According to BlueWeave Consulting, the Global Digital Transformation Market is expected to grow with a significant rate during the forecast period 2019–2025, due to its better applications such as proficient of implanting intelligence into business manoeuvres to facilitate improved and more effective customer engagements.
The major factor driving the market is the rise independence of the retail, BFSI, and automotive sectors on IoT-based products & solutions. Furthermore, with the advent of AI and machine learning and rapid deployment of IoT and connected infrastructure will accelerate the growth of the Digital Transformation market. Moreover, increasing solicitations of digital transformation in organizations for mitigating risks and handling disruption like corporate restructuring, marketplace fluctuation, and the geopolitical environment will contribute to digital transformation market growth during the forecast period. Also, augmentation in the application of digital transformation in enterprises for enhancing their brand’s reputation, rising customer experience and retention ratios through the enactment of software which helps the organizations in instructing and exercise their internal teams about several aspects.
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Artificial Intelligence Technology of Digital Transformation Market is projected to be the leading segment of the overall market during the forecast period
On the basis of Technology, the Digital Transformation market has been segmented into Cloud Computing, Big Data & Analytics, Mobility/Social Media, Cyber security and Artificial Intelligence. Artificial Intelligence segment dominates the global Digital Transformation Market owing to its technologies such as natural language processing, machine learning, and expert systems. Cloud Computing is driven by its features like with low initial investment help in enhancing IT capabilities.
The hosted segment of Digital Transformation Market is anticipated to be the dominating segment of the overall market during the forecast period
On the basis of Deployment, the Digital Transformation market has been categorized into Hosted and On-premise. The hosted segment will lead the market owing to its features like a less initial investment, Accessible anywhere anytime and very secure data center. On-premise is driven by its features like improving visibility and facilitating better decision-making, efficiency, and services.
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Healthcare is projected to lead the industry for utilizing applications of the Digital Transformation during the forecast period
On the basis of End-User Industry, the Digital Transformation market has been segmented into BFSI, Telecom, Healthcare, Utility, Retail, Automotive, ICT, and Others. By End-User Industry, Healthcare will lead the market owing to the speedily rising customers has headed to the requirement of accessible business models to facilitate efficient handling of patients. BFSI will influence by its help in mitigating risks associated with costs and facilitate the implementation of new business strategies.
North America accounts for the lion’s share of the global Digital Transformation market during the anticipated period.
On the basis of region, the Digital Transformation market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the global digital transformation market over the forecast period due to early adoption of digital transformation, technological advancement and increasing investment in R&D activities for the development of new technologies. Europe market will drive by higher industrial penetration, and availability of capital is enabling companies to invest in new technology, and the focus on the automotive sector.
Global Digital Transformation Market Competitive Landscape
Companies such as SAP SE, IBM Corporation, Oracle Corporation, Google Inc., Dell EMC, Hewlett Packard Enterprise Co., CA Technologies, Microsoft Corporation, Adobe Systems Incorporated, Accenture PLC, Capgemini Group, Apple Inc., Siemens AG, Cognex Corporation, and Kellton Tech Solutions Ltd., are the key players in the global Digital Transformation market.
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