Global Digital Transformation Market By Overview
Digital Transformation Market accounted for US$ 852.2 billion in 2024 and is estimated to be US$ 7758.5 billion by 2034 and is anticipated to register a CAGR of 24.7%.
Digital transformation is connection of real time, granular data such as wearable, smartphones, smart appliances, m-commerce, and connected devices with recent technologies like cloud native applications, big data, artificial intelligence, and blockchain. Rising adoption of smartphones applications and increasing penetration of Internet of Things (IoT) are key factors driving growth of the digital transformation market. According to Pew Research Center in 2019, it is anticipated that more than 5 billion people have mobile devices, and over half of these connections are smartphones. In addition, growing smart city projects, increasing adoption of cloud platforms and use of real time application globally are other factors projected to boost growth of the market over the forecast period. However, high cost associated, and data privacy and security threats are key factors hampering growth of the market. Additionally, lack of skilled workforce and lack of awareness about benefits of digital transformation, are other factors accounted to restrain growth of the market over the forecast period. Nevertheless, increasing adoption of brings your own device (BYOD), internet enabled devices, and mobile payment systems such as mobikwik, paytm, BHIM, etc. are creating major trend for the growth of the market.
The digital transformation market is segmented based on enterprise, deployment type, type service, solutions, end-user, and region.
Based on enterprise, the digital transformation market is segmented into large enterprise and small & medium enterprise. On the basis of deployment type, the target market is classified into hosted and on-premise. Based on service type, the market is segmented into professional services and implementation & integration. Based on solution, the market is bifurcated into analytics, cloud computing, mobility solutions, AI/AR/VR, robotic process automation, and others. On the basis of end-user, the target market is BFSI, government, healthcare, IT & Telecom, manufacturing, retail, supply chain & logistics, media & entertainment, banking & financial services, education sector, and others.
Based on region the digital transformation market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for largest market share in terms of revenue and is a dominant player in the digital transformation market. This dominance can be attributed to changing preference toward online payment system and increasing penetration of internet in countries in the region. Asia Pacific market is projected to register highest growth rate over the forecast period, owing to rising adoption of digital transformation from small & medium sized companies, and increasing awareness about benefits of cloud in emerging economies in the region.
The key players operating the Digital Transformation market involves CA Technologies, Equinix, Dell Emc, Cognizant , Accenture PLC, Google Inc., Capgemini Group, Siemens AG, Cognex Corporation, IBM Corporation, Microsoft Corporation, The Hewlett-Packard Company, SAP SE, Oracle Corporation , Adobe Systems Inc., Hakuna Matata Solutions , ScienceSoft Inc., Kellton Tech Solutions Ltd., Accenture PLC, and SumatoSoft. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in August 2018, Dell EMC launched the new Ready Solutions for AI. It is specialized designs for Machine Learning with Hadoop and Deep Learning with NVIDIA. The Dell EMC Ready Solutions simplifies AI environments, delivers deeper& faster insights, and leverages Dell EMC's proven expertise to help organizations realize the full potential of AI.
Detailed Segmentation:
Digital Transformation Market, By Enterprise:
- Large Enterprise
- Small and Medium Enterprise
Digital Transformation Market, By Deployment Type:
- Hosted
- On-premise
Digital Transformation Market, By Type Service:
- Professional Services
- Implementation & Integration
Digital Transformation Market, By Solutions:
- Analytics
- Cloud Computing
- Mobility Solutions
- AI/AR/VR
- Robotic Process Automation
- Others (Cybersecurity, Blockchain, DevOps)
Digital Transformation Market, By End-user:
- BFSI
- Government
- Healthcare
- IT & Telecom
- Manufacturing
- Retail
- Supply Chain & Logistics
- Media & Entertainment
- Banking & Financial Services
- Education Sector
- Others (Utilities, Insurance, Agriculture)
Digital Transformation Market, By Region:
- North America
- North America Digital Transformation Market, By Enterprise
- North America Digital Transformation Market, By Deployment Type
- North America Digital Transformation Market, By Type Service
- North America Digital Transformation Market, By Solutions
- North America Digital Transformation Market, By End-user
- North America Digital Transformation Market, By Country
- U.S.
- Canada
- Europe
- Europe Digital Transformation Market, By Enterprise
- Europe Digital Transformation Market, By Deployment Type
- Europe Digital Transformation Market, By Type Service
- Europe Digital Transformation Market, By Solutions
- Europe Digital Transformation Market, By End-user
- Europe Digital Transformation Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Asia Pacific Digital Transformation Market, By Enterprise
- Asia Pacific Digital Transformation Market, By Deployment Type
- Asia Pacific Digital Transformation Market, By Type Service
- Asia Pacific Digital Transformation Market, By Solutions
- Asia Pacific Digital Transformation Market, By End-user
- Asia Pacific Digital Transformation Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Latin America Digital Transformation Market, By Enterprise
- Latin America Digital Transformation Market, By Deployment Type
- Latin America Digital Transformation Market, By Type Service
- Latin America Digital Transformation Market, By Solutions
- Latin America Digital Transformation Market, By End-user
- Latin America Digital Transformation Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Middle East & Africa Digital Transformation Market, By Enterprise
- Middle East & Africa Digital Transformation Market, By Deployment Type
- Middle East & Africa Digital Transformation Market, By Type Service
- Middle East & Africa Digital Transformation Market, By Solutions
- Middle East & Africa Digital Transformation Market, By End-user
- Middle East & Africa Digital Transformation Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
Company Profile:
- CA Technologies.*
- Company Overview
- Chipset Portfolio
- Key Highlights
- Financial Performance
- Equinix
- Dell Emc
- Cognizant
- Accenture PLC
- Google, Inc.
- Capgemini Group
- Siemens AG
- Cognex Corporation
- IBM Corporation
- Microsoft Corporation
- The Hewlett-Packard Company
- SAP SE
- Oracle Corporation
- Adobe Systems Inc.
- Hakuna Matata Solutions
- ScienceSoft, Inc.
- Kellton Tech Solutions, Ltd.
- Accenture PLC
- SumatoSoft
“*” marked represents similar segmentation in other categories in the respective section
FAQs
The digital transformation market accounted for US$ 852.2 billion in 2024 and is estimated to be US$ 7758.5 billion by 2034
The market is anticipated to register a CAGR of 24.7% during the forecast period.
The global digital transformation market is segmented based on enterprise, deployment type, type service, solutions, end-user, and region.
The digital transformation market has witnessed substantial growth, owing to digitalizing organizational business functions to serve changing customer preferences and enhance operational efficiency, rapid proliferation of mobile devices and apps, and increasing penetration of IoT and adoption of cloud services, and need to improve operational performance to gain competitive benefits in the market.
North America accounts for the largest market share in terms of revenue and is a dominant player in the global digital transformation market. This dominance can be attributed to changing preference toward online payment system and increasing penetration of internet in countries in the region.
Microsoft Corporation is one of the leading digital transformation solution and service providers across the globe. The company is one of the top player in the digital transformation market and has majorly adopted inorganic growth strategies to diversify its product offerings with the help of innovative technologies.