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. Growing integration of IoT technologies in business process is increasing the uptake of digital solutions and service across the globe. Also, increasing government spending on e-governance and introduction of digital initiatives in both developed and developing regions are expected boost growth of the digital transformation market over the forecast period. Further, implementation of mobility policies across enterprises is supporting the market growth. The global digital transformation market is projected to experience healthy CAGR of over 15% throughout the forecast period, 2016-2023. However, data privacy and security issue is likely to impede growth of the digital transformation market.

Report Scope

This report analyzes 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 solution and service. 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 & integration, support service. 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 Rest of World.

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

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

Public Sector

Retail

BFSI

Healthcare

Manufacturing

Energy & 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 BFSI end-user segment. The segment accounted for over quarter of the overall digital transformation market revenue in the same year. Growing demand of net banking and mobile banking is encouraging banks to go digital and offer online banking services to customers in order to gain competitive advantage. The digital transformation market in healthcare sector is projected to expand at the highest CAGR during the forecast period, 2016 – 2023. 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 following sub-segments:

Consulting

Implementation & Integration

Support

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

 

As of 2015, the implementation and integration service was the largest sub-segment, accounting for over 50% market share. The consulting service sub-segment is expected to experience significant growth by the end of 2023. Developing a sound plan for enterprises to deploy digital transformation technologies require 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 following sub-segments:

Analytics

CRM

Mobility

Social Media

Other Solutions

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

Among solutions, the social media solution is expected to be fastest growing sub-segment over the forecast period, 2016 – 2023. 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 major share and witness healthy growth from 2016 to 2023 driven by growing volume of big data across enterprises. This data is being increasingly used in end-user verticals such as BFSI and retail sectors to understand customer buying or investment behavior and for predictive analytics.

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

North America U.S.

Canada

EuropeUnited Kingdom

France

Germany

Rest of Europe

Asia PacificJapan

China

India

Rest of Asia Pacific

Rest of the WorldLatin America

Middle East and Africa

In 2015, North America was the largest regional market, holding major chunk of the market revenue. Early adoption of digital technology among major end-user verticals such as BFSI and public sector is boosting growth of the digital transformation market in the region. Additionally, Asia Pacific is expected to emerge as an attractive market for digital solution 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 the market growth throughout the forecast period.

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Published Date:  Dec 2016
Category:  Technology & Media
Report ID:   58279
Report Format:   PDF
Pages:   120
Rating:    4.5 (65)
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