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Digital Transformation Market Size Worth $1,759.4 Billion By 2028

Published On: July 7, 2021

The global digital transformation market is estimated to arrive at USD 1759.4 billion by 2028. It is projected to develop by 23.6% CAGR in the period of the forecast.

The growing implementation of the sophisticated technologies, like machine learning and the Internet of Things (IoT), through a number of businesses, is cheering companies to put into their practice data-rich, connected, and investigative resolutions, by means of digital transformation.

These solutions are competent to summarize cleverness into the business processes, to initiate additionally efficient and enhanced customer activities. Besides, the rising use of the smart phones, mobile apparatuses, as well as their relevance for the business purpose is gradually more, encouraging the digitization.

The speedy urban development and the digitization through the world are making it possible the businesses to accept the digital revolution, by means of the technology aggravated resolutions.

The rising use of cloud technology, via a variety of Small & Medium Enterprises (SMEs), assists them to take on the contemporary Digital Experience Platforms (DXP) on affordable prices, with no substitution or the continuous up gradation of the technique.

This is expected to impel the digital transformation market, throughout the forecast period. Besides, the benefits, like enhancement in the operational suppleness, in addition to in general customer experience, are the factors pushing the projects for the digital transformation through small & medium enterprises (SMEs), which is powering the market.

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Further key findings from the report suggest:

• As a result of the rising infiltration of sophisticated technologies, Asia Pacific is expected to be the speedily developing regional market for digital transformation, during the forecast period.

• The healthcare sector is expected to record the highest, above 24.0% CAGR, during the forecast period, in terms of the end use.

• The hosted deployment sector is estimated to add impetus, during the forecast period, due to the advantages like enhanced protection, expediency, suppleness, as well as lesser price.

• Attributable to the substantial growth in the utilization of mobile technology through a number of businesses, in addition to the consequent change in the manner the subject matter is consumed by means of social media platforms; the solution sector is anticipated to attain the biggest share by 2028.

• The increasing execution of digital development as well as the technologies, like AI powered medicinal devices, block chain, Electronic Health Records (EHRs), and telemedicine, is facilitating healthcare suppliers to make better patient care.

• By reason of the augmented spotlight of the large-scale firms on enhancing production as well as proficiency of the workforces by means of utilizing the resolutions of digital transformation, large enterprises are estimated to be the biggest enterprise size division.

• The growing execution of the digital transformation solutions, through businesses as well as the verticals, is propelling the demand for maintenance and support services. This is anticipated to increase the order for professional services, during the forecast period.

Million Insights segmented the global digital transformation market based on End Use, Enterprise Size, Deployment, Type, and Region.

Digital Transformation Type Outlook (Revenue, USD Billion, 2016 - 2028)
    • Solution
        • Analytics
        • Cloud Computing
        • Mobility
        • Social Media
        • Others
    • Service
        • Professional Services
        • Implementation & Integration

Digital Transformation Deployment Outlook (Revenue, USD Billion, 2016 - 2028)
    • Hosted
    • On-premise

Digital Transformation Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2028)
    • Large Enterprise
    • Small & Medium Enterprise (SME)

Digital Transformation End-use Outlook (Revenue, USD Billion, 2016 - 2028)
    • BFSI
    • Healthcare
    • Government
    • IT & Telecom
    • Manufacturing
    • Retail
    • Others

Digital Transformation Regional Outlook (Revenue, USD Billion, 2016 - 2028)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa

Companies

Various companies for digital transformation market are:

    • Kellton Tech Solutions Ltd.
    • International Business Machines Corp.
    • Dell Technologies Inc.
    • ADOBE, Inc.
    • Accenture plc
    • Google, Inc.
    • Microsoft Corp.
    • Hewlett Packard Enterprise Company
    • CA Technologies (Broadcom, Inc.)
    • Apple, Inc.