Meticulous Research® –
leading global market research company is researching on digital transformation
market titled “Digital Transformation Market ” by Technology
(IoT, Cloud, Big Data, AI), Process Transformation (Customer, Operation,
Product, Workforce), End-use Industry (Retail, Healthcare, Manufacturing,
Insurance), Industry Size - Global Forecast to 2025.
According to this latest
publication from Meticulous Research® Digital Transformation market states that
the global Digital Transformation market will increase at a CAGR of 22.7% from
2019 to 2025 to reach $3,294.0 billion by 2025. Increasing adoption of IoT
across the globe is a key factor driving global digital transformation market.
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IoT helps to build smart
products through new functionality, reliability, greater product capabilities,
and product utilization. Many companies are considering IoT to be a strategic tool
for business scalability and are helping businesses to generate new and
innovative user experiences. As a result, companies are moving toward digital
transformation.
For instance, in 2015, the
Government of India launched ‘Digital India’ program, a plan to digitize
government processes is further aiding the growth of IoT market in India. Thus,
increasing adoption of IoT by businesses as well as government, is driving
global digital transformation market. According to an article published by
Digital Marketing Institute, 50% of the Global 2000 companies will be relying
on the products, services & experiences based on digital transformation by
2020.
Consequently, digital
transformation market is expected to grow with a growth rate of 15.8% and cross
the mark of $3 Bn by 2025 Internet of Things (IoT) is projected to Register
Exponential Growth during the Forecasted Period in the Digital Transformation
Market on the basis of technology, the digital transformation market is
segmented into iot, cloud computing, big data analytics, artificial
intelligence, cybersecurity, mobility solutions, ar/vr, and robotic process
automation among others. among these, iot is expected to be the fastest growing
category in the market.
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IoT is on high growth
trajectory driven by digital initiatives of the government and attracting
highest FDI. various infrastructural projects such as smart cities and
digitalization are creating high growth opportunities giving further push to
iot in service sectors namely communication, healthcare, technology, energy,
banking, and others. The Education Segment is expected to Witness the Highest
CAGR during the Forecast Period On the basis of industry vertical, the
education segment of the digital transformation market which compromises
academic and research industries is projected to grow at the highest rate in
the coming years.
Increasing demand for
platform independent or cross-platform applications from the education vertical
translates into huge growth opportunities for the digital transformation
solution vendors. Asia-Pacific: Fastest Growing Regional Market In terms of
geography, North America, comprising the U.S. and Canada, is expected to
account for the largest share of the global market in 2018. However,
Asia-Pacific is expected to witness a rapid growth during the forecast period.
The growth of this market
is mainly attributed to the global shift of manufacturing from North America
& Europe to Asia-Pacific region and related rise in the use of new technologies
are majorly attributed to the large of share this region. In addition, rising
industrialization, significantly growing automotive and aerospace &
aviation industry, infrastructural developments, rising private &
government investment in manufacturing sectors, rising demand for various
consumer goods from large population base, rising income level, and rising
urbanization are the key factors propelling the growth of the Asia-Pacific
digital transformation market.
Key Players The key
players operating in the global digital transformation market are Dell Emc,
Cognizant, Accenture PLC, Google, Capgemini, Siemens AG, Cognex Corporation,
IBM Corporation, Microsoft Corporation, Deloitte Touche Tohmatsu Ltd,
PricewaterhouseCoopers (PWC), The Hewlett-Packard Company, SAP SE, Oracle
Corporation, Adobe Systems Inc., Hakuna Matata Solutions, ScienceSoft Inc,
SumatoSoft and Space-O Technologies.
Top 10 Companies in Digital
Transformation Market
Scope of the Report:
Market by Technology
- Internet of
Things
- Cloud
Computing
- Big Data
& Analytics
- Artificial
Intelligence
- Cybersecurity
- Mobility
Solutions
- Augmented
Reality/Virtual Reality
- Robotic
Process Automation
- Others
Market by End-Use Industry
- Retail
- Government
& Public Sector
- Healthcare
- Supply Chain
& Logistics
- Utilities
- Manufacturing
- Insurance
- IT &
Telecom
- Media &
Entertainment
- Banking
& Financial Services
- Education
- Others
Market by Industry Size
- Small &
Medium Enterprises
- Large
Enterprises
Market by Process
- Customer
transformation
- Operational
Transformation
- Product
Transformation
- Workforce
Transformation
Market by Geography:
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of
Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of
Asia-Pacific
- Latin
America
- Mexico
- Argentina
- Chile
- RoLATM
- Middle East
& Africa
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