Digital Transformation Market to Hit USD 2738 Billion by 2030 due to Increasing Emphasis on Data-Driven Insights | Research by SNS Insider

As per SNS Insider analysis, rapid advancements in technology, such as artificial intelligence (AI), Internet of Things (IoT), cloud computing, and big data analytics, are major drivers of digital transformation.

Pune, June 15, 2023 (GLOBE NEWSWIRE) -- “According to a report from SNS Insider, the Digital Transformation Market had a valuation of USD 596 billion in 2022. The report predicts that the market is projected to reach USD 2738 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 21% during the forecast period of 2023-2030.”

Market Overview

Digital transformation refers to the integration of digital technologies into various aspects of an organization's operations, processes, and strategies to fundamentally change how it operates and delivers value to its customers. It involves leveraging technology to optimize business processes, enhance customer experiences, improve efficiency, and drive innovation.

Market Analysis

The digital transformation market is driven by a combination of technological advancements, changing customer expectations, competitive pressures, evolving business models, operational efficiency, data-driven insights, regulatory requirements, employee empowerment, business resilience, and sustainability. By leveraging these drivers, organizations can unlock new opportunities, drive innovation, and thrive in the digital age.

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Key Company Profiles Listed in this Report Are:

  • IBM Corporation
  • Salesforce, Inc
  • Microsoft Corporation
  • Apple, Inc
  • SAP SE
  • Adobe
  • Yash Technologies
  • Alibaba
  •, Inc
  • Cisco Systems, Inc & Others

Impact of Recession on Digital Transformation Market Growth

While recessions pose challenges for the digital transformation market, they also present opportunities for businesses to rethink their strategies, optimize costs, and embrace agility. Although some organizations may delay their digital transformation efforts due to financial constraints, others may view digitalization as a crucial survival strategy.

Impact of Russia-Ukraine War

The Russia-Ukraine war has had a multifaceted impact on the digital transformation market. While it has disrupted supply chains and investment patterns, it has also heightened cybersecurity concerns and led to changes in digital policies. However, it has also created opportunities for increased demand, collaboration, and innovation.

Digital Transformation Market Report Scope:

Report Attributes Details
Market Size in 2022  US$ 596 Bn
Market Size by 2030  US$ 2738 Bn
CAGR   CAGR of 21% From 2023 to 2030
Base Year  2022
Forecast Period  2023-2030
Historical Data  2020-2021
Digital Transformation Market: Key Segmentation • By Technology (Cloud Computing, Big Data and Analytics, Cybersecurity, Artificial Intelligence (AI), Internet of Things (IoT), Blockchain)
• By Enterprise Type (Large Enterprises, Small & Medium Enterprises (SMEs))
• By Deployment (On-Premise, Cloud)
• By Industry (Manufacturing, Banking, Healthcare, Government, Transportation, Others)
Key Regional Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)

Impact of COVID-19 Pandemic

The COVID-19 pandemic has undoubtedly left an indelible mark on the digital transformation market. The crisis served as a wake-up call for businesses, urging them to accelerate their digital strategies and embrace innovative technologies. The demand for digital transformation solutions skyrocketed as companies sought to ensure business continuity, adapt to remote work models, and cater to changing consumer behaviors.

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Key Regional Developments

Among the region’s leading this transformative shift, North America stands out as a dominant force in the digital transformation market. With its robust technological infrastructure, innovative mindset, and supportive ecosystem, North America is poised to lead the way in shaping the future of digital transformation. North America boasts a highly advanced technological infrastructure, providing a solid foundation for digital transformation initiatives.

Key Takeaway from Digital Transformation Market Study

  • The cloud computing segment is set to maintain its dominance in the market, empowering businesses to thrive in the ever-evolving digital landscape. Organizations leveraging cloud computing gain a competitive edge by rapidly adapting to market dynamics, optimizing costs, fostering collaboration, and unlocking the power of data analytics.
  • Within the global landscape, large enterprises are poised to dominate the market, leveraging their resources, scale, and strategic vision to drive transformative change. Large enterprises have the advantage of significant financial resources, enabling them to invest in cutting-edge technologies and digital initiatives.

Recent Developments Related to Digital Transformation Market

  • Qualcomm, the renowned technology company known for its cutting-edge solutions, has recently introduced an exceptional video collaboration platform suite. This comprehensive suite aims to revolutionize the digital landscape by enabling seamless digital transformation in both homes and enterprises.
  • LzLabs GmbH, a leading software company specializing in mainframe modernization, and Huawei, a global technology leader, have joined forces to introduce the Core Joint Collaboration Initiative. This groundbreaking collaboration aims to support organizations worldwide in their digital transformation journeys by providing innovative solutions and services.

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Table of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global Digital Transformation Market Segmentation, by Technology

9. Global Digital Transformation Market Segmentation, by Enterprise Type

10. Global Digital Transformation Market Segmentation, by Deployment

11. Global Digital Transformation Market Segmentation, by Industry

12. Regional Analysis

13. Company profile

14. Competitive Landscape

15. Used Cases and Best Practices

16. Conclusion

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SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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