Home Artificial Intelligence Digital Transformation Market worth USD 3,546.80 Billion at 22.1% CAGR; Expansion of...

Digital Transformation Market worth USD 3,546.80 Billion at 22.1% CAGR; Expansion of Automotive Industry to Bolster Growth, says Fortune Business Insights™

0
23

Pune, India, Feb. 25, 2021 (GLOBE NEWSWIRE) — The global digital transformation market is expected to gain impetus from the emergence of industrial automation in a wide range of industries. Robots are able to control several core industrial processes efficiently. Fortune Business Insights™ published this information in a new report, titled, “Digital Transformation Market, 2021-2028.” The report further states that market size was USD 737.88 billion in 2020 and is projected to reach USD 3,546.80 billion by 2028, exhibiting a CAGR of 22.1% during the forecast period. The expansion of the automotive industry worldwide would result in the rising implementation of industrial robotics. The International Federation of Robotics (IFR), for instance, declared that in 2017, around 2.1 million stand-alone automotive and industrial robots were installed worldwide.

COVID-19 Pandemic: Shutdown of Manufacturing Facilities to Obstruct Growth

The COVID-19 pandemic has affected the economic scenario across the globe on account of the nationwide lockdown measures. In the first quarter of 2020, the digital transformation industry exhibited a mixed impact owing to the gradual slowdown. Several companies have shut down their manufacturing facilities. But, the industry will gradually gain traction as more companies are adopting unique technologies, such as industrial robots and clouds. We are offering accurate research reports to help you better understand the current scenario.

Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/digital-transformation-market-104878

Segmentation-

Fortune Business Insights™ says BFSI Segment Procured a Share of 26.0% in 2019

We have divided the market into technology, enterprise size, deployment model, industry vertical, and region. Based on technology, the market is segregated into cloud computing, big data and analytics, social media/mobility services, robotics, artificial intelligence (AI), internet of things (IoT), and others. In terms of enterprise size, it is bifurcated into large enterprises and small and medium sized enterprises (SMEs). By deployment model, it is classified as on-premises and cloud. Lastly, by industry vertical, it is segmented into banking, financial services and insurance (BFSI), manufacturing, IT and telecommunications, retail and consumer goods, healthcare, transportation and logistics, media and entertainment, government, and others. In 2019, the BFSI segment generated 26.0% in terms of the digital transformation market share because of the increasing need to meet the changing customer demand.

Report Coverage-

This report includes in-depth information associated with change in material usage, new product launches, and technological advancements. It provides digital transformation industry dynamics based on various factors, such as opportunities, challenges, drivers, hindrances, and dynamics. At the same time, it will deliver a complete insight from the supply side respondents related to market share, distribution, and size.

Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/customization/digital-transformation-market-104878

Drivers & Restraints-

Increasing Adoption of Cloud Computing & Big Data to Favor Growth

Several enterprises are slowly entering into a new customer engagement era stoked by the evolving regulatory environment and rapid technological changes. In this era, digital technologies are considered to be essential. Hence, these companies are adopting artificial intelligence, cloud computing, and big data technologies to bolster the organizational growth. They are striving to change conventional business models to modern strategies. However, the increasing risks of security breaches and cyber-attacks may hinder the digital transformation market growth in the near future.

Regional Insights-

Rising Penetration of Internet to Accelerate Growth in North America

Geographically, North America generated USD 234.73 billion in 2020. It is expected to remain at the forefront fueled by the increasing penetration of the internet in a wide range of industry verticals, such as manufacturing, retail, and healthcare. On the other hand, Europe is anticipated to grow significantly on account of the rapid digitalization in economies and societies. In Asia Pacific, the digital transformation industry is likely to grow remarkably attributable to the need to automate labor-intensive tasks by using robots in China.

To get to know more about the short-term and long-term impact of COVID-19 on this market,

Please Visit: https://www.fortunebusinessinsights.com/digital-transformation-market-104878

Competitive Landscape-

Key Players Aim to Fulfil Demand by Introducing State-of-the-art Solutions

The global market possesses a large number of companies that are majorly focusing on launching innovative solutions to cater to the specific requirements of users. Below are the two latest industry developments:

  • October 2020: Oracle launched its Oracle Cloud Observability and Management Platform. This would aid customers to remove the cost, risk, and complexity associated with managing on-premises and multi cloud environments.
  • February 2019: SAP SE introduced SAP Leonardo Internet of Things (IoT) capabilities. These would drive and generate digital transformation for Industry 4.0 and Industrial IoT. The company also unveiled cloud-to-cloud interoperability with Microsoft Azure IoT Hub.

A list of all the prominent digital transformation service providers operating in the market:

  • Amazon Web Services (Washington, United States)
  • Oracle Corporation (California, United States)
  • Microsoft Corporation (Mexico, United States)
  • VMware, Inc. (California, United States)
  • SAP SE (Walldorf, Germany)
  • IBM Corporation (New York, United States)
  • Salesforce.com Inc. (California, United States)
  • HCL Technologies Limited (Noida, India)
  • Wipro Limited (Bengaluru, India)
  • Accenture plc (Dublin, Ireland)
  • Cisco Systems, Inc. (California, United States)
  • Teradata Corporation (California, United States)
  • Cloudera, Inc. (California, United States)
  • Tableau Software (Washington, United States)
  • Huawei Technologies Co., Ltd. (Shenzhen, China)
  • Apple Inc. (California, United States)
  • NVIDIA Corporation (California, United States)

Quick Buy – Digital Transformation Market: https://www.fortunebusinessinsights.com/checkout-page/104878

Table Of Content:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
  • Global Digital Transformation Key Players Market Share Insights and Analysis, 2020
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled (Covered for key 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
    • Recent Developments

TOC Continued…!

Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/digital-transformation-market-104878

Have a Look at Related Research Insights:

Contact Center as a Service (CCaaS) Market Size, Share & COVID-19 Impact Analysis, By Function (Interactive Voice Response (IVR), Multichannel, Automatic Call Distribution, Computer Telephony Integration (CTI), Reporting and Analytics, and Others), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By Industry (BFSI, IT and Telecommunications, Government, Healthcare, Consumer Goods & Retail ), and Regional Forecast, 2020-2027

Adaptive Learning Software Market Size, Share & COVID-19 Impact Analysis, By Deployment (On Premise, Cloud), By End User (K-12, Higher Education, Corporate), and Regional Forecast, 2020-2027

Remote Desktop Software Market Size, Share & COVID-19 Impact Analysis, By Deployment (Cloud and On-Premises), By Enterprise Size (Small & Medium Enterprises, and Large Enterprises), By End-user (BFSI, Healthcare, IT & Telecom, Government, Manufacturing, Education, and Others), and Regional Forecast, 2020-2027

Cloud IT Service Management Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), By Industry (IT & Telecommunication, BFSI, Healthcare, Retail & Consumer Goods, Media & Entertainment, Manufacturing, Government & Public and Others) and Regional Forecast, 2020-2027

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs

LEAVE A REPLY

Please enter your comment!
Please enter your name here