The Market for Digital Transformation Is Anticipated to Reach USD 3,810.05 Billion By 2030, Increasing At A CAGR Of 23.50%.

Market Research Future Insights:

The digital transformation market is anticipated to reach USD 3810.05 billion by 2030, increasing at a CAGR of 23.50% from 2022 to 2030. Some of the major drivers propelling the market expansion are the rising use of mobile devices, rising IT investment by businesses to implement digital solutions and the creation of cutting-edge communication and networking infrastructure. However, one of the challenges restricting the industry is the paucity of skill sets needed to create and deploy digital technologies, as well as the strict restrictions of the ICT sector.

Among the use, cases are Governance, Risk, and Compliance (GRC), IT transformation, and Data Privacy & Governance.

Digital Transformation Market Report Scope:

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Regional Analysis:

North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Spain, Norway, Benelux, and Italy), Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines), the Middle East and Africa (Saudi Arabia, Israel, Turkey, and South Africa), and South America have all had their markets for digital transformation geographically analysed (Brazil, Peru, Chile, and Argentina).

At the moment, North America controls the global digital transformation market. The market is currently being led by the US and Canada. The US has a sophisticated economy, well-established infrastructure, and a large pool of skilled professionals, which are some of the main elements influencing the country’s digital transformation market. Furthermore, the important US markets for digital transformation include BFSI, communications, retail, and government.

In terms of market share, Europe holds the second-highest position in the worldwide market for digital transformation. Businesses are embracing digital technologies like cloud computing, AI, and IoT significantly to optimise their corporate processes and production facilities, among other countries like the UK, Germany, Spain, and Norway.

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The global digital transformation market is anticipated to expand at the quickest CAGR in the Asia-Pacific region. The need for cloud-based and AI-enabled solutions has increased as a result of the increasing acceptance of cloud-based services and national government efforts encouraging digitization. Furthermore, the expansion of the market is being aided by the increasing number of SMEs in the region who choose cloud-based services.

Market Segmentation:

The market has been divided into categories based on technology, including blockchain, big data analytics, cloud computing, artificial intelligence (AI), and the internet of things (IoT). The market has been divided into on-premise and on-cloud deployment categories. The market has been divided into small- and medium-sized businesses and large businesses according to organisation size. The market has been divided into several different verticals, including BFSI, healthcare, IT and telecommunication, government, retail, education, and media & entertainment.

The major key players– in digital transformation are IBM Corporation (US), Microsoft Corporation (US), SAP SE (Germany), Google (US), Dell EMC (US), Accenture Plc (Ireland), Cisco Systems, Inc. (US), Oracle Corporation (US), Tibco Software Inc (US), Hewlett Packard Enterprise (US), Cognizant (US), Marlabs (US), Equinix Inc. (US), CA Technologies (US), Rockwell Automation Inc. (US), Salesforce.com, Inc. (US) and HCL Technologies (India) as some of the key players in the Global Digital Transformation market.

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