New York, April 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Digital Transformation Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028" - https://www.reportlinker.com/p06450664/?utm_source=GNW
The global digital transformation market is expected to thrive during the forecast period 2023-2028.With rising internet penetration, businesses are using digital technology to expand their geographic footprint and customer base.
The latest technologies include interactive chatbots, cloud computing, and blockchain technology to help businesses track target customers and increase customer retention.Moreover, the increasing use of cloud-based platforms is driving the demand for cloud-based software solutions and services among SMEs due to their advantages, such as flexibility and mobility.
Cloud-based business software services include data backup, data security, and system upgrades.
Digital transformation across industries addresses several global issues within industries, including companies modernizing their supply chains, data-driven planning, and helping companies gain a competitive advantage over their competitors.Through the software, digital transformation enables businesses to enhance their brand presence, customer experience, and customer retention rates.
Organizations are gradually implementing digitalization to succeed in the rapidly changing technology world and address abrupt changes in the sector.
Internet Of Things Development
IoT is fueling the expansion of digital transformation across sectors.To increase productivity and decrease downtime, it transforms how industries approach the increasingly complex systems and machines they use.
Smart industrial automation, also known as Industry 4.0 and IoT is a new technical technique for creating, managing, and controlling the entire logistical chain. IoT integration is considerably growing in popularity since it offers outstanding advantages. Manufacturing organizations can benefit from real-time warnings and information provided by IoT. This may reduce operational time while also improving productivity and efficiency. IoT implementation is expected to increase during the forecast period owing to favorable market trends and its growing use across numerous industries. Moreover, IoT technology is one of the most significant technological advancements for digital transformation that can potentially change their sector. IoT has grown to play a significant role in the digital transformation of the public sector, including new initiatives and ongoing city transformation to keep up with the rapid pace of the digital era.
Digitizing Enterprise Business Functions
Advanced technologies such as cloud, IoT, big data and analytics, mobility, and social media are driving innovation and changing the business landscape, leading to increased revenue.Digital transformation is about introducing digital technology into your business processes to change how you use technology and resources to deliver better value to your customers.
Companies worldwide are accelerating their digital transformation through migration to the cloud, modernization of legacy IT infrastructure, IoT, and more. For example, major cloud providers such as Microsoft Azure, Google Cloud, and Amazon Web Services (AWS) are investing billions of dollars in upgrading their cloud infrastructure to improve redundancy and security and expanding business functionality.
Market Segmentation
Global Digital Transformation Market is segmented on the basis of technology, end-use, and deployment.Based on technology, the market is segmented into data analytics, cloud computing, AI, IoT, and blockchain.
Based on deployment, the market is bifurcated into the cloud, and on-premises. Based on end use, the market is split into healthcare, government, BFSI, retail, manufacturing, telecom & IT, and others.
Growing Need For Industrial Automation:
Companies in the market are also expanding their offerings by adding new features to automation lifecycle management, workload management, credential management, SLA-based automation, Citrix Automation, and new data APIs.Such improvements will attract new industries seeking more advanced operational and security capabilities.
Hence driving the growth in the market.
Market player
Major market players in the global digital transformation market are Amazon Web Services, Oracle Corporation, Microsoft Corporation, VMware, Inc., SAP SE, IBM Corporation, Salesforce.com Inc., HCL Technologies Limited, Wipro Limited, and Accenture plc.
Recent Development
• In September 2021, SAP SE introduced "Rise with SAP," a digital product that would make it possible for businesses and customers to use technology for digital transformation. It is a collection of subscription services that combines a number of services and product offers.
• In October 2018, a prominent provider of digital solutions, Oracle Corporation, purchased the California-based artificial intelligence firm DataFox Intelligence, Inc. Oracle will provide businesses with AI-based enterprise data management into cloud apps as a result of this acquisition.
Report Scope:
In this report, the Global Digital Transformation Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Digital Transformation Market, By Technology:
o Data Analytics
o Cloud Computing
o AI
o IoT
o Block Chain
• Digital Transformation Market, By End Use:
o Healthcare
o Government
o BFSI
o Retail
o Manufacturing
o Telecom & IT
o Others
• Digital Transformation Market, By Deployment:
o Cloud
o On-premises
• Digital Transformation Market, By Region:
o North America
United States
Canada
Mexico
o Asia-Pacific
India
Japan
South Korea
Australia
Singapore
Malaysia
o Europe
Germany
United Kingdom
France
Russia
Spain
Belgium
Italy
o South America
Brazil
Argentina
Colombia
Peru
Chile
o Middle East
Saudi Arabia
South Africa
UAE
Israel
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Digital Transformation market.
Available Customizations:
Global Digital Transformation market report with the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06450664/?utm_source=GNW
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