
  • Google LLC (Alphabet Inc.)
  • Hewlett Packard Enterprise Company
  • International Business Machines Corporation
  • Marlabs Inc
  • Microsoft Corporation
  • Oracle Corporation
  • SAP SE
  • Siemens AG

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Key Market Segmentation:

Breakup by Type:

  • Solution
    • Analytics
    • Cloud Computing
    • Mobility
    • Social Media
    • Others
  • Service
    • Professional Services
    • Integration and Implementation 

Breakup by Deployment Mode:

  • Cloud-based
  • On-premises 

Breakup by Enterprise Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises

Breakup by End-Use Industry:

  • BFSI
  • Manufacturing and Retail
  • Government
  • Healthcare
  • IT and Telecom
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report: 

  • Market Performance (2017-2022)
  • Market Outlook (2023-2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape 

About Us: 

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. 

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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