Digital Transformation Market Development, Trends, Growth(CAGR of 18.1%), Demand and Forecast Till 2023-2028

PRESS RELEASE

Published March 2, 2023

IMARC Group’s latest report, titled “Digital Transformation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global digital transformation market size reached US$ 581 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,585 Billion by 2028, exhibiting a growth rate (CAGR) of 18.1% during 2023-2028.

Digital transformation has the ability to transform, integrate and simplify daily business operations by enhancing performance efficiently. It helps organizations cope with various associated risks and handling disruptions, such as marketplace fluctuation and geopolitical conditions. It assists associations in organizing their operations to save time and effort and efficiently make use of resources. Digital transformation substitutes traditional business processes with automation. Additionally, the growing efforts by the governments of various countries to promote digitalization are providing a boost to the market growth across the globe.

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Digital Transformation Market Development:

The global market is majorly driven by the increasing demand for digital transformation across various organizations to improve their brand's reputation, customer experience, and customer retention ratios. In line with this, the integration of different digital transformation technologies, such as the internet of things (IoT), is significantly contributing to the market. Furthermore, the advent of industry 4.0 in the manufacturing industry has led to the adoption of digital technologies to enhance, automate, and modernize the whole process. Apart from this, the adoption of industrial robotics and the development of information technologies are propelling the market. Moreover, the rising investments in digitalization across potential economies are creating a positive outlook for the market.

Competitive Landscape with Key Players:

Accenture PLC
Adobe Inc
Capgemini SE
Cognizant
Dell Technologies Inc
Google LLC (Alphabet Inc.)
Hewlett Packard Enterprise Company
International Business Machines Corporation
Marlabs Inc
Microsoft Corporation
Oracle Corporation
SAP SE
Siemens AG

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Key Market Segmentation:

Breakup by Type:

Solution

Analytics
Cloud Computing
Mobility
Social Media
Others

Service

Professional Services
Integration and Implementation

Breakup by Deployment Mode:

Cloud-based
On-premises

Breakup by Enterprise Size:

Large Enterprises
Small and Medium-sized Enterprises

Breakup by End-Use Industry:

BFSI
Manufacturing and Retail
Government
Healthcare
IT and Telecom
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

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