- June 2019 |
- Information and Communication Technology (ICT) / Digitalization & Internet Of Things (IOT)
Global Digital Transformation Market Size, By Technology (Cloud Computing, Big Data & Analytics, Mobility/Social Media, Cybersecurity and Artificial Intelligence), By Deployment (Hosted and On-premise), By Enterprise Size (Large Enterprise and Small & Medium Enterprise), By End-User Industry (BFSI, Telecom, Healthcare, Utility, Retail, Automotive, ICT, and Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Growth Potential, Trends Analysis, Competitive Market Size and Forecast, 2015-2025
Global Digital Transformation Market: Overview
The Global Digital Transformation Market is anticipated to grow at a significant rate, during the forecast period 2019-2025. Digital transformation is the method of using digital technologies to generate new or alter existing business processes, crocesses, culture, and customer proficiencies to meet changing business and market necessities. This reconceptualize of business in the digital age is digital transformation. Digital transformation aids an establishment to compete well in an economic landscape that's persistently changing as technology advances. The growth in penetration of IoT-based products and devices in day to day life, increase in the usage of mobile devices and apps, and rise in dependency of business on IoT based products and solutions are vital factors anticipated to encourage the growth of the digital transformation market in the upcoming period.
With the advent of AI, machine learning and rapid deployment of IoT & connected infrastructure will contribute to the growth of the Digital Transformation market. In addition, digitalizing organizational business functions to serve changing customer preferences and enhance operational efficiency coupled with increasing penetration of IoT and adoption of cloud services, are other factors estimated to accelerate the growth of the market in the upcoming years.
Additionally, an upsurge in applications of digital transformation in business organizations for mitigating risks and handling disruption such as marketplace fluctuation, corporate restructuring, and geopolitical environment that are unanticipated, that can lead to the unpredictable result. Furthermore, growing adoption of Digital Transformation by many organizations in streamlining their operations to save time, efforts, and money by replacing traditional processes with automation is expected to escalate the global digital transformation in upcoming years.
Digital Transformation Market Technology analysis
On the basis of Technology, the Digital Transformation market has been segmented into Cloud Computing, Big Data & Analytics, Mobility/Social Media, Cybersecurity and Artificial Intelligence. Artificial Intelligence segment is projected to dominate the global Digital Transformation Market owing to its application like builds data models automatically in digital forms. Cloud Computing will boom its features like with cost-efficient, as this solution can be deployed even with a basic on-premises IT infrastructure.
Digital Transformation Market Deployment Analysis
On the basis of Deployment, the Digital Transformation market has been categorized into Hosted and On-premise. The hosted segment will lead the market owing to its features like increased flexibility and enables large-scale customization of products and...