Artificial Intelligence
Digital Transformation Market worth $3,144.9 billion by 2030 – Exclusive Report by MarketsandMarkets™
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.
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Artificial Intelligence
Appian Named a Leader in the 2024 Gartner® Magic Quadrant™ for Process Mining Platforms Report
LONDON, May 3, 2024 /PRNewswire/ — Appian (Nasdaq: APPN) today announced it has been named a Leader by Gartner in its 2024 Magic Quadrant for Process Mining Platforms report. The report evaluated 18 vendors and their product offerings. For more information, download a complimentary copy of the Gartner Process Mining 2024 report.
Gartner defines Process Mining platforms as tools that deliver visibility and insights to technology innovation leaders that enable smart decision making and strong performance on an organisation’s critical priorities. Features that make Appian a leader in Process Mining, include:
Faster data prep that eliminates complex transformation with always-ready data from multiple sources.Automated process analysis and intelligent recommendations for where and how to take action.A low-code experience for measuring, monitoring, and optimising process performance—all within one platform.”We believe that Appian’s recognition in the Gartner Process Mining Platforms Magic Quadrant underscores our dedication to process excellence. Through Process HQ, we integrate data fabric, process mining, machine learning, and generative AI to streamline manual data prep, enabling businesses to gain insights swiftly and implement improvements easily,” said Michael Beckley, CTO and Founder of Appian. “Our unified approach merges Process Mining with AI-driven process automation, setting a new standard for efficiency and intelligence.”
Business users need greater visibility into the full breadth of their enterprise data and processes in order to maximise operational efficiency and strategic decision-making. By combining the latest technologies in data fabric, process mining, machine learning, and generative AI, Process HQ helps monitor and improve every business process built on Appian. Process HQ makes it easy to reduce costs, risks, and delays, improve compliance, and drive better business outcomes, without the need for costly and time-consuming data collection efforts.
Appian is now an industry leader across its value proposition to Design, Automate, and Optimise the most complex business processes. In addition to today’s announcement, Appian was named a Leader in the 2023 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms report, and was ranked #1 for the Business Workflow Automation with Integration Use Case in the 2023 Gartner® Critical Capabilities for Enterprise Low-Code Application Platforms (LCAP) report.
To access the report and to learn more about Appian’s positioning, visit https://ap.pn/3y2ClZy. Register for our upcoming webinar Process Intelligence Made Easy: The Key to Better Business Decisions on June 20, 2024 at 12pm EST to discover how Process HQ can improve business processes.
Gartner disclaimerGartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
About Appian
Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimise even the most complex processes, from start to finish. The world’s most innovative organisations trust Appian to improve their workflows, unify data, and optimise operations—resulting in better growth and superior customer experiences. For more information, visit appian.com. [Nasdaq: APPN]
Follow Appian: LinkedIn, X, and X (UK).
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Artificial Intelligence
Innodisk Introduces iCAP Air: Advancing Air Quality Management through Autonomous Decision-Making
TAIPEI, May 3, 2024 /PRNewswire/ — Innodisk, a global leader in AI solutions, has taken a pivotal step forward in environmental sustainability with the launch of its latest innovation, the “iCAP Air” air quality management solution. This solution empowers businesses worldwide to enhance air quality, sustainability, and human health. Additionally, business can benefit from monthly AI-generated air quality data report, providing valuable insights for informed decision-making.
Leveraging its expertise in edge computing and software and hardware integration, along with the expertise of its subsidiary Sysinno in air quality detection, Innodisk has achieved the development of the “iCAP Air” air quality management solution. This solution integrates advanced technology, including the innovative “iAeris7” air quality detector from Sysinno, to deliver accuracy in detecting temperature, humidity, fine suspended particles (PM2.5), suspended particles (PM10), carbon dioxide (CO2), formaldehyde and total volatile organic compounds (TVOC). It can also be customized to detect NO2, SO2, CO, NH3, and other air factors. At the same time, the iAeris7 device is known for its reliability, patented technology, and various international certifications, including those from SGS and FCC/CE/RoHS/NCC/BSMI.
The solution also includes the “iCAP Air Server,” designed to manage large-scale deployment and data from up to 100 air quality detectors, ensuring seamless integration and efficient operation, even in complex environments. Additionally, iCAP Air provides a user-friendly air quality management platform, enabling organizations to monitor air quality in real-time via a mobile app or internet browser, receive automatic alerts, and optimize air purification or exhaust ventilation system.
iCAP Air is a comprehensive solution that simplifies air quality management for users. It is tailored for medium to large-sized sites or densely populated, enclosed spaces such as medical institutions, smart manufacturing facilities, public transportation hubs, indoor parking facilities, and department stores. Innodisk’s “iCAP Air” air quality management solution represents a milestone for all businesses committed to leveraging technology for the greater good of air quality and society.
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Artificial Intelligence
Bitrue expands Bitcoin Runes Offerings with GPTV Listing and Staking Options
VICTORIA, Seychelles, May 3, 2024 /PRNewswire/ — Leading digital asset exchange Bitrue continues its community-driven approach with the listing of a new Bitcoin Runes token, GPTV•AI•PEPE•KING (GPTV). This follows the recent addition of several other Bitcoin Runes tokens to the platform, including SATOSHI•NAKAMOTO (SATOSHI), LOBO•THE•WOLF•PUP (LOBO), RSIC•GENESIS•RUNE (RSIC), and DOG•GO•TO•THE•MOON (DOG). Trading for the GPTV/USDT pair commenced on April 30th, 2024.
What is GPTV?
GPTV is the native token of AI PEPE KING, a project claiming to be the “largest AI Meme Community” with a presence on both the Polygon (AIPEPE) and Bitcoin Runes (GPTV) blockchains. Notably, AI PEPE KING secured a $10 million investment to develop AI-powered customer service tools leveraging the ChatGPT technology. Additionally, they are building a “Dream Lottery” system. Revenue generated from these products is earmarked for buybacks and burns of both AIPEPE and GPTV tokens, potentially influencing their long-term value.
Staking Opportunities with Attractive Yields
Bitrue is also offering users staking opportunities for those holding BTR, AIPEPE, RSIC, or DOG tokens. By staking their holdings, users can earn rewards in GPTV, with estimated annual percentage yield (APY) varying on the staked token, with BTR offering 22.15%, AIPEPE at 23.18%, RSIC boasting a higher 31.37%, and DOG coming in at 23.62%. These yields present a potentially lucrative opportunity for users to grow their cryptocurrency holdings, but also come with financial risk and the potential for investment to return much lower yields.
Bitrue’s Focus on Community Engagement
The listing of these Bitcoin Runes tokens is a testament to Bitrue’s commitment to its user base. The decision to add these tokens stemmed from a community poll conducted through an X poll on Bitrue’s X account. This highlights the exchange’s dedication to incorporating community feedback into its decision-making process, fostering a sense of collaboration and shared interest.
With the addition of GPTV and the introduction of staking opportunities, Bitrue continues to expand its offerings for users interested in the burgeoning world of Bitcoin Runes tokens. The exchange’s focus on community engagement further strengthens its position as a platform that prioritizes user input and satisfaction.
About Bitrue
Launched in July 2018, Bitrue is a diversified digital asset exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. With offices in Asia and Europe, the business continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.
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