Global demand for digital transformation was predicted to reach USD 1.91 trillion in 2022. By 2030, the market is expected to grow by USD 8.92 trillion, expanding from USD 2.27 trillion in 2023 at a CAGR of 21.6%.
Players in the field of digital transformation are taken into account, including Alphabet LLC, Oracle Corporation, SAP SE, Salesforce, Inc., and others. These market players provide a wide range of products and services, including software and technologies like artificial intelligence (AI), cloud computing, machine learning, the Internet of Things, and others. Digital transformation is the process of integrating cutting-edge digital technologies into business operations that benefit customers, like cloud computing and artificial intelligence.
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Information about the report:
- Forecast Timeframe: 2023–2030
- The starting year is 2022.
- Market size in 2023: USD 2.27 trillion
- The market size in 2030 will be USD 8.92 trillion.
- CAGR: 21.6%
- Segments Included: according to deployment type, application, enterprise type, sector, and geographic region
Analyses of the worldwide Digital Transformation Market are conducted across regions, end-user industries, and material types. The study includes a thorough examination of segments and their sub-segments with the aid of tabular and graphic depictions. The segmentation can help investors and market participants create plans based on the report's list of the segments with the highest revenue growth rates.
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Given that they carry out a number of crucial tasks in industries, industrial robots are anticipated to be a crucial component of these systems. Manufacturers are using robots of all kinds to complete repetitive tasks, which is growing the market.
By Technology Analysis,
Based on technology, the market is divided into categories such as blockchain, business intelligence, cybersecurity, cloud computing, big data analytics, and the Internet of Things.
The market for cloud-based digital transformation is anticipated to grow as a result of rising IoT device adoption and an increase in data volume IoT equipment produces a ton of data, which necessitates more storage space. For storage, The International Energy Agency (IEA) estimates that 42.62 billion IoT devices, sensors, and actuators will be installed worldwide by 2022. By 2025, a significant increase over the projected values for 2021 and 2020—35.82 billion and 30.73 billion, respectively—is anticipated, reaching 75.44 billion.
According to the Deployment analysis,
The market is divided into on-premise and cloud-based on-deployment.
In 2021, the global market was dominated by the on-premises segment. On-premise deployment was initially preferred by businesses all over the world for digital solutions due to its security and customization capabilities.
During the forecast period, the cloud segment is anticipated to grow at the highest CAGR. Growth in the cloud computing market is driven by increasing investments in cloud infrastructure and quick migration of business workloads from on-premises to the cloud.
By Region, Geographically, The market is studied across North America, South America, Europe, the Middle East Africa, and Asia Pacific.
Players in the industry,
Leading companies involved in digital transformation, including Amazon.com, Inc., Alphabet LLC, Hewlett Packard Enterprise Development LP, Oracle Corporation, Microsoft Corporation, and others, are concentrating on providing cutting-edge solutions based on digital technology. Due to growing consumer demand, these players intend to increase the variety of their products. Major players in the market are implementing a variety of business strategies, including alliances, mergers, and collaborations, to expand their operations around the world.
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