Digital Transformation Market Size worth $12.72 Trillion By 2034 | CAGR: 28.20%

The global digital transformation market size is expected to reach USD 12.72 trillion by 2034, 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, and By Region -Market Forecast, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market is growing at a notable rate due to the fast expansion of the Internet of Things (IoT) industry and the rising acceptance of cloud-based services. 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.

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 Trillion, 2020 - 2034)

• Solution
  • Analytics
  • Cloud Computing
  • Mobility
  • Social Media
  • Others
• Service
  • Professional Services
  • Implementation & Integration

Digital Transformation, Deployment Outlook (Revenue - USD Trillion, 2020 - 2034)

• Hosted
• On-premise

Digital Transformation, Enterprise Size Outlook (Revenue - USD Trillion, 2020 - 2034)

• Large Enterprise
• Small & Medium Enterprise

Digital Transformation, End-Use Outlook (Revenue - USD Trillion, 2020 - 2034)

• BFSI
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Retail
• Others

Digital Transformation, Regional Outlook (Revenue - USD Trillion, 2020 - 2034)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Netherlands
  • Russia
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa