According to the latest report by IMARC Group, titled “Digital Transformation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on digital transformation market size. The global digital transformation market reached a value of US$ 483.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,349.2 Billion by 2027, exhibiting a CAGR of 18.57% during 2022-2027. Digital transformation stands for the organizational, operational, and cultural change of an enterprise through digital technologies. It primarily relies on numerous advanced technologies, including artificial intelligence (AI), additive manufacturing, robotics, 3D printing, etc. Digital transformation is implemented through on-site or cloud software, digital experience platforms, hardware upgrades, etc. It assists in optimizing the processes and competencies of the organization by digitally streaming the operations and enhancing the reputation of the brand, customer experience, client retention ratios, etc. As a result, digital transformation finds numerous applications across several industries, such as banking, healthcare, information technology (IT), retail, transportation, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Informed covered in the report:
- Historical market data from 2016-2021
- CAGR of the market during the forecast period 2022-2027
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the digital transformation market size and its contribution to the parent market
- Upcoming market trends and changes in consumer behavior
- A thorough analysis of the market’s competitive landscape and detailed information on key players
- Comprehensive details of factors that will challenge the growth of smart meters market key players
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Digital Transformation Market Trends:
The growing digitalization and automation levels of various business processes are among the key factors driving the digital transformation market. In addition to this, the inflating adoption of digital transformation solutions by small, medium, and large-scale enterprises to respond to the consumers in real-time is further propelling the market growth. Moreover, the expanding usage of industrial robots and the introduction of Industry 5.0 trends for improving the efficiency of smart factory systems are acting as significant growth-inducing factors. Apart from this, continuous technological advancements, including the integration of connected devices with the Internet of Things (IoT) and cloud computing solutions, are also positively influencing the global market. Furthermore, the rising employment of wireless communication technologies and the extensive digital infrastructural developments, especially across developing economies, are expected to bolster the digital transformation market over the forecasted period.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Accenture PLC
- Adobe Inc.
- Capgemini SE
- 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
Breakup by Type:
Breakup by Deployment Mode:
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by End Use Industry:
- Manufacturing and Retail
- IT and Telecom
Breakup by Region:
- Middle East and Africa
- North America
- Latin America
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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