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Global 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

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The global digital transformation market size was valued at USD 594.6 billion in 2021. The market is projected to grow from USD 594.6 billion in 2021 to USD 2038.9 billion by 2028, exhibiting a CAGR of 22.80% during the forecast period.
 
Digital transformation entails integrating technology into several business processes, most notably altering how you operate and provide customer value. Additionally, it's a culture shift that necessitates constant experimentation with the status quo and comfort with failure on the part of organizations. There has been a growth in the demand for digital and automated technology across the manufacturing sector. To improve the productivity of their products, manufacturers are gradually implementing the newest technologies to digitalize and automate their processes. The global digital transformation market is growingsignificantly due to the rising demand for cutting-edge technologies like the internet of things, big data analytics, artificial intelligence, and cloud computing across numerous business enterprises.
 
COVID-19 IMPACT

The coronavirus outbreak has had a favorable impact on the market for digital transformation. Due to the lockdown situation, most firms experienced significant losses and were compelled to invest in the automation of their business processes. Thus, the COVID-19 pandemic has had a sizable and favorable impact on the expansion of the global market for digital transformation. Due to the internet's fast use, wireless connection, and cloud computing, numerous industries are expected to alter. Due to the increasing importance of smart devices and the internet during pandemics, the BFSI, pharmacies, healthcare, retail, and education are some of the industries that are anticipated to undergo a significant change.
 
DRIVING FACTORS

Business Operations That Are Conducted Digitally Are Driving Demand For Digital Transformation

Modern technology has inspired creative thinking and transformation among corporations, boosting profitability. Examples include social media, big data analytics, the Internet of Things, cloud computing, and the Internet of Things. The integration of digital technologies into corporate operations is referred to as "digital transformation." It aims to alter how resources and technology are employed to serve customers better. IoT, cloud migrations, and other initiatives have helped organizations speed up their digital transformation worldwide. With the advent of digital technology, efficient, modern processes have quickly displaced older ones. Due to the rising usage of modern technologies, customers routinely evaluate firms based solely on their online customer experience. Consequently, the global market for digital transformation is rising.
 
RESTRAINING FACTORS

Digital Technologies' Concerns About Data Security and Privacy Limit Market Expansion

When adopting digital technology, security issues for company data are a top priority. The rapid adoption of cloud, AI, IoT, and blockchain technologies necessitates improved privacy and protection to reduce cyberattacks and data breaches. Cyberattacks and data breaches on cloud services increased in 2019 and accounted for 20% of reported incidents, according to the Trustwave Global Security Report in 2020. The escalating worries about data breaches, data security, and cyberattacks on cutting-edge technologies hamper the growth of the global market.
 
SEGMENTATION

By Component


Based on components, the digital transformation market is segmented into solutions and services. The solutions category dominated the market in 2021. Digital transformation solutions are employed in various sectors to modernize the procedure and meet the escalating demand. Digital material is largely dependent on the user experience. Therefore, enhancing customer experience and using it as a competitive advantage is one of the key objectives of digital transformation.
 
By Technologies

By technologies, the market is segmented into cloud computing, big data & analytics, mobility & social media management, cyber security, AI, and IoT. The IoT category dominated the market in 2021. The expansion of the cloud-based digital transformation market is anticipated to be driven by rising IoT device usage and an increase in data volume generation. Massive volumes of data are produced by IoT devices, necessitating greater storage capacity.,
 
By Deployment Type

By deployment type, the market is segmented into cloud and on-premises. The on-premises category dominated the market in 2021. Due to its security and customization capabilities, businesses initially chose the on-premises deployment of digital solutions all over the world. Besides, during the forecast period, the cloud segment is anticipated to develop at the greatest CAGR. The market is growing due to the increasing cloud infrastructure investments and the quick migration of company workloads from on-premises to the cloud.
 
By Organization Size

By organization size, the market is segmented into large enterprises and SMEs. The large enterprise category dominated the market in 2021. This is primarily due to increased digitalization and large-scale businesses' adoption of cutting-edge technologies like cloud computing, AI, and IoT. The European Communication Organization reports that 43% of businesses have digitized their operations and adopted cloud computing technologies. Large corporations can make investments in cutting-edge technology.
 
By Business Function

By business function, the market is segmented into finance, information technology, human resources, and marketing & sales. The information technology category dominated the market in 2021 because of rising technical breakthroughs and government digitalization projects.
 
By Vertical

By vertical, the market is segmented into BFSI, retail & e-commerce, IT/ITES, healthcare, life sciences & pharmaceuticals, government & defense, manufacturing, energy & utilities, and telecommunications. The BFSI category dominated the market in 2021 because BFSI has adopted smart gadgets more frequently. For instance, in January 2022, Bank of America introduced CashPro Forecasting software, based on AI and Machine Learning (ML) technology, to precisely forecast its clients' future cash positions. The AI-based solution created in partnership with fintech company Cashpro Online focuses on AI and ML technology.
 
REGIONAL INSIGHTS

 
North America is projected to hold the largest share of the digital transformation market over the forecast period because more people are using the internet, and more distinct online payment methods are being widely used. The government is also attempting to speed up the digital transformation process in North America through several efforts, such as rigorous adherence to regulatory standards for data protection. Many businesses rely on digital transformation to reach the general public and spur growth. Most of the organisations in this region have the extremely dynamic and adaptable IT support needed for digital transformation.
 
On the other hand, the Asia Pacific digital transformation market is anticipated to grow significantly over the forecast period due to the SMEs' rapid growth and the expanding service industry. Some factors persuading businesses to change their IT infrastructure to ensure future development include the growing awareness of the benefits of moving to the cloud and the rapid adoption of innovative technologies. Organizations are embracing digital transformation solutions because they enable employees to make informed decisions while enhancing the customer experience and streamlining business processes.
 
LIST OF KEY COMPANIES PROFILED:
  • 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.
 
KEY INDUSTRY DEVELOPMENTS:
  • July 2021: Microsoft announced a five-year partnership with Telstra, the biggest business in Australia, to support the country's digital transformation. This collaboration also helps Telstar reach its goal of running 9% of its services on cloud infrastructure by 2025. Because of its multi-cloud strategy, Telstra prefers Microsoft Azure as a cloud partner.
  • March 2021: The U.K. government decided to launch the Government Digital Service (DSG) program, which provides a straightforward digital identification solution and aids in "creating a single sign-on" that is functional for all users.
REPORT SCOPE AND SEGMENTATION
 
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
By Component
  • Solutions
  • Services
By Technologies
  • Cloud Computing
  • Big Data & Analytics
  • Mobility & Social Media Management
  • Cyber Security
  • AI
  • IOT
By Deployment Typ
  • Cloud
  • On-premises
By Organization Size
  • Large Enterprises
  • SMEs
By Business Function
  • Fiance
  • Information Technology
  • Human Resources
  • Marketing & Sales
By Vertical
  • BFSI
  • Retail & eCommerce
  • IT/ITES
  • Healthcare, Life Sciences & Pharmaceuticals
  • Government & Defense
  • Manufacturing
  • Energy & Utilites
  • Telecommunications
By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa
Chapter No. 1 :    Preface

    1.1.    Report Scope and Description
        1.1.1.    Study Purpose
        1.1.2.    Target Audience
        1.1.3.    USP and Key Products
    1.2.    Key Benefits for Stakeholders
    1.3.    Report Scope

Chapter No. 2 :    Report Summary

    2.1.    Key Findings
        2.1.1.    Top Investment Pockets
        2.1.1.1.    Digital Transformation  Market Attractiveness Analysis, By Component
        2.1.1.2.    Digital Transformation  Market Attractiveness Analysis, By Technologies
        2.1.1.3.    Digital Transformation  Market Attractiveness Analysis, By Deployment Type
        2.1.1.3.    Digital Transformation  Market Attractiveness Analysis, By Organization Size
        2.1.1.3.    Digital Transformation  Market Attractiveness Analysis, By Business Function
        2.1.1.3.    Digital Transformation  Market Attractiveness Analysis, By Vertical
        2.1.1.4.    Digital Transformation  Market Attractiveness Analysis, By Region
    2.2.    Market Snapshot: Global Digital Transformation  Market
    2.3.    Global Digital Transformation  Market, 2022 – 2028 (US$ Mn)

Chapter No. 3 :    Covid 19 Impact Analysis

    3.1.    Impact Assessment of COVID-19 Pandemic, By Region
        3.1.1.    North America: Impact of COVID-19 Pandemic
        3.1.2.    Europe: Impact of COVID-19 Pandemic
        3.1.3.    Asia Pacific: Impact of COVID-19 Pandemic
        3.1.4.    Latin America: Impact of COVID-19 Pandemic
        3.1.5.    The Middle-East and Africa: Impact of COVID-19 Pandemic
    3.2     Key Strategies Undertaken by Companies to Tackle COVID-19
    3.3.    Quarterly Market Revenue by Region 2021 & 2022
    3.4.    Pre COVID-19 Market Revenue, By Region, 2016-2019 (US$ Mn)
    3.5.    Post COVID-19 Market Revenue, By Region, 2020-2028 (US$ Mn)
    3.6.    Short Term Dynamics
    3.7.    Long Term Dynamics

Chapter No. 4 :    Digital Transformation  Market – By Component Segment Analysis

    4.1.    Digital Transformation  Market Overview, By Component Segment
        4.1.1.    Digital Transformation  Market Revenue Share, By Component, 2021 & 2028
    4.2.    Solutions
    4.3.    Services

Chapter No. 5 :    Digital Transformation  Market – By Technologies Segment Analysis

    5.1.    Digital Transformation  Market Overview, By Technologies Segment
        5.1.1.    Digital Transformation  Market Revenue Share, By Technologies, 2021 & 2028
    5.2.    Cloud Computing
    5.3.    Big Data & Analytics
    5.4.    Mobility & Social Media Management
    5.5.    Cyber Security
    5.6.    AI
    5.7.    IOT

Chapter No. 6 :    Digital Transformation  Market – By Deployment Type Segment Analysis

    6.1.    Digital Transformation  Market Overview, By Deployment Type Segment
        6.1.1.    Digital Transformation  Market Revenue Share, By Deployment Type, 2021 & 2028
    6.2.    Cloud
    6.3.    On-premises

Chapter No. 7 :    Digital Transformation  Market – Regional Analysis

    7.1.    Digital Transformation  Market Overview, by Region Segment
        7.1.1.    Global Digital Transformation  Market Revenue Share, By Region, 2021 & 2028
        7.1.2.    Global Digital Transformation  Market Revenue, By Region, 2017 – 2028 (US$ Mn)
        7.1.3.    Global Digital Transformation  Market Revenue, By Component, 2017 – 2028 (US$ Mn)
        7.1.4.    Global Digital Transformation  Market Revenue, By Technologies, 2017 – 2028 (US$ Mn)
        7.1.5.    Global Digital Transformation  Market Revenue, By Deployment Type, 2017 – 2028 (US$ Mn)
    7.2.    North America
        7.2.1.    North America Digital Transformation  Market Revenue, By Country, 2018 – 2028 (US$ Mn)
        7.2.2.    North America Digital Transformation  Market Revenue, By Component, 2018 – 2028
        7.2.3.    North America Digital Transformation  Market Revenue, By Technologies, 2018 – 2028
        7.2.4.    North America Digital Transformation  Market Revenue, By Deployment Type, 2018 – 2028
        7.2.5.    U.S. Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.2.6.    Canada Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.2.7.    Mexico Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
    7.3.    Europe
        7.3.1.    Europe Digital Transformation  Market Revenue, By Country, 2022 – 2028 (US$ Mn)
        7.3.2.    Europe Digital Transformation  Market Revenue, By Component, 2022 – 2028
        7.3.3.    Europe Digital Transformation  Market Revenue, By Technologies, 2022 – 2028
        7.3.4.    Europe Digital Transformation  Market Revenue, By Deployment Type, 2022 – 2028
        7.3.5.    Germany Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.6.    France Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.7.    U.K. Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.8.    Italy Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.9.    Spain Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.10.    Rest of Europe Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
    7.4.    Asia Pacific
        7.4.1.    Asia Pacific Digital Transformation  Market Revenue, By Country, 2022 – 2028 (US$ Mn)
        7.4.2.    Asia Pacific Digital Transformation  Market Revenue, By Component, 2022 – 2028
        7.4.3.    Asia Pacific Digital Transformation  Market Revenue, By Technologies, 2022 – 2028
        7.4.4.    Asia Pacific Digital Transformation  Market Revenue, By Deployment Type, 2022 – 2028
        7.4.5.    China Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.6.    Japan Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.7.    India Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.8.    South Korea Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.9.    South-East Asia Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.10.    Rest of Asia Pacific Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
    7.5.    Latin America
        7.5.1.    Latin America Digital Transformation  Market Revenue, By Country, 2022 – 2028 (US$ Mn)
        7.5.2.    Latin America Digital Transformation  Market Revenue, By Component, 2022 – 2028
        7.5.3.    Latin America Digital Transformation  Market Revenue, By Technologies, 2022 – 2028
        7.5.4.    Latin America Digital Transformation  Market Revenue, By Deployment Type, 2022 – 2028
        7.5.5.    Brazil Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.5.6.    Argentina Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.5.7.    Rest of Latin America Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
    7.6.    The Middle-East and Africa
        7.6.1.    The Middle-East and Africa Digital Transformation  Market Revenue, By Country, 2022 – 2028 (US$ Mn)
        7.6.2.    The Middle-East and Africa Digital Transformation  Revenue, By Component, 2022 – 2028
        7.6.3.    The Middle-East and Africa Digital Transformation  Market Revenue, By Technologies, 2022 – 2028
        7.6.4.    The Middle-East and Africa Digital Transformation  Market Revenue, By Deployment Type, 2022 – 2028
        7.6.5.    GCC Countries Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.6.6.    South Africa Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)
        7.6.7.    Rest of Middle-East Africa Digital Transformation  Market Revenue, 2016 - 2028 (US$ Mn)

Chapter No. 8 :    Digital Transformation  Market – Industry Analysis

    8.1.    Introduction
    8.2.    Market Drivers
        8.2.1.    Driving Factor 1 Analysis
        8.2.2.    Driving Factor 2 Analysis
    8.3.    Market Restraints
        8.3.1.    Restraining Factor Analysis
    8.4.    Market Opportunities
        8.4.1.    Market Opportunity Analysis
    8.5.    Porter’s Five Forces Analysis
    8.6.    PEST Analysis
    8.7.    Regulatory Landscape
    8.8.    Technology Landscape
    8.9.    Value Chain Analysis

Chapter No. 9 :    Competitive Landscape

    9.1.    Company Market Share Analysis – 2021
        9.1.1.    Global Digital Transformation  Market: Company Market Share, 2022
        9.1.2    Global Digital Transformation  Market: Company Market Share, 2022
    9.2.    Strategic Developments
        9.2.1.    Acquisitions & Mergers
        9.2.2.    New Product Launch
        9.2.3.    Regional Expansion
    9.3.    Company Strategic Developments – Heat Map Analysis

Chapter No. 10 : Company Profiles

    10.1.    SAP SE
        10.1.1.    Company Overview
        10.1.2.    Key Executives
        10.1.3.    Product Portfolio
        10.1.4.    Financial Overview
        10.1.5.    Operating Business Segments
        10.1.6.    Business Segment Performance
        10.1.7.    Recent Developments
    10.2.    International Business Machines Corporation
    10.3.    Oracle Corporation
    10.4.    Google Inc.
    10.5.    Dell EMC
    10.6.    Hewlett Packard Enterprise Co.
    10.7.    CA Technologies
    10.8.    Microsoft Corporation
    10.9.    Adobe Systems Incorporated
    10.10.    Accenture PLC
    10.11.    Capgemini Group
    10.12.    Apple Inc.
    10.13.    Kellton Tech Solutions Ltd.

Chapter No. 11 :    Research Methodology

    11.1.    Research Methodology
    11.2.    Phase I - Secondary Research
    11.3.    Phase II - Data Modeling
        11.3.1.    Company Share Analysis Model
        11.3.2.    Revenue Based Modeling
    11.4.    Phase III - Primary Research
    11.5.    Research Limitations
        11.5.1.    Assumptions
No Methodology
No Available