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Digital Transformation Market By Type (Solution, Service), By Solution (Data Analytics, CRM, Mobility, Social Media, Other Solutions), By Service (Consulting, Implementation & Integration, Support), By Deployment Model (On-premise, Cloud-based), By End-user (BFSI, Retail, Public Sector, Healthcare, Manufacturing, Energy & Utility, Transportation, IT & Telecom, Other End-users) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023

Digital technology is transforming the way organizations conduct business activities and interact with their customers. The growing integration of IoT technologies in business processes is increasing the uptake of digital solutions and services across the globe.

Also, increasing government spending on e-governance and the introduction of digital initiatives in both developed and developing regions are expected to boost the growth of the digital transformation market over the forecast period.

Further, the implementation of mobility policies across enterprises is supporting market growth. The global digital transformation market is projected to experience a healthy CAGR of over 15% throughout the forecast period, 2016–2023. However, data privacy and security issues are likely to impede the growth of the digital transformation market.

Report Scope

This report analyses the global digital transformation market in terms of type, solution, service, deployment model, end-user, and geography. The global digital transformation market has been segmented based on type into solutions and services. The solution segment is further sub-segmented into data analytics, customer relationship management (CRM), mobility, social media, and other solutions.

Based on services, the market is bifurcated into consulting, implementation and integration, and support services. The deployment model segment includes on-premise and cloud-based segments.

On the basis of end-user, the global digital transformation market is segmented into BFSI, retail, public sector, healthcare, manufacturing, energy & utility, transportation, IT & telecom, and other end-users. The global digital transformation market covers major geographies such as North America, Europe, Asia Pacific, and the Rest of the World.

The increasing inclination of end-user organizations towards cloud computing technology and the introduction of on-demand digital services have become emerging trends in the global digital transformation market. Also, acquisitions and mergers to enter untapped markets and enhance market footprints are one of the major strategies followed by prominent players.

On the basis of end-user, the global digital transformation market is categorized into the following segments:

  • Public Sector
  • Retail
  • BFSI
  • Healthcare
  • Manufacturing
  • Energy and Utility
  • IT & Telecom
  • Transportation
  • Other End-users

The contribution of these variants to the global digital transformation market in 2015 is as shown below:

As of 2015, the global digital transformation market was dominated by the BFSI end-user segment. The segment accounted for over a quarter of the overall digital transformation market revenue in the same year. Growing demand for net banking and mobile banking is encouraging banks to go digital and offer online banking services to customers in order to gain a competitive advantage.

The digital transformation market in the healthcare sector is projected to expand at the highest CAGR during the forecast period, 2016–2023. The increasing uptake of mHealth solutions, remote patient monitoring solutions, and clinical trial solutions is boosting the market growth in the sector.

On the basis of service, the global digital transformation market is categorized into the following sub-segments:

  • Consulting
  • Implementation and Integration
  • Support

Their contribution to the global digital transformation market in 2015 and 2023 is shown in the figure below.

As of 2015, the implementation and integration service was the largest sub-segment, accounting for over 50% of the market share. The consulting services sub-segment is expected to experience significant growth by the end of 2023. Developing a sound plan for enterprises to deploy digital transformation technologies requires effective consulting services, thus opening an opportunity window for major digital transformation consulting service providers.

On the basis of solution, the global digital transformation market is categorized into the following sub-segments:

  • Analytics
  • CRM
  • Mobility
  • Social Media
  • Other Solutions

The contribution of the aforementioned solution sub-segments to the global digital transformation market in 2015 and 2023 is shown in the figure below.

Among solutions, the social media solution is expected to be the fastest-growing sub-segment over the forecast period, 2016–2023. The increasing number of social media users across the globe is encouraging organizations to deploy social media-related digital solutions to promote their offerings and interact with customers in real-time.

The analytics sub-segment is expected to hold a major share and witness healthy growth from 2016 to 2023, driven by the growing volume of big data across enterprises. This data is being increasingly used in end-user verticals such as the BFSI and retail sectors to understand customer buying and investment behavior and for predictive analytics.

On the basis of geography, the global digital transformation market is segmented into the following regions and countries:

  • North America, U.S.
  • Canada
  • Europe united Kingdom
  • France
  • Germany
  • Rest of Europe
  • Asia PacificJapan
  • China
  • India
  • Rest of Asia Pacific
  • Latin America is part of the rest of the world.
  • Middle East and Africa

In 2015, North America was the largest regional market, holding a major chunk of the market's revenue. Early adoption of digital technology among major end-user verticals such as BFSI and the public sector is boosting the growth of the digital transformation market in the region.

Additionally, Asia Pacific is expected to emerge as an attractive market for digital solutions and service providers by the end of 2023. The market in the region is projected to expand at the highest CAGR from 2016 to 2023. Spending on digital technologies by end-user organizations in emerging markets such as China and India is increasing at a significant pace. This is expected to support market growth throughout the forecast period.

Frequently Asked Question:

The market for Digital Transformation Market is expected to reach USD$ 350 Bn in 2023.

The Digital Transformation Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2016 -2023.

The base year of this report is 2015.

SAP SE, IBM Corporation, Oracle Corporation,Google Inc.. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2016
Category:  Technology & Media
Report ID:   58279
Report Format:   PDF
Pages:   120
Rating:    4.5 (65)
Delivery Time: 24 Hours to 48 Hours   
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