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Digital Transformation Market by Technology (Cloud Computing, Big Data & Analytics, Mobility/Social Media, Cybersecurity, Artificial Intelligence), Deployment type, Business Function, Vertical (Retail, Education), Region - Global Forecast to 2023

  • ID: 4763835
  • Report
  • Region: Global
  • 163 Pages
  • Markets and Markets
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Digitizing Organizational Business Functions to Serve Changing Customer Preferences and Enhance Operational Efficiency, the Rapid Proliferation of Mobile Devices and Apps, and Increasing Penetration of IoT and Cloud Services are Driving the Market

FEATURED COMPANIES

  • Accenture
  • CA Technologies
  • Dell EMC
  • Google
  • IBM
  • Microsoft
  • MORE

Digitalizing organizational business functions to serve changing customer preferences and enhance operational efficiency, the rapid proliferation of mobile devices and apps, and increasing penetration of IoT and adoption of cloud services are some of the factors driving the market.

The digital transformation market is projected to grow from USD 290.0 billion in 2018 to USD 665.0 billion by 2023, at a CAGR of 18.1% from 2018 to 2023. Digitalizing organizational business functions to serve changing customer preferences and enhance operational efficiency, the rapid proliferation of mobile devices and apps, increasing penetration of IoT and adoption of cloud services, and the need to improve operational performance to gain competitive benefits in the market are projected to drive the growth of the market across the globe. However, security and privacy concerns for confidential data is expected to restrict the growth of the market across the globe.

Based on technology, the artificial intelligence segment is expected to lead the market during the forecast period.

The technology segment is projected to lead the digital transformation market during the forecast period. The emergence of AI has transformed how data is collected and analyzed. The technology builds data models automatically in digital forms. AI also collects data from multiple sources and uses the information as a knowledge store, which can help business in several ways, such as identify and analyze buying patterns and trends or predict needs of consumers to boost customer experience.

Based on deployment type, the cloud segment is expected to lead the digital transformation market in 2018.

The cloud segment is expected to lead the digital transformation market in 2018. The deployment of digital transformation solutions on the cloud enables users to access solutions from their desktops or any mobile devices. Key advantages of this deployment type include easy deployment, low deployment cost, and easy upgradeability and accessibility. Furthermore, it helps reduce IT budgets and financial risks, while increasing flexibility. Therefore, small organizations and individual users generally prefer cloud digital transformation solutions.

The retail vertical to lead the digital transformation market in 2018.

Retail is one of the fastest-growing verticals with respect to the adoption of emerging and innovative technologies, such as cloud computing, big data analytics, DevOps, digital stores, and social networks. Some of the factors driving this adoption are the rising purchasing power of customers and the need to satisfy customer expectations, which, in turn, lead to the retention of existing customers and new customer acquisitions. Presently, retailers use the web, e-commerce, and various applications to retain and attract their customers digitally. Digital transformation requires seamless integration of customer services, merchandising, pricing, inventory, and supply chain processes to enable shoppers to save time and maximize convenience.

The Asia Pacific (APAC) digital transformation market is projected to grow at the highest CAGR during the forecast period

The APAC digital transformation market is projected to grow at the highest CAGR during the forecast period. This growth is primarily driven by the high rate of adoption of digital technologies, especially in economies such as Australia, India, China, Japan, and Singapore. Digital transformation solutions are being adopted by companies to improve and streamline business processes and facilitate informed business decision-making. Companies across verticals are taking initiatives to upsurge their IT infrastructure, thus leading to the adoption of cutting-edge technologies by these companies as well as their customers. The rising number of mobile device users, increasing the use of social media analytics, and growing online commerce are some of the factors expected to fuel the growth of the digital transformation market in the region.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the digital transformation market.

  • By Company Type: Tier 1 - 52%, Tier 2 - 31%, and Tier 3 - 17%
  • By Designation: C-level - 36%, Directors - 24%, and Others - 40%
  • By Region: North America - 30%, Europe - 24%, Asia Pacific - 36%, MEA - 5%, and Latin America - 5%

Major vendors of digital transformation solutions and services include IBM Corporation (US), Microsoft Corporation (US), SAP (Germany), Dell EMC (US), Google (US), Accenture PLC (Ireland), CA Technologies (US), Cognizant (US), Adobe Systems (US), Oracle Corporation (US), Hewlett Packard Enterprise (US), HCL Technologies (India), TIBCO Software (US), Marlabs (US), and Equinix (US). The study included an in-depth competitive analysis of these key players with their company profiles, recent developments, and key growth strategies adopted by them.

Research Coverage
The market study covers the digital transformation market across different segments. It aims at estimating the market size and the growth potential of this market across different segments based on technology, business function, deployment type, vertical, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall digital transformation market and its segments. This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.

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FEATURED COMPANIES

  • Accenture
  • CA Technologies
  • Dell EMC
  • Google
  • IBM
  • Microsoft
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Top-Down Approach
2.2.2 Bottom-Up Approach
2.3 Market Forecast
2.4 Research Assumptions
2.5 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Digital Transformation Market
4.2 Market in North America, By Technology and Country
4.3 Market Major Countries

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Digitalizing Organizational Business Functions to Serve Changing Customer Preferences and Enhance Operational Efficiency
5.1.1.2 Rapid Proliferation of Mobile Devices and Apps
5.1.1.3 Increasing Penetration of IoT and Adoption of Cloud Services
5.1.1.4 Need to Improve Operational Performance to Gain Competitive Benefits in the Market
5.1.2 Restraints
5.1.2.1 Security and Privacy Concerns for Confidential Data
5.1.3 Opportunities
5.1.3.1 Demand for Personalized Digital Transformation
5.1.3.2 Increasing Usage of Disruptive Technologies Such as AI, ML, and Big Data
5.1.3.3 Focus on Collaboration Among Departments
5.1.4 Challenges
5.1.4.1 Lack of Skilled Personnel
5.1.4.2 Issues Related to IT Modernization
5.2 Industry Trends
5.2.1 Introduction
5.2.2 Value Chain Analysis
5.2.3 Evolution of Digital Transformation
5.2.4 Case Studies/Use Cases
5.2.4.1 Case Study 1: American Telecommunication Service Provider (TSP) Collaborated With HCL to Refine Its Digital Journey
5.2.4.2 Case Study 2: A Leading Logistics and Shipment Provider Deployed HCL’s Digital Transformation Solution to Improve Customer Experience
5.2.4.3 Case Study 3: One of the World’s Leading Media Conglomerates Adopted HCL’s Digital Transformation Solution to Redefine User Experience Through Human-Centric Design
5.2.4.4 Case Study 4: A Leading Healthcare Company Adopted Cognizant’s AI-Driven Solution to Identify Drug-Seeking Behavior
5.2.4.5 Case Study 5: Cognizant’s AI and Automation Solution Helps an Insurance Company to Improve Insurance Claims Process

6 Digital Transformation Market, By Technology
6.1 Introduction
6.2 Cloud Computing
6.2.1 Growing Data Security, Faster Disaster Recovery (DR), and Meeting Compliance Requirements are Driving the Growth of Cloud Computing
6.3 Artificial Intelligence
6.3.1 AI Enhances the Customer Satisfaction in the Market
6.4 Big Data & Analytics
6.4.1 Rise in the Amount of Unstructured Data From Several Sources and the Need to Optimize Large Workloads of Data has Led to Various Advancements in the Big Data & Analytics Technology
6.5 Mobility/Social Media
6.5.1 Rising Security Concerns, and Proliferation of Mobile Applications Leads to Tremendous Growth of the Mobility Market
6.6 Cybersecurity
6.6.1 Growing Cyber-Attacks, Data Breaches, and Identity Thefts Have Led to the Increased Demand for Cybersecurity Technology in the Market
6.7 Internet of Things (IoT)
6.7.1 IoT-Based Technology Solutions Enable Companies to Increase the Operational Efficiency of Their Business Processes
6.8 Others

7 Market, By Deployment Type
7.1 Introduction
7.2 On-Premises
7.2.1 Increasing Adoption of Cloud Computing Solutions has Significantly Impacted the Implementation of On-Premises Digital Transformation Solutions
7.3 Cloud
7.3.1 Easy Deployment, Low Deployment Cost and Easy Upgradeability and Accessibility has Enhanced the Organizations to Deploy the Cloud

8 Digital Transformation Market, By Business Function
8.1 Introduction
8.2 Customer Transformation
8.2.1 Growing Usage of Modern Technologies Enables Organizations to Enhance Their Customer Experience
8.3 Workforce Transformation
8.3.1 Workplace Transformation Engages to Build and Sustain A Digital Culture in the Organization
8.4 Operational Transformation
8.4.1 Modernizing of Digital Technologies and Collaborated Platforms, Have Increased the Flow of Information Across Business Operations
8.5 Product Transformation
8.5.1 Digital Transformation Technologies Helps to Transform the Entire Product Transformation

9  Market, By Vertical
9.1 Introduction
9.2 BFSI
9.2.1 BFSI Vertical Uses Digital Transformation to Make Financial Transactions Speedy, Secure, Simple, and Error-Free
9.3 Healthcare
9.3.1 Digital Transformation Solution Offers Healthcare Providers Real-Time Exchange of Healthcare Information and Enhances Medical Services
9.4 IT & Telecom
9.4.1 Digital Transformation Solutions Ensure Optimum Utilization of Resources Along With Customer Satisfaction
9.5 Manufacturing
9.5.1 Requirement for Innovative Technologies to Tackle Manufacturing Problems Due to Limited IT Resources in the Manufacturing Industry
9.6 Education
9.6.1 Adoption of Internet and Bring Your Own Device (BYOD) Trend Have Spurred Implementation of Digital Transformation Solutions in Education Industry
9.7 Retail
9.7.1 Retail Vertical Uses Emerging and Innovative Technologies to Enhance Customer Experience
9.8 Media & Entertainment
9.8.1 Increasing Penetration of Mobile Technology and Internet of Things Supports Increased Deployment of Digital Transformation in Media & Entertainment Vertical
9.9 Government
9.9.1 Digital Transformation Helps Government Agencies Introduce Paperless Processes and Save Process Time
9.10 Others

10 Digital Transformation Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Wide Adoption of Recent Technologies By Enterprises Driving the Growth of the Market in the US
10.2.2 Canada
10.2.2.1 High Rate of Cloud Adoption and Availability of Skilled Workforce Fueling the Growth of the Market in Canada
10.3 Europe
10.3.1 UK
10.3.1.1 Growing Adoption of Cloud & Mobile Technologies to Drive the Growth of the Market in the UK
10.3.2 Germany
10.3.2.1 Emergence of Industry 4.0 and Presence of Cloud Providers Lead to the Growth of the Market in Germany
10.3.3 France
10.3.3.1 Increasing Spending on the Cloud and Growing Adoption of Mobile Devices Have Spurred the Growth of the Market in France
10.3.4 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Huge Investments From Private Sectors and Availability of Large Young Population Contribute to the Growth of the China Market
10.4.2 India
10.4.2.1 Government Initiatives and Well-Established Cloud Infrastructure Support the Adoption of Digital Transformation in India
10.4.3 Japan
10.4.3.1 Advanced and Developed Cloud Infrastructures Fueling the Growth of the Market in Japan
10.4.4 Rest of Asia Pacific
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.1.1 Availability of Cloud Infrastructure and New Government Initiatives Expected to Support Adoption of Digital Transformation in Saudi Arabia
10.5.2 United Arab Emirates (UAE)
10.5.2.1 Economic Growth Expected to Lead to the Adoption of Digital Transformation in the UAE
10.5.3 South Africa
10.5.3.1 High Investments in Cloud Computing and the Internet to Grow of the Market in South Africa
10.5.4 Rest of Middle East & Africa
10.6 Latin America
10.6.1 Brazil
10.6.1.1 Increasing Adoption of Cloud and Advanced Technologies By Enterprises is Driving the Growth of the Market in Brazil
10.6.2 Mexico
10.6.2.1 Government Initiatives to Encourage Internet Connectivity are Fueling the Growth of the Market in Mexico
10.6.3 Rest of Latin America

11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.1.1 Visionary Leaders
11.1.2 Innovators
11.1.3 Dynamic Differentiators
11.1.4 Emerging Companies
11.2 Strength of Product Portfolio
11.3 Business Strategy Excellence
11.4 Competitive Leadership Mapping (Startup)
11.4.1 Progressive Companies
11.4.2 Starting Blocks
11.4.3 Responsive Companies
11.4.4 Dynamic Companies
11.5 Market Ranking for the Digital Transformation Market, 2018

12 Company Profiles
12.1 IBM
12.2 Microsoft
12.3 SAP
12.4 Dell EMC
12.5 Google
12.6 Marlabs
12.7 Accenture
12.8 CA Technologies
12.9 Equinix
12.10 Cognizant
12.11 Adobe Systems
12.12 Oracle Corporation
12.13 Hewlett Packard Enterprise
12.14 HCL Technologies
12.15 TIBCO Software

13 Appendix
13.1 Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

List of Tables
Table 1 Factor Analysis
Table 2 Digital Transformation Market Size, By Technology, 2016–2023 (USD Billion)
Table 3 Cloud Computing: Market Size By Region, 2016–2023 (USD Billion)
Table 4 Artificial Intelligence: Market Size By Region, 2016–2023 (USD Billion)
Table 5 Big Data & Analytics: Market Size By Region, 2016–2023 (USD Billion)
Table 6 Mobility/Social Media: Market Size By Region, 2016–2023 (USD Billion)
Table 7 Cybersecurity: Market Size By Region, 2016–2023 (USD Billion)
Table 8 IoT: Market Size By Region, 2016–2023 (USD Billion)
Table 9 Others: Market Size By Region, 2016–2023 (USD Billion)
Table 10 Digital Transformation Market Size, By Deployment Type, 2016–2023 (USD Billion)
Table 11 On-Premises: Market Size By Region, 2016–2023 (USD Billion)
Table 12 Cloud: Market Size By Region, 2016–2023 (USD Billion)
Table 13 Digital Transformation Market Size, By Vertical, 2016–2023 (USD Billion)
Table 14 BFSI: Market Size By Region, 2016–2023 (USD Billion)
Table 15 Healthcare: Market Size By Region, 2016–2023 (USD Billion)
Table 16 IT & Telecom: Market Size By Region, 2016–2023 (USD Billion)
Table 17 Manufacturing: Market Size By Region, 2016–2023 (USD Billion)
Table 18 Education: Market Size By Region, 2016–2023 (USD Billion)
Table 19 Retail: Market Size By Region, 2016–2023 (USD Billion)
Table 20 Media & Entertainment: Market Size By Region, 2016–2023 (USD Billion)
Table 21 Government: Market Size By Region, 2016–2023 (USD Billion)
Table 22 Others: Market Size By Region, 2016–2023 (USD Billion)
Table 23 Digital Transformation Market Size, By Region, 2016–2023 (USD Billion)
Table 24 North America: Market Size By Country, 2016–2023 (USD Billion)
Table 25 North America: Market Size By Technology, 2016–2023 (USD Billion)
Table 26 North America: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 27 North America: Market Size By Vertical, 2016–2023 (USD Billion)
Table 28 Europe: Digital Transformation Market Size, By Country, 2016–2023 (USD Billion)
Table 29 Europe: Market Size By Technology, 2016–2023 (USD Billion)
Table 30 Europe: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 31 Europe: Market Size By Vertical, 2016–2023 (USD Billion)
Table 32 Asia Pacific: Digital Transformation Market Size, By Country, 2016–2023 (USD Billion)
Table 33 Asia Pacific: Market Size By Technology, 2016–2023 (USD Billion)
Table 34 Asia Pacific: Market Size By Deployment Type, “ 2016–2023 (USD Billion)
Table 35 Asia Pacific: Market Size By Vertical, 2016–2023 (USD Billion)
Table 36 Middle East & Africa: Digital Transformation Market Size, By Country, 2016–2023 (USD Billion)
Table 37 Middle East & Africa: Market Size By Technology, 2016–2023 (USD Billion)
Table 38 Middle East & Africa: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 39 Middle East & Africa: Market Size By Vertical, 2016–2023 (USD Billion)
Table 40 Latin America: Digital Transformation Market Size, By Country, 2016–2023 (USD Billion)
Table 41 Latin America: Market Size By Technology, 2016–2023 (USD Billion)
Table 42 Latin America: Market Size By Deployment Type, 2016–2023 (USD Billion)
Table 43 Latin America: Market Size By Vertical, 2016–2023 (USD Billion)

List of Figures
Figure 1 Market Segmentation
Figure 2 Regional Scope
Figure 3 Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Market Top-Down and Bottom-Up Approaches
Figure 7 Digital Transformation Market Size, 2018-2023
Figure 8 Based on Technology, the Cloud Computing Segment is Estimated to Lead the Market in 2018
Figure 9 Based on Deployment Type, the Cloud Segment is Estimated to Account for Larger Market Share in 2018, Compared to On-Premises Segment
Figure 10 Based on Vertical, the Retail Segment is Estimated to Lead the Market in 2018
Figure 11 Based on Region, the North America is Estimated to Lead the Market in 2018
Figure 12 Demand for Personalized Digital Transformation to Drive Market Growth During the Forecast Period
Figure 13 Cloud Computing and the US Estimated to Account for the Largest Share of the North America Market in 2018
Figure 14 India Projected to Grow at the Fastest Rate During the Forecast Period
Figure 15 Drivers, Restraints, Opportunities, and Challenges
Figure 16 Value Chain Analysis of the Market
Figure 17 Evolution of Digital Transformation as A Business Strategy
Figure 18 Artificial Intelligence Segment of the Market to Grow at the Highest Rate During the Forecast Period
Figure 19 Cloud Segment Estimated to Lead the Digital Transformation Market in 2018
Figure 20 Market, By Business Function
Figure 21 Retail Vertical Segment Estimated to Lead the Digital Transformation Market in 2018
Figure 22 North America to Lead the Market From 2018 to 2023
Figure 23 Asia Pacific Market Projected to Grow at the Highest CAGR From 2018 to 2023
Figure 24 North America Market Snapshot
Figure 25 Asia Pacific Market Snapshot
Figure 26 Digital Transformation Market (Global) Competitive Leadership Mapping, 2018
Figure 27 Market (Startup) Competitive Leadership Mapping, 2018
Figure 28 Market Ranking, 2018
Figure 29 IBM: Company Snapshot
Figure 30 Microsoft: Company Snapshot
Figure 31 Microsoft: SWOT Analysis
Figure 32 SAP: Company Snapshot
Figure 33 SAP: SWOT Analysis
Figure 34 Dell EMC: SWOT Analysis
Figure 35 Google: Company Snapshot
Figure 36 Accenture: Company Snapshot
Figure 37 Equinix: Company Snapshot
Figure 38 Cognizant: Company Snapshot
Figure 39 Cognizant: SWOT Analysis
Figure 40 Adobe Systems: Company Snapshot
Figure 41 Adobe Systems: SWOT Analysis
Figure 42 Oracle Corporation: Company Snapshot
Figure 43 Hewlett Packard Enterprise: Company Snapshot
Figure 44 HCL Technologies: Company Snapshot

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  • Accenture
  • Adobe Systems
  • CA Technologies
  • Cognizant
  • Dell EMC
  • Equinix
  • Google
  • HCL Technologies
  • Hewlett Packard Enterprise
  • IBM
  • Marlabs
  • Microsoft
  • Oracle Corporation
  • SAP
  • TIBCO Software
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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