Global Digital Transformation Market Report 2022 to 2028 - Featuring Microsoft, IBM, SAP and Google Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Digital Transformation Market, By Technology, By Deployment Type, By Organization Size, By Vertical, & By Region - Forecast and Analysis 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.

The Global Digital Transformation Market was valued at USD 520.15 Billion in 2021, and it is expected to reach a value of USD 1755.68 Billion by 2028, at a CAGR of more than 18.98% over the forecast period (2022 - 2028).

Digital transformation assists organizations in dealing with various risks associated with disruption, such as reconstructing corporate, market fluctuation, and geopolitical conditions that are unexpected and can result in erratic outcomes.

Furthermore, shifting from a traditional to a new digitalized setup facilitates the introduction of many new technically advanced products and services. By boosting performance, digital transformation can alter, integrate, and simplify daily corporate operations. It helps associations in arranging their operations to save time and effort while making efficient use of resources. Because digital transformation automates traditional corporate operations, it reduces the likelihood of user errors.

Through the use of software, organizations can focus on further developing their brand image by improving the customer experience and attaining improved customer retention ratios. Digital transformation assists firms in adapting to the changing technology landscape and dealing with rapid changes in the business. Furthermore, enterprises investing in analytics, mobility, cloud services, and big data technologies as part of the development of Digital Experience Platforms will account for a large segment of market growth (DXP).

Aspects covered in this report

The global digital transformation market is segmented by Technology (Cloud Computing, Big Data and Analytics, Mobility/social media, Cybersecurity, AI, and IoT), by Deployment Type (Cloud and On-Premise), by Organization Size (Large Enterprises and Small and Medium-sized Enterprises (SMEs)) by Vertical (BFSI, Retail, Education) & based on region it is categorized into: North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

• One of the key drivers identified for this market is AI-powered automation. It has proven effective in a variety of areas, including aviation, medical, agriculture, energy, and material handling. AI is being used not only to automate tasks but it is also being utilized to diagnose equipment failures and detect product irregularities. For instance, AI and machine learning could be used to predict peak travel periods, aid with passenger check-in, and automate routine maintenance activities in the aviation business.

Restraint

• One of the key restraining factors identified for this market is that data interchange is a significant concern for firms that deal with individuals' personal data, such as BFSI and healthcare. As the demand for data interchange grows, it must be balanced against risk-mitigation capabilities. Data exchange is not expected to be a major concern in the coming years as organizations use digital transformation software that is coupled with data protection features.

Key Market Trends

• Retail is an emerging vertical that is implementing a range of technologies, including cloud computing, big data analytics, DevOps, social networks, digital storefronts, and more. The need to meet customer expectations, as well as expanding consumer purchasing power, are driving this segment's growth, giving rise to new client acquisitions and aiding in the retention of existing clients.
• Another trend leading a positive market growth is retailers use e-commerce, online, and other apps to digitally attract and retain customers. By focusing on each area, such as inventory management, customer service, pricing, merchandising, and supply chain procedures, digital transformation allows retailers to maximize convenience, save time, and stay connected with their customers.

Companies Mentioned

• Microsoft
• IBM
• SAP
• Google
• Oracle
• Cognizant
• Adobe
• Accenture
• HCL Technologies
• Aexonic Technologies

For more information about this report visit https://www.researchandmarkets.com/r/gvxv7h