The global digital transformation market is expected to exhibit strong growth, reaching USD 2038.9 billion by 2028. As per the report titled "Digital transformation Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions and Services), By Technologies (Cloud Computing, Big Data & Analytics, Mobility & Social Media Management, Cyber Security, AI, and IoT), By Deployment Type (Cloud and On-premises), By Organization Size (Large Enterprises and SMEs), By Business Function (Finance, Information Technology, Human Resources, and Marketing & Sales), By Vertical (BFSI, Retail & eCommerce, IT/ITES, Healthcare, Life Sciences & Pharmaceuticals, Government & Defense, Manufacturing, Energy & Utilities and Telecommunications) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 594.6 billion and USD 2038.9 billion in 2028. The market is expected to exhibit a CAGR of 22.80% during the forecast period.
Ducati Collaborated with SAP Solution to Make a Potential Business Change that Includes Critical Business Procedures
In May 2021, to create a potential business transformation that includes crucial business processes, Ducati worked with SAP solution. This collaboration aims to create an intelligent business network that enhances information quality and timeliness while further digitizing corporate processes.
Rising Industrial Robot Adoption to Drive Market Growth
Given that industrial robots perform several vital tasks for businesses, it is anticipated that they will play a crucial part in these systems. Manufacturers use robots of all kinds to carry out monotonous tasks, expanding the market. The most recent innovation on the market is the adoption of recent technologies, such as industrial robots, SCARA robots, and AI-based robotics. They have aided the robotics industry in streamlining numerous procedures, increasing productivity, and minimizing errors. Companies are investing more in robotic systems due to rising manufacturing capabilities and improved workplace safety. Therefore, an important market trend in the global market will be industrial robotic technology.
Ownership and Confidentiality of Data Gathered May Limit the Market Growth
Market competition has regularly risen due to the advent and development of new technologies like big data, machine learning, and others. Because of these technologies, there are a lot more endpoints collecting data, which means there is more dynamic data that is constantly changing. Any company that analyses data sets to predict customer behavior must respect the privacy of its customers. The confidentiality of collected data and concerns over data ownership pose potential risks to people's identities. Businesses are therefore required to abide by some limitations on the kinds, quantities, and methods of data collection. These limitations may vary from nation to nation throughout the world.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the digital transformation market plan acquisitions to improve their brand recognition globally. For instance, in June 2022, Tanla, a CPaaS provider, and Kore.ai, a provider of enterprise conversational AI software platforms and solutions, announced their partnership in five nations, including India, the UAE, Indonesia, Vietnam, and the Philippines. This partnership is a crucial first step in providing various businesses and brands with best-in-class conversational AI-based Natural Language Processing (NLP) systems.
Notable Industry Development
Ducati Collaborated with SAP Solution to Make a Potential Business Change that Includes Critical Business Procedures
In May 2021, to create a potential business transformation that includes crucial business processes, Ducati worked with SAP solution. This collaboration aims to create an intelligent business network that enhances information quality and timeliness while further digitizing corporate processes.
Rising Industrial Robot Adoption to Drive Market Growth
Given that industrial robots perform several vital tasks for businesses, it is anticipated that they will play a crucial part in these systems. Manufacturers use robots of all kinds to carry out monotonous tasks, expanding the market. The most recent innovation on the market is the adoption of recent technologies, such as industrial robots, SCARA robots, and AI-based robotics. They have aided the robotics industry in streamlining numerous procedures, increasing productivity, and minimizing errors. Companies are investing more in robotic systems due to rising manufacturing capabilities and improved workplace safety. Therefore, an important market trend in the global market will be industrial robotic technology.
Ownership and Confidentiality of Data Gathered May Limit the Market Growth
Market competition has regularly risen due to the advent and development of new technologies like big data, machine learning, and others. Because of these technologies, there are a lot more endpoints collecting data, which means there is more dynamic data that is constantly changing. Any company that analyses data sets to predict customer behavior must respect the privacy of its customers. The confidentiality of collected data and concerns over data ownership pose potential risks to people's identities. Businesses are therefore required to abide by some limitations on the kinds, quantities, and methods of data collection. These limitations may vary from nation to nation throughout the world.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the digital transformation market plan acquisitions to improve their brand recognition globally. For instance, in June 2022, Tanla, a CPaaS provider, and Kore.ai, a provider of enterprise conversational AI software platforms and solutions, announced their partnership in five nations, including India, the UAE, Indonesia, Vietnam, and the Philippines. This partnership is a crucial first step in providing various businesses and brands with best-in-class conversational AI-based Natural Language Processing (NLP) systems.
Notable Industry Development
- April 2022: Amazon Inc. unveiled Amazon Aurora Serverless v2, an updated version. It can assist both Software as a Service (SaaS) providers and businesses with numerous applications that must manage capacity across their databases. It has no additional costs and offers pay-as-you-go services.
List of Key Players Profiled in the Report
- SAP SE
- International Business Machines Corporation
- Oracle Corporation
- Google Inc.
- Dell EMC
- Hewlett Packard Enterprise Co.
- CA Technologies
- Microsoft Corporation
- Adobe Systems Incorporated
- Accenture PLC
- Capgemini Group
- Apple Inc.
- Kellton Tech Solutions Ltd.
Further Report Findings
- The market in North America is expected to gain a huge portion of the global digital transformation market share in the coming years because of a rise in government programs and spending on digital technologies like cloud computing, the Internet of Things, artificial intelligence, and others.
- The Canadian government introduced digital government policies in 2021 to coordinate the adoption of digital technologies like cloud computing and artificial intelligence (AI) to modernize IT systems.
- In Asia Pacific, the growth in this region is primarily driven by growing government investment in the adoption of cutting-edge technologies and rising foreign direct investment for digital transformation.
| Attributes | Details |
| Study Period | 2016-2028 |
| Base Year | 2021 |
| Estimated Year | 2022 |
| Forecast Period | 2022-2028 |
| Historical Period | 2016-2020 |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Component, By Technologies, By Deployment Type, By Organization Size, By Business Function, By Vertical and By Geography |
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| By Technologies |
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| By Organization Size |
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