SAN FRANCISCO, March 16, 2022 /PRNewswire/ -- The global digital transformation market size is expected to reach USD 3,810.05 billion by 2030, registering a CAGR of 23.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. The development is ascribed to the increasing need for the establishment of innovative solutions that are equipped to engage customers as well as employees to seamlessly integrate data, operations, IT, and business. Besides, the high acceptance and demand of the Internet of Things (IoT) and other evolving technologies are boosting the growth of the market.
Key Insights & Findings from the report:
- The social media segment is expected to experience a considerable CAGR of 25% over the forecast period. In recent years the use of mobile technology has exponentially increased, due to which social media has transformed and it is now favoring the market growth.
- After successfully implementing digital transformation solutions, companies will still need maintenance and support from their vendors. This is believed to raise the demand for professional services over the forecast period.
- The hosted deployment segment accounted for a market share of over 45% in 2021 and it is expected to experience the boost attributable to benefits like accessibility, reduced cost, and enhanced security.
- The growth of digital transformation is witnessed across the large enterprise segment which holds over 55% of the revenue share in 2021. It is anticipated to experience tremendous growth over the forecast period as large enterprises are concentrating on enhancing the productivity and effectiveness of employees by utilizing digital transformation solutions.
- The healthcare segment is expected to register the fastest CAGR of 24% from 2022 to 2030. This is due to high customer expectations and the rising focus of medical services providers towards making the patient journey easy by streamlining operations and correctly understanding the need of patients.
- The Asia Pacific region is expected to grow at a remarkable rate and reach USD 1,306.82 billion by 2030, such development is due to the developing interest in the utilization of the Internet of Things (IoT), predictive analytics, Artificial Intelligence (AI), and other advanced technologies in the regional market.
Request a free sample copy or view report summary: "Digital Transformation Market Size, Share & Trends Analysis Report By Solution (Analytics, Cloud Computing, Social Media, Mobility), By Service, By Deployment, By Enterprise, By End Use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Digital Transformation Market Growth & TrendsEmbracing digital transformation allows organizations to address disruptive changes in businesses such as a frequent shift in the marketplace or restructuring of the corporate framework, and others. With the help of digital transformation, organizations can better handle their customer base by leveraging digitalization and focusing on designing new products, services, or business models. These recently developed technologies are a careful blend of historical digital information about business operations and customer details. Additionally, digital transformation supports the smooth transformation of business activities, conventional processes, and existing business models and helps organizations prepare for upcoming challenges.Since the rise of digitization and globalization across the world, organizations are adapting to use technology-driven solutions to keep up with the rapid pace of business growth. Organizations are embracing cloud technology quickly as it empowers numerous start-ups and Small and Medium Enterprises (SMEs) to take on current Digital Experience Platforms (DXP) at reasonable costs without the need to continually update or remove their existing frameworks. In addition, factors such as streamlining the end-to-end customer experience process and improvement in functional adaptability are supporting the development of digital transformation alongside acknowledging the source of new revenue.Digital Transformation Market Segmentation
Grand View Research has segmented the global digital transformation market based on solution, service, deployment, enterprise size, end use, and region:
Digital Transformation Solution Outlook (Revenue, USD Billion, 2017 - 2030)
- Cloud Computing
- Social Media
Digital Transformation Service Outlook (Revenue, USD Billion, 2017 - 2030)
- Professional Services
- Implementation & Integration
Digital Transformation Deployment Outlook (Revenue, USD Million, 2017 - 2030)
Digital Transformation Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
- Large Enterprise
- Small & Medium Enterprise
Digital Transformation End-use Outlook (Revenue, USD Million, 2017 - 2030)
- IT & Telecom
Digital Transformation Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of Key Players in the Digital Transformation Market
- Accenture plc
- Apple Inc.
- Adobe Systems Incorporated
- CA Technologies
- Dell EMC
- Hewlett Packard Enterprise Co.
- International Business Machines Corporation
- Microsoft Corporation
- Kellton Tech Solutions Ltd.
- Google Inc
Check out more related studies published by Grand View Research:
- Digital Experience Platform Market - The global digital experience platform market size is estimated to reach USD 30.41 billion by 2030, registering a CAGR of 13.3% over the forecast period, according to a new report by Grand View Research, Inc. The COVID-19 pandemic prompted a critical expansion among organizations as they realized the need for digital transformation and supported new growth opportunities for the digital experience platform market.
- Contact Center Transformation Market - The global contact center transformation market size is expected to reach USD 35.19 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 14.2% over the forecast period. The contact center transformation solutions are allowing agents to efficiently up-sell and cross-sell products in addition to effectively handling a service call.
- Digital Signage Market - The global digital signage market size is predicted to attain USD 45.33 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 7.7% over the forecast period owing to increasing demand from end-use industries, which prominently include retail and healthcare.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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