Frequently Asked Question
The global Digital transformation market was valued at USD 584.9 billion in 2022.
The Digital transformation market is expected to grow at a CAGR of 20.80% between 2023 and 2030, reaching USD 2195.584526 Billion in 2030.
The report is forecasted from 2016 -2023.
Analytics is the leading segment by material, holding about two-thirds share in terms of value in 2022.
The Hosted Systems segment governs the demand for Digital transformation in the world.
The Cloud Computing segment is expected to post the highest CAGR during the forecast period.
Europe is fueling the growth of the digital transformation industry, with over a three-fifths share in 2022.
The top players include Accenture plc, Apple Inc., Adobe Systems Incorporated, CA Technologies, Dell EMC, Hewlett Packard Enterprise Co., International Business Machines Corporation, and others.
Rapid advancements in technologies such as artificial intelligence (AI), cloud computing, big data analytics, Internet of Things (IoT), and blockchain & widespread adoption of digital technologies are the major market drivers.
Change management is a critical aspect of digital transformation & budget constraints such as significant investments in technology infrastructure, software, talent acquisition, and training are the major market restraints.