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Digital Transformation Market is Expected to Grow at a CAGR of 22.7% from 2019 to Reach $3,294 billion by 2025 |Global Opportunity Analysis
Digital Transformation Market
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According to this latest publication from Meticulous Research Digital Transformation market states that the global Digital Transformation market will increase at a CAGR of 22.7% from 2019 to 2025 to reach $3,294.0 billion by 2025.
Growing adoption of IoT technology in developing countries will propel the global digital transformation market
1 How does the adoption of IoT technology in developed regions differ from the adaptation of artificial intelligence and robotic process automation in the digital transformation market?
2 Which are the high growth market segments in terms of type, regions, and countries?
3 How is the competition between the major and prominent local players in this market?
4 What impact does this have on the adoption of IoT technology in comparison to other conventional technology for global digital transformation market?
5 What are the geographical trends and high growth regions/ countries?
Conversely, which geographic segment is expected to experience the fastest growth for IoT technology in digital transformation?
6 Who are the major players in various countries and what share of the market do they hold?
7 What are the geographical trends and high growth regions/ countries?
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Increasing adoption of IoT across the globe is a key factor driving global digital transformation market. IoT helps to build smart products through new functionality, reliability, greater product capabilities, and product utilization. Many companies are considering IoT to be a strategic tool for business scalability and are helping businesses to generate new and innovative user experiences. As a result, companies are moving toward digital transformation. For instance, in 2015, the Government of India launched 'Digital India' program, a plan to digitize government processes is further aiding the growth of IoT market in India. Thus, increasing adoption of IoT by businesses as well as government, is driving global digital transformation market. According to an article published by Digital Marketing Institute, 50% of the Global 2000 companies will be relying on the products, services & experiences based on digital transformation by 2020. Consequently, digital transformation market is expected to grow with a growth rate of 15.8% and cross the mark of $3 Bn by 2025
Internet of Things (IoT) is projected to Register Exponential Growth during the Forecasted Period in the Digital Transformation Market
Digital Transformation Market, by Technology
1 IoT
2 Cloud Computing
3 Big Data Analytics
4 Artificial Intelligence
5 Cybersecurity
6 Mobility Solutions
7 AR/VR
8 Robotic Process Automation
9 Others
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The Education Segment is expected to Witness the Highest CAGR during the Forecast Period
On the basis of industry vertical, the education segment of the digital transformation market which compromises academic and research industries is projected to grow at the highest rate in the coming years. Increasing demand for platform independent or cross-platform applications from the education vertical translates into huge growth opportunities for the digital transformation solution vendors.
Asia-Pacific: Fastest Growing Regional Market
In terms of geography, North America, comprising the U.S. and Canada, is expected to account for the largest share of the global market in 2018. However, Asia-Pacific is expected to witness a rapid growth during the forecast period. The growth of this market is mainly attributed to the global shift of manufacturing from North America & Europe to Asia-Pacific region and related rise in the use of new technologies are majorly attributed to the large of share this region. In addition, rising industrialization, significantly growing automotive and aerospace & aviation industry, infrastructural developments, rising private & government investment in manufacturing sectors, rising demand for various consumer goods from large population base, rising income level, and rising urbanization are the key factors propelling the growth of the Asia-Pacific digital transformation market.
Key Players
The key players operating in the global digital transformation market are Dell Emc, Cognizant, Accenture PLC, Google, Capgemini, Siemens AG, Cognex Corporation, IBM Corporation, Microsoft Corporation, Deloitte Touche Tohmatsu Ltd, PricewaterhouseCoopers (PWC), The Hewlett-Packard Company, SAP SE, Oracle Corporation, Adobe Systems Inc., Hakuna Matata Solutions, ScienceSoft Inc, SumatoSoft and Space-O Technologies.
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Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.
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