Digital Transformation Market By Technology, By Deployment model, By Organization size, By Industry vertical, Healthcare, IT and telecom, Education, Retail, Media and Entertainment, Manufacturing, Government and others), and Geography
Digital Transformation Market size valued at US$ 682.15 billion in 2023 and expected to reach US$ 1986.82 billion by 2030, at a CAGR of 16.6% during the forecast period 2024-2030. The growth of the global market for digital transformation is mainly driven by factors such as ever-growing internet users & smart devices, rising technological advances, and digitization initiatives by the government. In addition, untapped opportunities to boost sales performance, customer demand to streamline business processes, and take advantage of consumer trends are also leading to the growth of the global market for digital transformation. However, the greatest hindrance to business growth is the high cost of change and the lack of infrastructure.
The use of linked devices, as well as data-rich and analytics solutions, is driving the adoption of advanced technologies, such as the Internet of Things (IoT), Cyber security throughout corporations and enterprises. Furthermore, these solutions allow for the integration of digital intelligence into corporate operations and procedures, resulting in better and more successful customer engagements as well as operational optimization. The growing use of mobile devices, smartphones, and apps across business processes and departments is driving digitization and is likely to drive the market throughout the forecast period. Shifting from traditional to digital business models allows more advanced technological products and services to be introduced across businesses and sectors.
Study Period
2024-2030Base Year
2023CAGR
16.6%Largest Market
North AmericaFastest Growing Market
Asia Pacific
People now expect more personalized, linked encounters with the government in the modern world, which makes the task of digital transformation even more important. The use of digital government channels allows leaders to achieve established goals in line with the effectiveness of serving people. Digital payments (BHIM), AADHAAR and direct benefit transfer, e-education (SWAYAM), e-health, digital farming, and digitization of internal law enforcement agencies , for example, are government initiatives in India that facilitate digital transformation in the country, among others.
In addition, by creating co-creation sites for access to more than 3,000 government datasets and launching more than 110 mobile applications for its people, the Singapore government is also undertaking initiatives. One of the main factors expected to drive the growth of the global digital transformation in the coming years is government inclination to adopt technologies & policies supporting digitization, especially in developing countries.
The Digital Transformation Market research report gives a comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The largest market share in the global market for digital transformation is expected to be held by North America. Due to growing investments in the digitalization phase across potential economies, the region is becoming a new hotspot in the digital transformation industry. North America is a highly transparent market place. Companies indispensable requirements to turn their conventional business operations into digital and the rapid adoption of mobile devices, IoT solutions and cloud technologies have led to the increasing adoption in this area of digital transformation solutions.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 682.15 billion |
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Market Size in 2030 |
US$ 1986.82 billion |
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Market CAGR |
16.6% |
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By Technology |
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By Deployment Model |
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By Organization Size |
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By Industry vertical |
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Digital transformation market size was valued at US$ 682.15 billion in 2023 and is set to reach US$ 1986.82 billion by 2030, at a CAGR of 16.6% from 2024-2030
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Key Market Players
Author
Sravani is a proficient Business Analyst with an MBA and a background in Computer Science, with seven years of experience in the field of market research. Sravani is adept at creating competitive evaluations, precise market estimations, and market projections, emphasizing the food and beverage and information and communication technology (ICT) industries. Her areas of competence are identifying important players, projecting market trends, and assessing the potential for industry growth. She applies a strong analytical approach to provide precise market estimates and thorough industry analysis, empowering organizations to make data-driven decisions. Sravani's estimating and forecasting abilities are essential for businesses to take advantage of new opportunities and effectively manage dynamic market environments.
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