Global Digital Transformation Market By Organization Size (Small & Medium-Sized Enterprises, Large Enterprises), By Deployment Model (Cloud, On-Premises), By End User ( Retail, BFSI, Others), By Region–Forecast & Opportunities to 2026
The global digital transformation market accounted for a value of 264.8 billion in 2019. The global digital transformation market is projected to register growth at a CAGR of 14.5% during the forecast period.
COVID-19 has impacted all the businesses over the globe. The corona virus outbreak has caused lockdown across the globe due to which all the businesses has to shutdown and adopt new tradition of work from home. In order to adapt to work from home all the organizations are digitally transforming. Thus digital transformation market is expected to showcase growth during the forecast period because of COVID-19.
Definition:
The digital transformation is defined as the use of digital technologies such as social media, cloud computing, mobility and big data in order to improve the business processes within the organization. The operational activities and real time activities can be improved using digital transformation.
Market Dynamics (Drivers/Opportunities):
The technological advancement is increasing across the globe. The use of technologies such as mobility, cloud, IoT, social media big data and analytics are increasing worldwide. There is a lot of innovation transformation happened in this sector which is attributing growth in the business ecosystem. Thus, this is estimated to drive growth in this sector.
The digital technologies have now transformed and the demand for technologies such as real-time response, bid data and analytics are increasing rapidly in all the organization. Organizations have started incorporating business intelligence and big data to get real-time information, understand customer requirements, facilitate growth in productivity and gain actionable insights. This is likely to drive growth in digital transformation market.
The adoption of modern technology by various enterprises across the world has created so many opportunities in this sector. Many enterprisers have adopted digital transformation practices for smooth operations and better consumer experience. Thus, the demand for digital transformation in all enterprisers has increased rapidly which is likely to drive growth in this sector.
Market Insights, by Organization Size
On the basis of organization size, the digital transformation market is segmented into small & medium-sized enterprises (SMEs) and large enterprises. The SMEs segment is estimated to register growth at highest CAGR during the forecast period. The digital transformations have highly impacted the IT ecosystems and SMEs across the world. SMEs have realized the importance of innovative technologies such as sensors, social media, mobile, cloud and big data and they are adopting all these technologies to expand and improve their business. This is likely to drive growth in digital transformation market during the forecast period.
Market Insights, by Deployment Model
On the basis on deployment model, the digital transformation market is segmented into on-premises and cloud. The cloud deployment segment is expected to register growth at highest CAGR during the forecast period. The digital transformation solutions deployment on the cloud has enabled users to access solutions from their mobile devices or from desktops. It has many advantages such as low deployment cost, easy deployment and easy upgradeability & accessibility. All these features made it more preferred and adopted by small & large organizations along with individual users. These factors are likely to drive growth in cloud deployment segment in digital transformation market during the forecast period.
Market Insights, by End-User
On the basis of end-user, the digital transformation market is segmented into healthcare, BFSI, government, it & telecom, manufacturing, retail and others. The healthcare segment is projected to register growth at highest CAGR of XX% during the forecast period. The demand for digitization and electronic equipments is increasing across the world in healthcare services. The adoption of this electronic equipments leads to increase in work efficiency and accuracy in patience data. This growing need and demand is likely to drive growth in healthcare segment in digital transformation market during the forecast period.
Regional Insights
The Asia-Pacific region is projected to register growth at highest CAGR during the forecast period in the digital transformation market. This region is now becoming a new hotspot in the digital transformation market due to various reasons such as rising investments in this market and many digital industries are setting their foot in this region. All this factors are expected to drive growth in Asia-pacific region.
North America region is expected to hold highest market share in digital transformation market during the forecast period. This region is hub for various innovations of digital industries. There is an indispensible requirement by enterprisers to transform traditional business operation into digital operations.
Key Companies & Market Share Insights
The key market players in digital transformation market are SAP, Microsoft, Adobe, Cognizant, Dell EMC, IBM, Google, Accenture, Oracle, Equinix, Tibco software, Process Street, Scoro, Happiest Mind, Aexonic and Broadcom. All the key market players in this sector are focusing on bringing new technological innovations and technological advanced features in the market. The partnerships, mergers and collaboration are expected to take place by various industries in coming years.
Segments Covered in the Report
This report forecasts The Global Digital Transformation Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global digital transformation market report on the basis of organization size, deployment model, and end-user.
Scope of Digital Transformation
The technological advancement is increasing across the globe. The use of technologies such as mobility, cloud, IoT, social media big data and analytics are increasing worldwide. Organizations have started incorporating business intelligence and big data to get real-time information, understand customer requirements, facilitate growth in productivity and gain actionable insights. The adoption of modern technology by various enterprises across the world has created so many opportunities in this sector. These factors are expected to create huge scope in digital transformation market.
Digital Transformation Market Size & Forecast (2017-2026)
1. Research Framework
1.1. Market Definition and Product Overview
1.2. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Sources
2.2. Quantitative Research
2.2.1. Primary & Secondary Sources
2.3. Breakdown of Primary Research Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Industry Participants
2.4.1. Market Size Estimation
2.4.2. Assumption for the Study
2.4.3. Market Breakdown & Data Triangulation
3. Executive Summary
3.1. Market Snapshot
4. Industry Insights
4.1. Industry ecosystem analysis
4.1.1. Value Chain Analysis
4.2. Industry impact and forces
4.2.1. Growth Drivers
4.2.2. Challenges &Restraints
4.2.3. Opportunities
4.3. Disruptive Technological Analysis
4.4. Regulatory framework
4.4.1. North America
4.4.2. Europe
4.4.3. Asia Pacific
4.4.4. Middle East & Africa
4.5. Growth potential analysis, 2019
4.6. Porter’s Five forces analysis
4.7. Pricing Analysis
4.7.1. North America
4.7.2. Europe
4.7.3. Asia Pacific
4.7.4. Middle East & Africa
4.7.5. South America
5. COVID – Impact Analysis
5.1. North America
5.2. Europe
5.3. Asia Pacific
5.4. Middle East & Africa
5.5. South America
6. Digital Transformation Market, By Organization Size, Market Size & Forecast To 2026
(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)
6.1. Introduction
6.2. Small & Medium-Sized Enterprises (SMEs)
6.3. Large Enterprises.
7. Digital Transformation Market, By Deployment Model, Market Size & Forecast To 2026
(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)
7.1. Introduction
7.2. On-Premises
7.3. Cloud
8. Digital Transformation Market, By End User, Market Size & Forecast To 2026
(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)
8.1. Introduction
8.2. Healthcare
8.3. BFSI
8.4. Government
8.5. It & Telecom
8.6. Manufacturing
8.7. Retail
8.8. Others
9. Digital Transformation Market, By Region, Market Size & Forecast To 2026
(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)
9.1. Introduction
9.2. North America Market Size & Forecast To 2026
9.2.1. Market Overview
9.2.2. COVID-19 Impact
9.2.3. By Organization Size
9.2.4. By Deployment Model
9.2.5. By End-User
9.2.6. By Country
9.2.6.1. USA
9.2.6.1.1. By End-User
9.2.6.2. Canada
9.2.6.3. Mexico
9.3. South America Market Size & Forecast To 2026
9.3.1. Market Overview
9.3.2. COVID-19 Impact
9.3.3. By Organization Size
9.3.4. By Deployment Model
9.3.5. By End-User
9.3.6. By Country
9.3.6.1. Brazil
9.3.6.1.1. By End-User
9.3.6.2. Argentina
9.3.6.3. Chile
9.3.6.4. Rest of South America
9.4. Europe Market Size & Forecast To 2026
9.4.1. Market Overview
9.4.2. COVID-19 Impact
9.4.3. By Organization Size
9.4.4. By Deployment Model
9.4.5. By End-User
9.4.6. By Country
9.4.6.1. UK
9.4.6.1.1. By End-User
9.4.6.2. Germany
9.4.6.3. France
9.4.6.4. Italy
9.4.6.5. Rest of Europe
9.5. APAC Market Size & Forecast To 2026
9.5.1. Market Overview
9.5.2. COVID-19 Impact
9.5.3. By Organization Size
9.5.4. By Deployment Model
9.5.5. By End-User
9.5.6. By Country
9.5.6.1. China
9.5.6.1.1. By End-User
9.5.6.2. India
9.5.6.3. Japan
9.5.6.4. South Korea
9.5.6.5. Australia
9.5.6.6. Rest of APAC
9.6. Middle East & Africa Market Size & Forecast To 2026
9.6.1. Market Overview
9.6.2. COVID-19 Impact
9.6.3. By Organization Size
9.6.4. By Deployment Model
9.6.5. By End-User
9.6.6. By Country
9.6.6.1. Saudi Arabia
9.6.6.1.1. By End-User
9.6.6.2. UAE
9.6.6.3. Qatar
9.6.6.4. Kuwait
9.6.6.5. South Africa
9.6.6.6. Rest of Middle East & Africa
10. Competitive Landscaping
10.1. Competitive Benchmarking
10.1.1. Market Share Analysis, 2019
10.1.2. Global Presence and Growth Strategies
10.1.2.1. Mergers & Acquisitions
10.1.2.2. New Product Launches
10.1.2.3. Investments Trends
10.1.2.4. R&D Initiatives
11. Company Profile
11.1. Broadcom
11.1.1. Company Overview
11.1.2. Financial Overview
11.1.3. Product Portfolio
11.1.4. Recent Developments
11.1.5. SWOT Analysis
11.1.6. Strategic Outlook
11.2. SAP
11.3. Microsoft
11.4. Adobe
11.5. Cognizant
11.6. Dell EMC
11.7. IBM
11.8. Google
11.9. Accenture
11.10. Oracle
11.11. Equinix
11.12. Tibco software
11.13. Process Street
11.14. Scoro
11.15. Happiest Mind
11.16. Aexonic
12. Appendix
12.1. Interrelated Market
Research Methodology
The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.
To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.
The secondary research source that are typically referred to include, but are not limited to:
- Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
- Internal and external proprietary databases, relevant patent and regulatory databases
- National government documents, statistical databases and market reports
- News articles, press releases and web-casts specific to the companies operating in the market
The source for secondary research includes but is not limited to Factiva, Hoovers and Statista
We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:
- It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
- Helps in validating and strengthening the secondary research findings
- Further develops the analysis team’s expertise and market understanding
- Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies
The participants who typically take part in such a process include, but are not limited to:
- Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
- Purchasing managers, technical personnel, distributors and resellers
- Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
- Key opinion leaders specializing in different areas corresponding to different industry end users
Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:
- Demographic data: Population split by segment
- Macro-economic indicators: GDP, etc.
- Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.
Data is then cross checked by the expert panel.
1.4.1 Company Share Analysis Model
Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:
1.4.2 Revenue Based Modeling
Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.
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