Allied Market Research published a new report, titled, “Digital Transformation Market Share Booming with CAGR of 25.4% Reach USD 6.8 Trillion by 2032.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global digital transformation market was valued at USD 721.6 billion in 2022, and is projected to reach USD 6.8 trillion by 2032, growing at a CAGR of 25.4% from 2023 to 2032.
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Driving Factors Digital Transformation Market
The digital transformation market is expected to witness notable growth owing to increase in use of digital experience platforms (dxps) to enhance the customer experience, growth in usage of mobile devices and apps and rise in adoption of industrial robots. Moreover, an increase in adoption of industry 4.0 technology is expected to provide lucrative opportunities for the growth of the market during the forecast period.
Market Segmentation Digital Transformation Market
The digital transformation market is segmented on the basis of component, deployment mode, enterprise size, technology, industry vertical, and region. On the basis of component, the market is bifurcated into solution, and service. On the basis of deployment mode, the market is bifurcated into on-premise, and cloud.
Key Players Digital Transformation Market
- Adobe Systems Inc.,
- Cognizant Technology Solutions Corporation,
- Google Inc,
- HCL Technologies Limited,
- Hewlett Packard Enterprise Development LP,
- IBM Corporation,
- Microsoft Corporation,
- Oracle Corporation and
- SAP SE.
On the basis of region, the North America segment held the highest market share in terms of revenue in 2022, accounting for more than one-third of the digital transformation market revenue. The increase in the usage of digital transformation solutions in businesses to improve businesses and the customer experience is anticipated to propel the growth of the market in this region.
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