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Digital Transformation Market worth $3,144.9 billion by 2030 – Exclusive Report by MarketsandMarkets™

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CHICAGO, July 21, 2023 /PRNewswire/ — Technological breakthroughs, hyper-personalization, integration of physical and digital realms, and a focus on data protection and security will drive the future of the Digital Transformation Market. Cloud computing, ecosystem collaboration, and environmental initiatives will also influence the landscape, while AI-driven automation and workforce upskilling will be critical to success.
The global Digital Transformation Market size is to grow from USD 695.5 billion in 2023 to USD 3,144.9 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 24.1% during the forecast period%, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “Digital Transformation Market”280 – Tables 56 – Figures270 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018–2030
Base year considered
2022
Forecast period
2023–2030
Forecast units
USD Million/Billion
Segments Covered
By Offering, Technology, Business Function, Vertical, and Region
Geographies covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered
Microsoft (US), SAP (Germany), Baidu (China), Adobe Systems (US), Alibaba (China), IBM (US), Google (US), Marlabs (US), Salesforce (US), Broadcom (US), Equinix (US), Oracle (US), Hewlett Packard Enterprise (US), HCL Technologies (India), EY (UK), Cognizant (US), Accenture (Ireland ) and many more.
 
As per verticals, the healthcare, life sciences & pharmaceuticals segment is to grow at the highest CAGR during the forecast period.
The healthcare, life sciences & pharmaceuticals vertical is expected to grow at the highest CAGR during the forecast period. Healthcare and life sciences refers to the integration and utilization of digital technologies and solutions to improve patient care, enhance operational efficiency, and drive innovation in the healthcare and life science industries. It involves the adoption of various digital tools, platforms, and strategies to digitize processes, collect and analyze data, enhance collaboration, and deliver personalized care.
By Solutions, Cloud Segment to grow at the largest market size during the forecast period.
By solutions, the Digital Transformation Market has been segmented into cloud and on-premises.  The cloud offers cost optimization opportunities by reducing the need for on-premises infrastructure and providing pay-as-you-go models that align with business needs. Overall, these drivers have fueled the widespread adoption of digital transformation and cloud technologies, enabling organizations to streamline processes, drive innovation, and achieve strategic objectives in an increasingly digital world. During the forecast period, the cloud segment is anticipated to grow at the highest CAGR for the Digital Transformation Market.
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By Business Function, the Human resource segment is to grow at the highest CAGR during the forecast period.
By business function, the Digital Transformation Market has been segmented into accounting and finance, marketing and sales, HR, IT, and operation. HR is the growing need for organizations to adapt and thrive in an increasingly digital and competitive landscape. This transformation is fueled by several trends, including the integration of advanced technologies such as artificial intelligence, machine learning, and automation to streamline HR processes, enhance data-driven decision-making, and improve the overall employee experience. During the forecast period, the human resource segment is anticipated to grow at the highest CAGR for the Digital Transformation Market.
Top Key Companies in Digital Transformation Market:
Some major players in the Digital Transformation Market include Microsoft (US), SAP (Germany), Baidu (China), Adobe Systems (US), Alibaba (China), IBM (US), Google (US), Marlabs (US), Salesforce (US), Broadcom (US), Equinix (US), Oracle (US), Hewlett Packard Enterprise (US), HCL Technologies (India), EY (UK), Cognizant (US), Accenture (Ireland ), Tibco Software (US), Alcor Solutions (US), Smartstream (US), Yash Technologies (US), Interfacing (US), Kissflow (India), eMudhra (India), ProcessMaker (US), Process Street (US), Happiest Minds (India), Scoro (UK), Dempton Consulting Group (Canada), Brillio (US), Aexonic Technologies (India),  CloudAngles (US), Magnetar IT (England), Scitara (US), Intrinsic (US), and Soundful (US).
Recent Developments:
In May 2023, SAP collaborated with IBM and announced that IBM Watson technology would be embedded into SAP solutions to offer new AI-driven insights and automation. It also helps to fuel innovation and create more efficient and effective user experiences across the SAP solution portfolio.In April 2023, Epic announced expanding its strategic collaboration with Microsoft to incorporate generative AI into healthcare. This collaboration will leverage the capabilities of Azure OpenAI Service and Epic’s renowned electronic health record (EHR) software to bring the benefits of AI to the healthcare sector.In April 2023, the Norwegian Institute of Bioeconomy Research collaborated with Oracle and selected its Autonomous Database and AI functionalities on the Oracle Cloud Infrastructure (OCI) to gain deeper insights into the forest value chain and enhance long-term sustainability practices.In April 2023, Google announced the launch of a new AI that enables Claims Acceleration Suite to streamline health insurance prior authorization and claims processing. By utilizing the newly developed Claims Data Activator, this solution aims to alleviate administrative burdens and reduce costs for health plans and providers.In March 2023, SAP announced the SAP Datasphere solution, the next generation of its data management portfolio to provide customers with quick access to data that is ready for business use across the data landscape.Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=43010479
Digital Transformation Market Advantages:
Businesses may acquire and analyse real-time data from multiple sources thanks to digital transformation. This data-driven strategy supports better decision-making by providing organisations with insights into market trends, customer behaviour, and operational performance.Implementing digital solutions can help to minimise operational costs in the long run. Automation can replace labor-intensive operations, while cloud computing can reduce hardware and infrastructure costs. Furthermore, digital communication and collaboration solutions might help to cut travel and communication expenditures.Adopting digital technologies can provide organisations with a competitive advantage in the market. Companies that are quick to adapt and develop utilising digital tools can respond to market shifts, client needs, and emerging trends more effectively.Employees, teams, and departments may communicate and collaborate more effectively thanks to digital transformation, regardless of their physical location. Cloud-based collaboration tools, project management software, and virtual meeting platforms make it easier to work together and share knowledge.Scalability is generally provided through digital solutions, allowing firms to easily adapt their resources and infrastructure to shifting demands. Cloud services, for example, allow businesses to scale up and down their processing power and storage as needed.Digital transformation enables firms to be more agile and adaptable in a fast-paced and rapidly shifting business environment. They can react swiftly to market developments, implement adjustments, and stay ahead of the competition.Enhancing cybersecurity safeguards to secure sensitive data and information is frequently part of digital transformation. It also assists firms in adhering to applicable legislation and standards, lowering the risk of data breaches and related legal concerns.Report Objectives
To determine and forecast the Digital Transformation Market by offering, business function, technology, vertical, and region, and analyze the various macroeconomic and microeconomic factors that affect market growth.To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific, Middle East & Africa, and Latin AmericaTo provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall marketTo analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the marketTo profile the key market players and provide a comparative analysis on the basis of their business overviews, regional presence, product offerings, business strategies, and key financials, and illustrate the competitive landscape of the marketTo track and analyze competitive developments, such as acquisitions; expansions; new product launches and product enhancements; agreements, collaborations, and partnerships; and R&D activities in the market.Browse Adjacent Markets: Analytics Market Research Reports & Consulting
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About MarketsandMarkets™ 
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Insight: https://www.marketsandmarkets.com/ResearchInsight/digital-transformation-market.aspVisit Our Website: https://www.marketsandmarkets.com/Content Source: https://www.marketsandmarkets.com/PressReleases/digital-transformation.asp
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HUAWEI CONNECT 2024 | Huawei Unveils the Brand-New Xinghe Intelligent Fabric Solution, Powering the AI Era

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September 21, 2024

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SHANGHAI, Sept. 21, 2024 /PRNewswire/ — At HUAWEI CONNECT 2024, over 300 industry leaders, experts, and scholars gathered for the data center network session themed “Xinghe Intelligent Fabric, Powering the AI Era.” The event featured discussions on the evolution and technological advancements of data center networks. During the session, Arthur Wang, President of Data Center Network Domain at Huawei’s Data Communication Product Line, introduced the newly upgraded Xinghe Intelligent Fabric solution. This cutting-edge solution aims to establish a data center network characterized by one map for intelligent operations and maintenance (O&M), one network for diverse computing, and one platform for simplified deployment, providing a robust network infrastructure to support enterprises’ digital and intelligent transformations.

In his keynote speech, Arthur Wang outlined the emerging trends in data center network development. He emphasized that in the AI era, data center networks require both a “brilliant brain” and “resilient bones.” The newly launched Xinghe Intelligent Fabric solution is designed to deliver a powerful network infrastructure tailored for the AI era, featuring:
One Map for Intelligent O&M: Zero Management ConcernsHuawei’s exclusive network digital map enables rapid cross-data center and cross-vendor fault identification within minutes. Additionally, the NetMaster network large model facilitates AI-driven O&M, eliminating manual intervention and ensuring zero management concerns.
One Network for Diverse Computing: Zero Service InterruptionsThe Xinghe Intelligent Fabric supports various application scenarios, including intelligent computing, general-purpose computing, and storage. The innovative Network Scale Load Balancing (NSLB) algorithm increases network throughput to 95% and boosts AI training efficiency by over 10%. With the exclusive iReliable three-level fast switchover capability, it achieves sub-millisecond switchover, guaranteeing zero service interruptions.
One Platform for Simplified Deployment: Zero Configuration ErrorsBy employing digital twins to simulate networks in advance and verify configurations post-deployment, the solution ensures 100% accuracy in network changes. By harnessing network-security convergence capabilities, AI creates an intelligent security matrix to analyze millions of security policies, achieving zero configuration errors.
Looking ahead, Huawei will continue to collaborate with industry partners to enhance research and innovation in data center networks, promote intelligent upgrades, and create greater value for the industry.
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Huawei Launches All-New Xinghe Intelligent Campus with Full Upgrades, Maximizing Enterprises’ Intelligent Productivity

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September 21, 2024

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SHANGHAI, Sept. 21, 2024 /PRNewswire/ — During HUAWEI CONNECT 2024, the Xinghe Intelligent Campus session was successfully held, attracting more than 200 industry pioneers, experts, and scholars from around the world to explore campus network trends and technological innovations. Also at the event, Huawei unveiled its all-new Xinghe Intelligent Campus Solution that stands out for full upgrades to wireless, application, and operations & maintenance (O&M) experience.

Shawn Zhao, President of the Campus Network Domain, Huawei’s Data Communication Product Line, said, “As video conferencing, AI terminals, and AI applications become more widespread, the campus network access density has increased threefold, and the demand for bandwidth has grown tenfold. In this case, users place new requirements on the assurance for AI applications and audio/video services while expecting more intelligent O&M.”
To meet these needs, Huawei launched its all-new Xinghe Intelligent Campus Solution with full upgrades. Specifically, this solution upgrades wireless experience in performance, roaming, and IoT convergence. It also leverages X-Scheduler (an experience scheduling engine) to upgrade application experience, while drawing on AI-assisted decision-making and a tidal prediction algorithm to upgrade O&M experience. These help customers build an industry-leading digital infrastructure and facilitate the digital and intelligent transformation of enterprises.
In addition, the solution provides end-to-end security assurance. On the wireless side, the innovative Wi-Fi Shield technology radically prevents packet eavesdropping on the air interface. On the wired side, the full-link MACsec capabilities from switches to APs ensure secure campus network data transmission since the very beginning.
Also at the session, leading analyst firms, customers, and partners in various industries shared their unique insights, best practices, and successful cases. Key speakers include Sian Morgan, Research Director of Dell’Oro Group; Dr. Haitham S. Hamsa, Professor of Information Technology, Cairo University; Shang Qun, Assistant to the Director of the Computing Center, Peking University; Sun Pan, Director of Infrastructure Operations Dept, System Digitalization Dept, FAW Group; Connee Zhang, CEO of CypressTel. Their valuable practices will provide a unique reference for the digital and intelligent transformation of enterprises across industries.
Looking ahead, Huawei believes that the Xinghe Intelligent Campus Solution will become the preferred choice for global enterprises’ digital and intelligent transformation to reap more benefits.
For more information about Huawei’s Xinghe Intelligent Campus Solution, visit https://e.huawei.com/en/solutions/enterprise-network/campus-network.
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Artificial Intelligence

Huawei Launches Over 20 All-New Xinghe Intelligent Network Offerings to Amplify Industrial Intelligence

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September 21, 2024

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SHANGHAI, Sept. 21, 2024 /PRNewswire/ — During HUAWEI CONNECT 2024, Leon Wang, President of Huawei’s Data Communication Product Line, announced more than 20 all-new Xinghe Intelligent Network offerings globally at the summit themed “Xinghe Intelligent Network, Amplify Industrial Intelligence”. These purpose-built offerings contribute to an AI network ecosystem and help customers seize opportunities for intelligent development and maximize intelligent productivity.

With the development of AI technologies, the world is advancing from digital transformation to intelligent transformation. All industries are quickly adopting AI technologies to create new use cases, for example, self-driving cars, intelligent diagnosis and treatment, and intelligent train inspection. All of these are significantly improving the efficiency and experience of our work and daily lives.
The advent of the intelligent era is driving networks into intelligent ones. Huawei has been making joint efforts with partners to lead research and practices of intelligent networks. That’s why Huawei constantly upgrades its Xinghe Intelligent Network offerings to help customers grasp opportunities for intelligent development, build new intelligent network infrastructure, and maximize intelligent productivity in the intelligent era. Key highlights include the following:
Xinghe Intelligent Campus focuses on AI-enabled, experience-centric campus network construction, ensuring zero freezing for audio and video applications, zero degradation on services, and zero waiting for interactions.Xinghe Intelligent WAN introduces a wide range of intelligent technologies to intelligently schedule millions of flows and precisely optimize service experience.Xinghe Intelligent Fabric adopts the AI Turbo engine to improve network throughput, enhancing foundation model training efficiency.Xinghe Intelligent Network Security integrates AI technologies into network security detection, accurately and rapidly identifying threats.To support network solutions in various scenarios, Huawei released more than 20 featured offerings globally. Examples include the industry’s first 100 Tbps fixed-form Ethernet data center switch, the industry’s first 51.2 Tbps liquid-cooled fixed-form data center switch, the industry’s first AI router, high-quality 10 Gbps campus switches and Wi-Fi 7 APs, Intelligent SASE Branch Security Solution, and the industry’s first IP Autonomous Driving Network Solution. All these offerings are designed to help customers with greater business returns.
As the intelligent era calls for intelligent networks, Huawei will continue to drive the development of intelligent networks and upgrade its Xinghe Intelligent Network products and solutions, ultimately helping global customers to stride towards the intelligent era and reap more benefits.
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