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Digital Transformation Market Share, Size, Trends, Industry Analysis Report 2023-2032 | Microsoft Corporation, IBM Corporation, Oracle Corporation, Google Inc., Cognizant
Digital Transformation Global Market
The Business Research Company's Digital Transformation Global Market Report 2023 identifies The increasing adoption of machine learning and artificial intelligence as the major driver for the Digital Transformation market's growth in the forecast period. Digital transformation provides traditional businesses with solutions like cloud computing, big data & analytics, data management, and other advanced features such as artificial intelligence and machine learning, which help in the optimization of business operations, leading to reduced efforts in operations and increased efficiency. Thus, their usage increased in various sectors such as healthcare, banking, transportation, manufacturing, and others, increasing the demand in the digital transformation market.
The global digital transformation market size grew from $1169.02 billion in 2022 to $1434.84 billion in 2023 at a compound annual growth rate (CAGR) of 22.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The digital transformation market size is expected to grow to $3152.85 billion in 2027 at a CAGR of 21.8%.
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Major competitors in the Digital Transformation market are Microsoft Corporation, IBM Corporation, Oracle Corporation, Google Inc., Cognizant, Dell EMC, Siemens AG, Hewlett-Packard Company, Adobe Systems Inc., Capgemini, Cognex Corporation
A key trend in the Digital Transformation market includes Technological advancement in digital solutions. Major companies operating in the digital transformation market are focused on developing technologically advanced products to strengthen their market position. For instance, in April 2020, Oracle Corporation, a US-based computer technology corporation and software solutions provider, built a new cloud data storage service called GoldenGate, an oracle's cloud infrastructure software that uses real-time data analytics for the analysis of data. Real-time data analysis provides a very quick analysis of data by using different logical and mathematical operations, which helps in understanding business requirements and implementing any decision instantly.
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The Digital Transformation market is segmented -
1) By Technology: Cloud Computing, Big Data and Analytics, Artificial intelligence (AI), Internet Of Things (IoT), Blockchain
2) By Deployment Mode: Cloud, On-premises
3) By Organization Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
4) By End-User: BFSI, Healthcare, Telecom and IT, Automotive, Education, Retail and Consumer Goods, Media and Entertainment Manufacturing, Government, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Digital Transformation market.
The Business Research Company's "Global Digital Transformation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Digital Transformation Market Include:
1. Executive Summary
2. Digital Transformation Market Characteristics
3. Digital Transformation Market Trends And Strategies
4. Digital Transformation Market - Macro Economic Scenario
5. Digital Transformation Market Size And Growth
……
27. Digital Transformation Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Digital Transformation Market
29. Digital Transformation Market Future Outlook and Potential Analysis
30. Appendix
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