Artificial Intelligence
Global Digital Transformation Market Size to Grow at a CAGR of 15.6% from 2021 to 2030
Pune, India, Aug. 09, 2021 (GLOBE NEWSWIRE) — The Global Digital Transformation Market Size has been estimated to value at USD 589.7 million in 2021 and is projected to grow at a CAGR of 15.6% during the forecast period. Digital transformation is the use of digital technology in numerous areas of the business to decide errors. It also modified a way for how businesses convey and work values to the clients. It also assists the business to deal better in the market by making changes as sustained by the new technologies. Digital transformation supports the corporation to reach the large masses effortlessly.
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Increasing digitalization of organizational business functions to serve changing client needs and improving operational efficiency are expected to drive the digital transformation market during the forecast period. The increasing in penetration of internet of things (IoT) and acceptance of cloud services along with acceptance of online services and blockchain during the COVID-19 outbreak are also expected to fuel the market growth.
Increasing need to increase operational performance and increasing usage of mobile devices, smartphones, and applications supporting digitization are also driving the digital transformation market. On the other hand, increasing privacy and security concerns for confidential information and lack of skilled personnel are estimated to be the key restraints for the digital transformation market during the forecast period.
Global Digital Transformation Market, by Component
Based on component, the digital transformation market is segmented into solution and services. The solution segment holds the highest market share in 2021 and is expected to remain the highest growing market during the forecast period. The segment growth can be attributed to the rapidly emerging technological landscape that involves businesses timely upgrade their systems to uphold an inexpensive edge.
Global Digital Transformation Market, by Technology
Based on technology, the digital transformation market is segmented into cloud computing, artificial intelligence, big data & analytics, social media, cybersecurity, internet of things, and others.
Based on technology, the digital transformation market is segmented into cloud computing, artificial intelligence, big data and analytics, social media, cybersecurity, internet of things, and others. The cloud computing segment is the fastest-growing segment in 2021 and is estimated to remain the fastest-growing segment during the forecast period. The factors attributed to segment growth include easy deployment, easy accessibility and upgradability, and low deployment cost.
Global Digital Transformation Market, by Deployment
Based on deployment, the digital transformation market is segmented into on-premise and cloud. The on-premises segment holds the largest market share in 2021 and is estimated to remain the largest during the forecast period. The factors attributed to the segment growth include ease of customizability during their execution.
On-premise solutions offer high-end data security and simplify easy compliance with numerous government rules. The on-premise deployment also offers large organizations better control over private data. On-premise deployment allows organizations to connect a customized network of digital transformation that meets the organization’s requirements accurately and efficiently.
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Global Digital Transformation Market, by Organization Size
Based on organization size, the digital transformation market is segmented into Small and Medium Enterprises (SME), and large enterprises.
The large enterprise segment holds the largest market share in 2021 and is expected to remain the largest segment during the forecast period. Large enterprises include digital transformation solutions on account of the advantages, such as ease of system integration and implementation, cost efficiencies, flexibility, and data privacy. Large enterprises can speed up digital transformation, have strong economic capability, and execute comprehensive digital strategy across procedures actively. All these factors are expected to drive the segment growth during the forecast period.
Global Digital Transformation Market, by Vertical
Based on vertical, the digital transformation market is segmented into banking, financial services, and insurance (BFSI), and telecommunication, government and defense, education, manufacturing, healthcare, retail, and others. The BFSI segment is the fastest growing segment in 2021 and is expected to remain the fastest growing segment during the forecast period. The segment growth can be due to extensive usage of technology in banking, financial services, and insurance sectors. They consistently thrive for a customer-centric approach to meet their customer needs and provide them with seamless customer service leveraging technology.
The healthcare segment is estimated to grow as a fastest growing segment during the forecast period. The growth of segment is attributed increasing demand for electronic data across operation channels and patient outreach to accelerate the acceptance of digital transformation in the healthcare sector.
The growing volume of patient data has led to the growth of accessible business models to facilitate effective patient handling. These models are anticipated to assist new business policies and help mitigate risks related with the price of executing the same. This is projected to assist as a promising development factor for the healthcare segment. Additionally, digital transformation across the healthcare sector allows better decision-making and improves the patient involvement.
Global Digital Transformation Market, by Region
Based on region, the digital transformation market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America holds the largest regional market in 2021 and is expected to remain the largest market during the forecast period. The factors attributed to the regional market include excessive usage of various online payment processes in the retail segment and high saturation of internet services. The presence of major market companies engaged in digital transformation solutions in North America is expected to propel the regional market growth during the forecast period.
Furthermore, advanced robotic solutions, and high demand for software on account of extensive technology saturation across the manufacturing, retail, and automotive industries in U.S. and Canada are also anticipated to drive the regional market growth during the forecast period.
Some Recent Developments in the Global Digital Transformation Market:
- April 2021 – Adobe Systems Inc. partnered with FedEx, for the integration of Adobe Commerce with ShopRunner, a top eCommerce platform and a subordinate of FedEx Services. The incorporation will give Adobe merchants access to FedEx post-purchase logistics intelligence, which will assist them to propel the demand, gain customer insights, and reduce cost.
- June 2021 – Deutsche Bank associated with Oracle Corporation to revolutionize its database technology and boost its digital transformation. Oracle will support Deutsche Bank to upgrade its current database systems and migrate the bulk of its Oracle Database estate to Oracle Exadata Cloud Customer, an on-premises deployment choice of the Oracle Exadata Cloud Service to support applications that also will not move to the public cloud or may in the future.
COVID-19 Impact on Global Digital Transformation Market
The QMI team is closely analyzing the impact of COVID-19 on the digital transformation market. The significant rise in awareness about the increasing need for digital transformation across several industries is expected to create new developmental opportunities for the market. Organizations are constantly realizing the advantages of digital transformation, mainly in the remote work scenario that involves a business to allow the workforce to seamlessly associated, learn, and carry out organizational functions across various remote locations. This is projected to drive the market during the pandemic and the forecast period.
Some Major Findings of the Global Digital Transformation Market Include:
- Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global sodium-ion batteries market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global digital transformation market, which include IBM Corporation, Google LLC, Accenture, Broadcom (CA Technologies), Equinix, Microsoft Corporation, SAP SE, Cognizant, Adobe Systems, Dell EMC, HPE, Oracle Corporation, HCL Technologies, Tibco Software, Happiest Minds, and Alcor Solution.
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions that include analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global market
- Impact of COVID-19 on the global digital transformation market
Browse key industry insights spread across 155 pages with 85 market data tables and 41 figures & charts from the report, “Digital transformation Market, By Component (Solution, Services), Technology, (Cloud Computing, Artificial Intelligence, Big Data and Analytics, Social Media, Cybersecurity, Internet of Things, Others), Deployment (On-Premise, Cloud), Organization Size, (Small and Medium Enterprises, Large Enterprises), Vertical (Banking, Financial Services, and Insurance, IT and Telecommunication, Government and Defense, Education, Manufacturing, Healthcare, Retail, Others), and Region, (North America, Europe, Asia Pacific, Middle East & Africa, South America) – Market Size and Forecasting to 2030” in-depth analysis along with the table of contents (ToC).
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Reveals necessity in every industry
NEW YORK, April 23, 2024 /PRNewswire/ — Released today, The State of Public Web Data Report 2024, details a comprehensive analysis on how organizations leverage public web data to drive innovation, enhance customer experience, and develop AI models.
Bright Data commissioned an independent third-party to carry out the first survey of this kind which details the emergence of public web data as the most valued data type. Nearly every organization surveyed uses and benefits from public web data through quicker decision-making, boosting revenue, and meeting customer needs.
The need for public web data in AI is clear in all industries, with more than half of respondents using public web data to build AI models for customer service or to meet internal needs such as fraud detection and risk assessment.
Although necessary to build AI machines, 72% of respondents are worried that public web data will no longer be accessible in the next 5 years. The lack of a legal framework to protect this data emerged as a top concern.
Other key insights from the report:
89% of respondents recognize public web data is crucial or very important to the global economy.82% of respondents say public web data is critical to the future of their organization.79% of respondents agree that large organizations and or big tech hide too much of their public web data.88% of respondents believe public web data is critical for the development of AI models.”Our findings reveal a clear consensus among industry leaders: leveraging public web data is key to unlocking growth and fostering innovation,” said Or Lenchner, CEO of Bright Data. “Public web data is not a ‘like to have,’ it’s a ‘must have’ to conduct business and maintain a competitive market. We understand from our own experience with 20,000 customers that once a business realizes the potential of public web data they will look to discover new ways to leverage this tool to lead against the competition.”
About Bright Data: Bright Data is the #1 web data platform. Fortune 500 companies, academic institutions, non-profits, and small businesses rely on Bright Data’s solutions to collect public web data in the most efficient, reliable, and flexible way to make faster, more informed business-critical decisions.
Contacts:[email protected]
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ITU Standardization Sector (ITU-T) Recommendation X.1281 – APIs for interoperability of identity management systems
BRUSSELS, April 23, 2024 /PRNewswire/ — The Secure Identity Alliance (SIA) announced today that its OSIA specification, is recognized as international standard by the International Telecommunication Union’s Telecommunication Standardization Sector (ITU-T). This milestone establishes OSIA as official ITU standard (ITU-T Recommendation) for the global infrastructure of information and communication technologies (ICT).
The specification that is now an ITU-T Recommendation is: ITU-T X.1281 – APIs for interoperability of identity management systems.
ITU-T is the standardization arm of ITU, the United Nations specialized agency for ICT. The Secure Identity Alliance specifications were approved as official ITU-T Recommendations by ITU members including 193 countries and the world’s front-running ICT companies on 1st March 2024. The new ITU-T Recommendation is under the responsibility of ITU’s standardization expert group for security, ITU-T Study Group 17.
“We are very proud that the OSIA specification is recognized as an international standard by ITU-T. This milestone demonstrates the maturity of OSIA and its potential to foster interoperability and promote fairness in the identity management systems market,” said Debora Comparin, Chair of the OSIA Initiative.
Prof. Heung Youl Youm, Chairman of ITU-T Study Group 17, said, “The recognition of the OSIA specification as an official ITU-T Recommendation underscores its critical contribution to the advancement of global ICT infrastructure. We are thrilled about the ongoing collaboration between ITU-T SG17 and the SIA, aimed at developing standards for secure identity management.”
“As Editor of the OSIA standard in the ITU-T Study Group 17 Q10, I am pleased to have contributed to this successful recommendation by the ITU,” said Abbie Barbir, Rapporteur for ITU-T’s working group on ‘Identity management and telebiometrics architecture and mechanisms’ (Q10/17). “The collaboration with the SIA continues on OSIA and other structuring initiatives and standards development.”
Engr Abisoye Coker-Odusote, CEO, National Identity Management Commission (NIMC), Nigeria & Chair of the OSIA Advisory Committee, said, “As the Chair of the OSIA Advisory Committee, comprised exclusively of government representatives, we take great pride in our five years of collaboration guiding the working group in the development of the OSIA specification. OSIA establishes equal marketplace conditions, fosters collaboration, and ensures product compatibility post-mergers and acquisitions. The OSIA standardized interfaces drive innovation, enabling new local market models and reducing fraud within multiple ID systems. Additionally, OSIA addresses integrator/vendor lock-in, allowing governments to maintain control over their identity systems and pursue national development agendas seamlessly.”
“The Secure Identity Alliance has always supported standards and its members have contributed to thousands of standards globally, which are now used in the ICT market. Standards are key to unlock the full power of Identity to enable people, economy and society to thrive,” concluded Didier Trutt, Chairman of the SIA.
X.1281 is at publication stage and can be accessed here: https://www.itu.int/ITU-T/workprog/wp_item.aspx?isn=18778
OSIA v6.1.0. twin specification can be accessed here: https://osia.readthedocs.io/en/v6.1.0/index.html
OSIA qualification programme can be accessed here: https://globalplatform.org/osia-qualification-program/
For more information on the Secure Identity Alliance and the OSIA Initiative, visit http://www.secureidentityalliance.org and www.osia.io
For more information on ITU-T SG 17 visit https://www.itu.int/en/ITU-T/studygroups/2022-2024/17/Pages/default.aspx.
About the Secure Identity Alliance:
Secure Identity Alliance (SIA) is a global non-profit association that serves as the voice for public and private actors and organizations active in the secure identity ecosystem and adjacent industries. SIA’s mission is to unlock the full power of identity so that people, economy, and society thrive. The association supports the development of the activities of its members across four broad pillars: Identity for Good, Outreach, Open Standards Development and Industry Services and Solutions. www.secureidentityalliance.org
About OSIA:
A digital public good, OSIA is an open standard set of interfaces (APIs) that enables seamless connectivity between building blocks of the identity management ecosystem – independent of technology, solution architecture or vendor. More information at www.osia.io
Follow the Secure Identity Alliance at on X @secureidentity1 and LinkedIn at https://www.linkedin.com/company/secure-identity-alliance/
About ITU-T SG 17
The ITU Telecommunication Standardization Sector (ITU-T) is one of the three Sectors (branches) of the International Telecommunication Union (ITU). It is responsible for coordinating standards for telecommunications and Information Communication Technology such as X.509 for cybersecurity, Y.3172 and Y.3173 for machine learning, and H.264/MPEG-4 AVC for video compression, between its Member States, Private Sector Members, and Academia Members.
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STOCKHOLM, April 23, 2024 /PRNewswire/ — SciBase Holding AB (“SciBase”) (STO: SCIB), a leading developer of augmented intelligence-based solutions for skin disorders will participate at the Redeye Medtech event.
On April 24 at CET 9.50 CEO Pia Renaudin will present the latest developments in SciBase at Redeye. The presentation is live broadcasted and can be followed at https://www.redeye.se/events/974326/redeye-theme-medtech-2 where the replay and the presentations will be available afterwards.
For additional information, please contact:Pia Renaudin, VD, tel. +46732069802, e-mail: [email protected]
Certified Advisor (CA):Vator SecuritiesTel: +46 8 580 065 99Email: [email protected]
About SciBase:
SciBase is a global medical technology company, specializing in early detection and prevention in dermatology. SciBase develops and commercializes Nevisense, a unique point-of-care platform that combines AI (artificial intelligence) and advanced EIS technology to elevate diagnostic accuracy, ensuring proactive skin health management.
Our commitment is to minimize patient suffering, allowing clinicians to improve and save lives through timely detection and intervention and reduce healthcare costs.
Built on more than 20 years of research at Karolinska Institute in Stockholm, Sweden, SciBase is a leader in dermatological advancements.
The company has been on the Nasdaq First North Growth Market exchange since June 2, 2015. Learn more at www.scibase.com. All press releases and financial reports can be found here: http://investors.scibase.se/en/pressreleases
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/scibase/r/scibase-will-present-at-the-redeye-medtech-event-on-april-24-th-,c3966053
The following files are available for download:
https://mb.cision.com/Main/12371/3966053/2751965.pdf
Redeye presentation
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