The global digital transformation market size is expected to reach USD 3,739.06 billion by 2030, according to a new study by Polaris Market Research. The report “Digital Transformation Market Share, Size, Trends, Industry Analysis Report, By Type; By Deployment (Hosted, On-premise); By Enterprise Size; By End-Use (BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail, Others); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Due to the fast expansion of the Internet of Things (IoT) industry and the rising acceptance of cloud-based services, the market is growing at a notable rate. Furthermore, the emergence of the 4.0 industry necessitates using digital transformation technologies to improve organizational efficiency and productivity while maximizing consumer experience contributing to industrial success. Moreover, the advent of the COVID-19 pandemic drives market demand owing to increased access to internet and blockchain services, boosting the digital transformation industry’s market growth throughout the forecast period.
Based on deployment, the on-premises segment held the largest revenue share, as it facilitates high-end data security and easy compliance with numerous government policies. The hosted segment is likely to rise at a healthy rate in the foreseen years due to increasing advancements in the IT sector and the penetration of smartphones. Moreover, the segment provides cost-effectiveness and flexibility and allows large-scale customization of goods & services.
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The shifting consumer preferences and increasing operation proficiencies in the organizations lead to the growing demand for digitalizing business functions to drive the industry’s growth. The adoption of evolving technologies such as big data & analytics, IoT, cloud, social media, and mobility has led to the advancements and transformation of the industries, which leads to the growth of the business ecosystem.
Industry participants such as Adobe, Accenture, Alcor Solutions, Inc., Broadcom, Inc, Apple, Inc., CA Technologies, Dell Technologies Inc., Cognizant, Equinix, Inc., HCL Technologies, Google, Inc., TIBCO Software Inc., Hewlett Packard Enterprise, International Business Machines Corp., Interfacing, KELLTON TECH, Microsoft Corp, Marlabs, Oracle Corporation, Smartstream, SAP Company, and Yash Technologies are some of the key players operating in the global market.
Polaris market research has segmented the digital transformation market report on the basis of type, deployment, enterprise size, end-use, and region:
Digital Transformation, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Cloud Computing
- Social Media
- Professional Services
- Implementation & Integration
Digital Transformation, Deployment Outlook (Revenue – USD Billion, 2018 – 2030)
Digital Transformation, Enterprise Size Outlook (Revenue – USD Billion, 2018 – 2030)
- Large Enterprise
- Small & Medium Enterprise
Digital Transformation, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- IT & Telecom
Digital Transformation, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa