Digital Transformation Market was valued at USD 465 Billion in 2019 and predicted to expand at 16.5% CAGR during the forecast period.

Introduction of the Digital Transformation Market Report

Digital transformation can be defined as the integration of digital technology including cloud computing, artificial intelligence, big data, social media, cybersecurity and internet of Things for modifying and developing business processes, culture, and customer experiences. The digital transformation help in collecting data to monitor performance, make more strategic business decisions, and in improving business processes in all areas including marketing, operations, human resources, administration, and customer service.

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Market Dynamic

Key Drivers and Emerging Trends

Rapid industrialization; growing demand for industrial automation coupled with the increasing labour cost; increasing B2B & B2C e-commerce applications; the increasing penetration of smartphones and social media platforms; and the need to provide improved customer experience are some of the major factors expected to augment the growth of the digital transformation market size over the forecast period. In addition, the rising adoption of digital technologies, including Internet of Things (IoT), and Machine Learning (ML), Artificial Intelligence (AI), cloud computing, big data, social media, wireless communication, and robotics among business enterprises is further propelling the digital transformation market growth. Moreover, according to the World Bank, in 2018, around 51% of the global population use internet via a computer, mobile phone, personal digital assistant, games machine, and digital TV among others.

Restraint in the Digital Transformation Market

However, rising security and privacy concern pertaining critical enterprise data and increasing incidents of cyber-attack and data breaches in business organizations is expected to restraint the growth of the market. Additionally, implementation complexity and lack of skilled workforce may further hamper the growth of the global digital transformation market size.

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Technology – Segment Analysis

Based on the technology, the cybersecurity segment is expected to grow at a significant rate over the forecast period owing to the increasing amount of online business critical data and rapidly rising internet frauds, cybercrimes, and data breaches. Moreover, 32% of businesses faced cyber security breaches as per the Cyber Security Breaches Survey 2019, by the Department for Digital, Culture, Media and Sport, UK. This is expected to drive the growth of the market.

End-Use Industry – Segment Analysis

Based on the end-use industry, the retail segment is anticipated to account for a large share in the market. This is primarily due to the growing adoption of automation, IoT, and big data analytics in the retail sector. Additionally, according to the United Nations Conference on Trade and Development, the e-commerce sales reached $25.6 trillion globally in 2018, with an increase of 8% from the previous year. This is expected to support the market growth.

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Regional – Segment Analysis:

Based on region, Asia Pacific is expected to witness prominent CAGR over the forecast period owing to the increasing penetration of internet, growing adoption of digital technologies including robotics, artificial intelligence, and cloud computing in retail, IT and telecommunication, and BFSI sectors in the region. Moreover, according to the India Brand Equity Foundation (IBEF), the online penetration of retail is expected to reach 10.7% by 2024 versus 4.7% in 2019 and the e-commerce business in India is expected to reach $99 billion by 2024, growing at a CAGR of 27% over 2019, thereby contributing to the growth of the market in Asia-Pacific.

Top Market Players

Several Leading players operating in the market, include, Oracle Corporation, International Business Machines Corporation, SAP SE, Microsoft Corporation, SAS Institute Inc., Adobe, Inc., Cognizant Technology Solutions Corporation, SAS Institute Inc., Alphabet Inc., and HubSpot Inc. among others. 

Key Developments: 

• • In 2019, SAP SE launched SAP Leonardo Internet of Things (IoT), a platform-as-a-service offering. Leonardo IoT is designed to help enterprises in capturing data from a variety of IoT sources, analyze it in conjunction with SAP applications and create new business models.

Segments covered in the Report:

The global Digital Transformation Market has been segmented on the basis of technology, end-use industry, and key regions. Based on technology, the market is segmented into cloud computing, artificial intelligence, big data and analytics, mobility/social media, cybersecurity, internet of things, and others. Based on the end-use industry, automotive, food & beverages, information technology, telecommunication, BFSI, retail, and others. 

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Key questions answered in this research report:

• • At what pace is global Digital Transformation Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Digital Transformation Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Digital Transformation Market?
  • Which technology generated maximum revenues in 2019 and identify the most promising technology during the forecast period?
  • What are the various end-use industries of global Digital Transformation Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2019)	USD 465 Billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Technology, By End-Use Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Oracle Corporation, International Business Machines Corporation, SAP SE, Microsoft Corporation, SAS Institute Inc., Adobe, Inc., Cognizant Technology Solutions Corporation, SAS Institute Inc., Alphabet Inc., and HubSpot Inc. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Digital Transformation Market by Technology

• • Cloud Computing
  • Artificial Intelligence
  • Big Data and Analytics
  • Mobility/Social Media
  • Cybersecurity
  • Internet of Things
  • Others

Global Digital Transformation Market by End-Use Industry

• • Automotive
  • Food & Beverages
  • Information Technology
  • Telecommunication
  • BFSI
  • Retail
  • Others

Global Digital Transformation Market by Region

• • North America Digital Transformation Market (Option 1: As a part of the free 25% customization)
    • North America Digital Transformation Market by Technology
    • North America Digital Transformation Market by End-Use Industry
    • US Digital Transformation Market All-Up
    • Canada Digital Transformation Market All-Up
  • Europe Digital Transformation Market (Option 2: As a part of the free 25% customization)
    • Europe Digital Transformation Market by Technology
    • Europe Digital Transformation Market by End-Use Industry
    • UK Digital Transformation Market All-Up
    • Germany Digital Transformation Market All-Up
    • France Digital Transformation Market All-Up
    • Spain Digital Transformation Market All-Up
    • Rest of Europe Digital Transformation Market All-Up
  • Asia-Pacific Digital Transformation Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Digital Transformation Market by Technology
    • Asia-Pacific Digital Transformation Market by End-Use Industry
    • China Digital Transformation Market All-Up
    • India Digital Transformation Market All-Up
    • Japan Digital Transformation Market All-Up
    • Rest of APAC Digital Transformation Market All-Up
  • RoW Digital Transformation Market (Option 4: As a part of the free 25% customization)
    • RoW Digital Transformation Market by Technology
    • RoW Digital Transformation Market by End-Use Industry
    • Brazil Digital Transformation Market All-Up
    • South Africa Digital Transformation Market All-Up
    • Saudi Arabia Digital Transformation Market All-Up
    • UAE Digital Transformation Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Digital Transformation Market All-Up

Major Players Operating in the Digital Transformation Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Oracle Corporation
  • International Business Machines Corporation
  • SAP SE
  • Microsoft Corporation
  • SAS Institute Inc.
  • Adobe, Inc.
  • Cognizant Technology Solutions Corporation
  • SAS Institute Inc.
  • Alphabet Inc.
  • HubSpot Inc.