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New study: Digital transformation market forecast to 2024

IT Market Research

Global Digital Transformation Market, By Geography, Component (Solution {Cloud Computing, Big Data & Analytics, Mobility, Disruptive Technology} Service {Professional Services, System Integration}); Deployment (On-Premise, Cloud); Business Type ( B2B, B2B2C, B2C); Enterprise (Large Enterprise, Small Enterprise & Medium Enterprise); Vertical (Banking Financial Services & Insurance (BFSI), Healthcare, Telecommunication & IT, Automotive, Education, Retail & Consumer Goods, Media & Entertainment, Manufacturing, Government) – Industry Trends and Forecast to 2024

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According to a new report published by Data Bridge Market Research, titled, Global Digital Transformation Market – Industry Trends and Forecast to 2024

Market Analysis: Global Digital Transformation Market

The Global Digital Transformation Market accounted for USD 167.6 million in 2016 growing at a CAGR of 19.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Market Definition: Global Digital Transformation Market

Digital transformation is the process of customizing technologies in order to drive new value for employees as well as customers and competing more efficiently in the digital technology market. Also discover monetization opportunities.

In order to stay competitive, business must customize with present demands by digitizing their processes and business models.

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It has its wide application in Healthcare, Telecommunication & IT, Automotive, Education, Retail & Consumer Goods, Media & Entertainment, Manufacturing, and others.Innovation in Business and Changing Customer Preferences may act as a major driver in the growth of digital transformation market. On the other side privacy concerns for confidential data may hinder the market.

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Major Market Drivers & Restraints: Global Digital Transformation Market

  • Rapid Proliferation of Mobile Devices and Apps
  • Innovation in Business and Changing Customer Preferences
  • Increasing Penetration of IoT and Adoption of the Cloud Platform
  • Improvement in operational flexibility
  • Optimization of end-to-end customer experience
  • Security and Privacy Concerns for Confidential Data
  • Lack of Digital Skills and Resources

Market Segmentation: Global Digital Transformation Market

The global digital transformation market is segmented on the basis of component into solution and service. The solution segment is further segmented into cloud computing, big data & analytics, mobility, disruptive technology, and social media.

The disruptive technology segment is further segmented into internet of things (IoT), block chain technology, and artificial intelligence (AI). The service segment is further segmented into professional services, and system integration.

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The global digital transformation market is also segmented on the basis of deployment type into On-Premise, Cloud.

On the basis of business type, the global digital transformation market is further segmented into Business-To-Business (B2B), Business-To-Business-To-Consumer (B2B2C), and Business-To-Consumer (B2C).

On the basis of Enterprise, the global digital transformation market is segmented into Large Enterprise, Small Enterprise and Medium Enterprise.

On the basis of vertical, the global digital transformation market is further segmented into banking financial services & insurance (BFSI), healthcare, telecommunication & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government.

On the basis of geography, global digital transformation market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

In 2017, North America is expected to dominate the market.

Company Share Analysis: Global Digital Transformation Market

The report for digital transformation market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others.

The report also measures technology life line curve and market time line to analyze and do more affective investments.

Major Market Competitors: Global Digital Transformation Market

Some of the major players of the global digital transformation market are Accenture, Adobe Systems Software Ireland Ltd., Apple Inc., CA, Capgemini, Dell Inc., google Inc., HP Development Company, L.P., IBM Corporation, Microsoft, Oracle, SAP SE, Cognizant, and others.

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