Digital Transformation Market Estimates & Strategy Framework To 2022 - 2030.

The global digital transformation market size is expected to reach USD 3,810.05 billion by 2030, registering a CAGR of 23.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. The development is ascribed to the increasing need for the establishment of innovative solutions that are equipped to engage customers as well as employees to seamlessly integrate data, operations, IT, and business. Besides, the high acceptance and demand of the Internet of Things (IoT) and other evolving technologies are boosting the growth of the market.

Digital Transformation Market Segmentation

Grand View Research has segmented the global digital transformation market based on solution, service, deployment, enterprise size, end use, and region:

Based on the Solution Insights, the market is segmented into Analytics, Cloud Computing, Mobility, Social Media and Others.

• The analytics segment accounted for the largest market share of over 30% in 2021, attributable to the high demand to integrate enormous volumes of business information to generate powerful insights.
• The cloud computing segment is expected to show considerable growth over the forecast period. The cloud segment includes public, private, and hybrid cloud platforms which offer easy deployment and scalability on demand.
• This segment shows promising growth due to lower implementation costs which is why not only large enterprises but startups and Small & Medium Enterprises (SMEs) can also utilize these platforms.

Based on the Service Insights, the market is segmented into Professional Services and Implementation & Integration.

• The professional service segment accounted for a revenue share of over 70% in 2021. Professional service is a mix of consulting and managed services that support businesses of all sizes across varied industries.
• Businesses undergoing digitalization need professional services to tackle issues such as vendor selection or cultural transformation.
• The implementation and integration service segment is also expected to grow at a considerable rate as organizations are anticipated to reach out to implementation service companies for seamlessly deploying digital solutions.

Based on the Deployment Insights, the market is segmented into Hosted and On-Premise.

• The on-premises segment accounted for a revenue share of over 50% in 2021. Many organizations have selected on-premise deployment as it offers plausible choices for the extreme customization of the product.
• The hosted segment is expected to expand at the highest CAGR of 26.6% owing to the increasing use of mobile devices and advancements in information sharing technologies.

Based on the Enterprise Size Insights, the market is segmented into Large Enterprise and Small & Medium Enterprise.

• The large enterprise segment holds the largest market share of over 55% in 2021. These enterprises are embracing the digital transformation journey as digital transformation offers cost-effectiveness and smooth execution of the business process.
• Large enterprises must have a successful solution because they need the simplicity of framework coordination, better adaptability, and data protection.
• The Small and Medium Enterprise (SME) segment is expected to register the highest CAGR of 24.6% over the forecast period.

Based on the End-use Industry Insights, the market is segmented into BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail and Others.

• The increased focus of banking companies to provide seamless assistance and technical support to develop a customer-centric approach is essentially driving the market.
• The growing demand for remote functioning capabilities has increased leading to more adoption of digital transformation across the BFSI segment.
• Based on the adoption rate of new emerging technologies, retail is one of the emerging verticals that is implementing various technologies, such as cloud computing, big data analytics, DevOps, social networks, digital stores, and others

Digital Transformation Regional Outlook

North America

Europe

Asia Pacific

Latin America

Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The key players operating in the market include Apple Inc.; Microsoft Corporation; Adobe System Incorporated; Accenture; Dell EMC; CA Technologies; and International Business Machines Corporation. Heavy investments in research and development activities can be witnessed across the industry to ensure the growth of the company as well as to increase its market share.

Some prominent players in the Global Digital Transformation market include:

• Accenture plc
• Apple Inc.
• Adobe Systems Incorporated
• CA Technologies
• Dell EMC
• Hewlett Packard Enterprise Co.
• International Business Machines Corporation
• Microsoft Corporation
• Kellton Tech Solutions Ltd.
• Google Inc.

Order a free sample PDF of the in Digital Transformation Market Intelligence Study, published by Grand View Research.