According to a new market report published by Credence Research, Inc. “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”, the global digital transformation market is expected to witness a steady growth, expanding at a CAGR of over 15% from 2016 to 2023.
Browse the 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 report at https://www.credenceresearch.com/report/digital-transformation-market
Burgeoning demand for digital technology to enhance business productivity and real-time communication across enterprise is expected to boost market growth. Also, introduction of digital initiative by governments in emerging economies such as China, India and Brazil is driving the growth of the digital transformation market.
Further, enterprise focus to enhance mobile workforce and increasing uptake of connected devices across major end-user verticals are projected to support market growth over the forecast period. However, lack of awareness among end-users in developing countries and data privacy and security threats are anticipated to hamper growth of the digital transformation market to certain extent.
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The global digital transformation market ecosystem consists of solution providers, connected device providers, system integrators and service providers. The market is primarily dominated by major digital solution providers such as IBM Corporation, Microsoft Corporation and Adobe System. Key players in the digital transformation market are emphasizing more on investing substantial amount on research and development activities to come up with innovative and cost-effective solutions to gain competitive advantage.
The major players operating in the global digital transformation market are SAP SE, IBM Corporation, Oracle Corporation, Google Inc., Microsoft Corporation, Accenture PLC, Adobe System, Cap Gemini S.A, CA Technologies and Hewlett-Packard (HP).
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- Increasing number of strategic partnerships, acquisitions & mergers, and joint ventures to assist the market growth
- Enterprise shift towards smart technologies
- Solution providers are focused towards introducing cloud-based solutions to gain competitive advantage in the long run
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