Global Digital Transformation Market is Predicted to Reach US$ 600.8 Mn by End of 2025


 Published Date : 19 Dec 19   |   Views: 129   |  Industry : Miscellaneous

QYR Consulting has recently added a report titled, “Global Digital Transformation Market Report History and Forecast 2014-2025,” to provide a detailed market-analysis on Digital Transformation. The global Digital Transformation market was valued worth US$ 256.0 Mn in 2018 and is expected to reach US$ 600.8 Mn by 2025. The global Digital Transformation market is projected to register a healthy CAGR of 13.0% from 2019 to 2025.

Segmental Analysis

High Demand for Digitization in the Banking Sector is Expected to Augment the Application Segment

The market is segmented into three segments such as application, offerings and deployment. Based on offerings, the market is segmented into service and technology, while on the basis of deployment, the market is segregated into Cloud and On-Premise.  Further, the application segment is segmented into Defense & Aerospace, Automotive, Pharmaceuticals, Food & Beverages, Cosmetics, Consumer Goods, Education, Financial & Banking Services, and Others. There is an increasing need to develop and incorporate advanced solutions in the banking sector for online payments, to streamline processes, and to improve the operational efficiency. This can be achieved by integrating data-mining, behavioral analytics, and machine learning, which is likely to augment the application segment. 

North America

Regional Analysis

Increasing Adoption of AI and IoT in North America is Anticipated to Boost the Market

High internet connectivity in North America is likely to boost the demand for IT solutions such as online payments in the retail sector. Cloud-based strategies for managing the supply chain and increasing adoption of artificial intelligence (AI), IoT, and Data Analytics in SMEs are contributing to the robust growth of the market. Industrial and Banking sectors have a high demand for integrating new technologies for simplifying a complex process to increase productivity, which is likely to boost the growth of the market.

Key Players

Key Players Are Focusing on R&D to Improve Products & Services

Some of the key players operating in the Digital Transformation market are Oracle Corporation, Accenture PCL, Congnizant, Capegemini, Cognex Corporation, Seimens AG, IBM Corporation, Cognex Corporation, Microsoft Corporation, IBM Corporation, Google, PricewaterhouseCoopers (PWC), EMC Corporation, AP SE, Adobe Systems Inc, and The Hawlett-Packard Company. Key players are heavily investing in R&D and are keen on incorporating new technologies to promote new product development and to improve their existing services. 

Global CAGR During 2020-2026


Market Dynamics

Integrating New Technologies in Business is Likely to Accelerate the Digital Transformation Market

Increasing usage of new technologies such as the internet of things (IoT), machine learning, industrial internet, cloud services, and others have enabled digitization to transform the business model and organizational patterns. High demand for advanced analytics to boost prediction capabilities and to speed the decision-making process in an organization is expected to positively impact the growth of the market. Automating delivery service, operational issue-management, preventing a breach of information, and cyber-attacks are major factors likely to boost the growth of the Digital Transformation market.

For further information, check: https://www.qyrconsulting.com/reports/digital-transformation-market

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