DUBLIN--(BUSINESS WIRE)--The "Global Digital Transformation Market By Component, By Deployment Type, By Enterprise Size, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Transformation Market size is expected to reach $1,302.9 billion by 2027, rising at a market growth of 20.8% CAGR during the forecast period.
Companies Mentioned
- IBM Corporation
- Accenture PLC
- Hewlett Packard Enterprise Company
- HCL Technologies Ltd. (HCL Enterprises)
- Equinix, Inc.
- Adobe, Inc.
- Cognizant Technology Solutions Corporation
- Microsoft Corporation
- SAP SE
- Oracle Corporation
Digital transformation is considered as the utilization of digital technology with an aim to address conventional issues. Switching from traditional to new digitalized business models streamlines the launch of highly technologically advanced products and solutions. Digital transformation assists companies in enhancing their brand's image, customer experience, and customer retention rations with the help of the installation of the software. Digitally transformed companies can be flexible to the changing technological landscape and can address abrupt shifts in the industry.
With the help of digital transformation, companies can become empowered to enhance their customer experience, operational performance, brand image, and customer retention ratios. Digitally transformed enterprises can be flexible to the changing technological landscape and can address abrupt shifts in the industry, particularly the one presently created by the COVID-19 pandemic; studies show that the efficiency and rate of adaptation of digitally transformed companies to a post-pandemic era are relatively larger than conventional businesses.
Various enterprises across different industries are putting hefty investment in cloud platforms, big data technologies, and mobility with an aim to create Digital Experience Platforms (DXP). In addition to it, companies that produce a huge amount of business data are installing digital transformation solutions embedded with advanced technologies, like machine learning, quantum computing, IoT, and blockchain in order to obtain beneficial insights from the data. These trends are supporting the major market players to aim for product development and innovation so as to provide the highest-quality product and features at a low cost.
COVID-19 Impact
Various businesses have been considerably affected by the global outbreak of the COVID-19 pandemic. One of the significant challenges for the global economy in 2020 was to facilitate business continuity in the midst of social distancing guidelines, lockdowns norms, work-from-home culture, and other operational challenges. The lack of availability of digital strategies, infrastructure, or tools worsens the challenges for various companies that were needed to abruptly shift operations online or allow workers to work from their homes.
The situation, on the other hand, resulted in a considerable surge in awareness regarding the urgent requirement for digital transformation across a majority of the industries and created some lucrative opportunities for the global market. Companies are getting more aware of the advantages of digital transformation, particularly in the work-from-home culture that needs a business to allow the employees to easily learn, collaborate and perform organizational functions across remote locations.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2017, Sep - 2021, May) Leading Players
Chapter 4. Global Digital Transformation Market by Component
Chapter 5. Global Digital Transformation Market by Deployment Type
Chapter 6. Global Digital Transformation Market by Enterprise Size
Chapter 7. Global Digital Transformation Market by End User
Chapter 8. Global Digital Transformation Market by Region
Chapter 9. Company Profiles
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