Advances in Digital Transformation Market : Understanding the Market and Its Potential
The latest research report by Emergen Research, named ‘Global Digital Transformation Market – Forecast to 2030 ’, entails a comprehensive review of the global Digital Transformation Market This comprehensive study provides various aspects of business such as important definition, end use and total revenue generated across various regions. Besides this, researchers behind this study put in vigilant and persistent effort to keep a proximate attention on top performers of Digital Transformation Market industry. Import and export, demand and supply, gross margin, supply chain management and distribution channel are the other aspects examined during the research.
The global digital transformation market size reached USD 492.43 Billion in 2021 and is expected to register a revenue CAGR of 20.8% during the forecast period, according to the latest analysis by Emergen Research. Increasing awareness among organizations to adopt digital technology is the key factor driving market revenue growth.The process of using digital technology to develop new or modify existing business processes, culture, and customer experiences to meet changing business and market requirements is known as digital transformation. Digital transformation is frequently fueled by customer expectations. Businesses must embrace digital transformation if they want to succeed. A lot of businesses think they need to change to keep up with the evolving market forces brought on by digitization. 56% of businesses intend to prioritize digital transformation by 2021. The purpose of digital transformation is to boost business growth, enhance customer experience, and generate new revenue streams. Companies typically adopt digital technology to improve efficiency, cut costs, or solve other business problems. A bank, for example, might use automated form-generation software to save time.
Major Leading Players IBM, SAP SE, Oracle, Microsoft Corporation, Accenture, Google LLC, HCL Technologies Limited, Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., Alibaba Cloud, Broadcom, Marlabs, Cognizant, and Capgemini.
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Some Key Highlights from the Report
- The cloud segment is expected to register a significantly fast revenue growth rate over the forecast period. Cloud Computing is a powerful technology that organizations can use to accelerate transformation plans as they recover to pre-COVID-19 levels. Cloud computing empowers organizations to collaborate with cloud service providers to provide intelligent digital solutions that are accessible, adaptable, and agile.
- The healthcare segment is expected to account for a significant revenue share over the forecast period. Digital transformation in healthcare can reduce paperwork, speed up patient exams, and make it simpler and more convenient to access accurate patient health data. In addition, The COVID-19 pandemic significantly altered the current system of the healthcare industry. Virtual health and home care became the model of not only a necessity but also a preference, which is boosting the revenue growth of this segment.
- Market in North America accounted for the largest revenue share in the global digital transformation market in 2021 due to the various initiatives being attempted by government bodies in the region to speed up the digital transformation process in countries across the region, especially in U.S. and Canada. A digital transformation initiative for 200 micro, small, and medium-sized businesses in the manufacturing, agricultural, and metalworking sectors was launched by the US government in April 2022, which is expected to boost the revenue growth of the market in this region.
Global Digital Transformation Market Segmentation by Type:
Emergen Research has segmented the global digital transformation market on the basis of component, deployment, organization size, end-use, and region:
· Component Outlook (Revenue, USD Billion; 2019-2030)
· Deployment Outlook (Revenue, USD Billion; 2019-2030)
· Organization Size Outlook (Revenue, USD Billion; 2019-2030)
- Large Enterprise
- Small & Medium Enterprise
· End-Use Outlook (Revenue, USD Billion; 2019-2030)
- IT & Telecom
- Media and Entertainment
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The global Digital Transformation Market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Digital Transformation Market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Elucidating the competitive landscape of the Global Digital Transformation Market :
The global Digital Transformation Market report offers viable insights into the competitive spectrum of the Digital Transformation Market business sphere.
The report systematically profiles the company information of each market player.
It identifies the estimated industry share, production facilities, development prospects, and geographies served by each market player.
The study showcases the extensive product portfolios of the prominent market contenders.
It offers critical data & information about the product application scope and the end-user landscape.
The study provides salient information about the pricing models of the products offered by these companies. Moreover, it determines the gross profits and losses experienced by them throughout their market tenures.
The Global Digital Transformation Market is formulated through extensive primary and secondary research, which is further validated and verified by industry experts and professionals. SWOT analysis and Porter’s Five Forces Analysis are used to examine and assess the market and its players. Moreover, the report also offers a feasibility study and investment return analysis to assist the readers in making strategic investment plans.
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