Market Research Future (MRFR) shed light on different factors that are observed to regulate the Digital Transformation global Market 2020, in its report. A comprehensive analysis of consequences of COVID 19 impact on the digital transformation market is supplemented with the report. The growing advantages of digital solutions can promote the expansion of the digital transformation market in the years to come. As per MRFR study. The digital transformation market is expected to rise at 18.87% CAGR in the forecast period 2019–2025. The digital transformation market can value above USD 250.65 Bn. MRFR estimated the market value to touch USD 817.05 Billion by 2025. The high ingression of mobile devices can promote and digital transformation market. In addition, the rise in IT spending to employ digital solutions for business and development in advanced communication can support the expansion of the market through the analysis period. The availability of reputed networking infrastructure can drive the market in the years to come. On the other hand, the lack of skill set to develop robust digital technologies can hinder the expansion of the digital transformation market in years to come.
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Cisco Systems, Inc. (US), Salesforce.com, Inc. (US), IBM Corporation (US), Accenture Plc (Ireland), Microsoft Corporation (US), SAP SE (Germany), Equinix Inc. (US), Google (US), Dell EMC (US), Hewlett Packard Enterprise (US), Oracle Corporation (US), Cognizant (US), Tibco Software Inc (US), Marlabs (US), Rockwell Automation Inc. (US), CA Technologies (US), and HCL Technologies (India) are some reputed names in the digital transformation market as listed by MRFR.
The segment evaluation of the Global Digital Transformation Market is done by Deployment, Technology, Organization Size, and Vertical.
The Technology based segments of the Digital Transformation Market are big data & analytics, artificial intelligence (AI), cloud computing, blockchain, internet of things (IoT), and others.
The Deployment based segments of the Digital Transformation Market are on-premise and on-cloud.
The Organization Size based segments of the digital transformation market are small and medium-sized enterprises and large enterprises.
The Vertical based segments of the digital transformation market are IT and telecommunication, healthcare, education, government, retail¸ BFSI, and media & entertainment among others.
The digital transformation global market is studied across North America, APAC, EU, and MEA. North America digital transformation market expansion can be attributed to the early adoption of technology that can promote the expansion of the digital transformation market in the years to come. The existence of different key developers of digital transformation solution can impel the expansion of the market across the analysis period. The US can thrive with the largest share of the regional market due to the availability of highly skilled expertise Increase in research and development capabilities can promote the expansion of the digital transformation market in the region. The need to develop effective digital solutions and services in these regions can impel the expansion of the market in the analysis period.
In Europe, the digital transformation market can rise at the highest pace across the analysis period. The growing adoption of cloud-based services and solutions due to high exposure availed by industry 4.0 can prompt the expansion of the regional market through the study period. The increase in the adoption of mobile gadgets in workplaces can support the rise of digital transformation market in EU. In APAC, the rise in initiative by Governments to promote digitalization and increase in the adoption of cloud platforms across numerous organizations are observed to drive the digital transformation market in the years to come.
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