Digital Transformation Market Size, Share, Growth & Trends Analysis Report By Solution, By Deployment, By Service, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the digital transformation market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for digital transformation market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of digital transformation market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Digital Transformation Market Categorization:

The digital transformation market was categorized into four segments, namely solution (Analytics, Artificial Intelligence, Cyber Security, Cloud Computing, Mobility, Social Media), service (Professional Services, Implementation & Integration), deployment (Hosted, On-premise), enterprise size (BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The digital transformation market was segmented into solution, service, deployment, enterprise size, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The digital transformation market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; UAE; Saudi Arabia

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Digital transformation market companies & financials:

The digital transformation market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Accenture Plc - Accenture plc provides technology solutions and professional services in areas such as network management and consulting. It operates through five business lines: Accenture Technology, Accenture Operations, Accenture Digital, Accenture Strategy, and Accenture Consulting. The company offers business process, infrastructure, security, and cloud services under the Accenture Operations business. It manages 51 subsidiaries and affiliates across the globe. Moreover, it serves industries such as automotive, banking, chemicals, communication & technology, energy, healthcare, consumer goods, life sciences, insurance, retail, travel, and natural resources. As of 2019, the company had business operations spread in over 120 countries globally. It serves customers in North America, Europe, and Growth Markets (Asia Pacific, Latin America, Africa, and the Middle East). In fiscal 2020, the company invested over USD 1.5 billion in around 30 strategic acquisitions.

• Adobe Inc. - Adobe Inc. is a diversified international software company. It offers a wide range of digital transaction management solutions. The company was initially focused on developing creativity and multimedia software but has recently forayed into the digital transaction management market. Adobe Inc. operates its business through three reportable segments, namely Digital Experience, Digital Media, and Publishing and Advertising. The Digital Media segment offers tools and solutions that allow individuals and small- and medium-sized enterprises to create, publish, and promote their digital content. The Digital Experience segment offers a broad and integrated suite of products, solutions, and services for creating, managing, executing, assessing, and improving customer experiences. The solutions offered under this segment can be used for social marketing, analytics, targeting, digital experience management, audience management, media optimization, and cross-channel campaign management, among other applications.

• BMC Software, Inc. - BMC Software, Inc. is a provider of financial transaction management solutions that helps enterprises to improve their operations, build new revenue streams, comply with regulations, and reduce costs. The company is headquartered in the U.S. and has offices in around 29 locations in 124 countries. Moreover, the company has around 6,000 employees. BMC Software, Inc. offers Software as a Service (SaaS)-based and on-premise software and services in areas such as IT service management, cloud computing, IT operations, automation, and mainframe. It also offers solutions for multi-cloud management, automation & DevOps, security & compliance, IT optimization, AI & machine learning, and service management excellence. The company’s products include BMC Helix SaaS-based solutions, TrueSight IT Operations and Automation, and Control-M Application Workflow Orchestration.

• Broadcom Inc. - Broadcom Inc. is a provider of semiconductor and infrastructure software solutions. Broadcom Inc. engaged in designing, developing, and provider of semiconductor and infrastructure software solutions in various countries such as U.S., Asia, Europe, and Israel. The company also invests in R&D to focus on niche prospects and leverage its product portfolio of U.S. and other patents and intellectual properties. The company offers semiconductor solutions that include Set-Top Box, Broadband Access, Ethernet Switching & Routing, Embedded Processors & Controllers, SerDes ASICs, Physical Layer Devices, Fiber Optic Components, RF Semiconductor Devices, and Connectivity Solutions, among others. It also offers a product group of GPS, assisted GPS and GNSS semiconductor products, software, and data services. Apart from semiconductor solutions, the company offers a product portfolio called Infrastructure Software, which includes BizOps software solutions, Mainframe Software, Symantec Cyber Security, FC SAN Management, and Payment Authentication.

• Cognizant - Cognizant provides consulting, information technology, and business process services. The company offers various services related to business consulting, process operations and IT consulting, application development and management, system integration, application testing and management, and IT infrastructure. Cognizant operates its business through four segments, namely financial services, retail & logistics, healthcare, and manufacturing. The company offers a wide range of services encompassing application development and maintenance, enterprise information management, digital technology services, and application outsourcing services to name a few. Cognizant caters to around 300 strategic clients. The company serves its customers through more than 100 delivery centers spread across the globe. The company has strategic alliances with several technology companies, including SAP, Oracle, and Microsoft, among others. The company is publicly owned and listed on the NASDAQ Stock Market as (NASDAQ: CTSH).

• Dell Inc. - Dell Inc. offers a cutting-edge technology and service portfolio that includes multi-cloud and multi-infrastructure technologies. The company’s integrated solutions assist customers in modernizing their IT infrastructure, managing and operating in a multi-cloud environment, addressing workforce transformation, and providing essential solutions that connect people and businesses. The company announced its plan to evolve and expand its IT-as-a-Service and cloud offerings through Apex in Fiscal 2021. Apex will offer customers increased flexibility in scaling IT to meet their changing business needs and budgets. Dell Inc. has three key segments, namely Infrastructure Solutions Group; Client Solutions Group; and VMware. Multi-cloud and big-data solutions are offered under Infrastructure Solutions Group (ISG) and VMware. The ISG segment generates sales majorly from customers in the Americas, EMEA, and APJ, and VMware from the U.S.

• Genpact - Genpact is a U.S.-based company that is engaged in business process outsourcing and IT management services worldwide. It offers accounting and finance services, including invoice processing, document management, approval, and resolution management solutions. It also provides research and analytics services, business consulting, transformation services, and supply chain & procurement services. Furthermore, the company offers enterprise application services that comprise business intelligence and data services, quality assurance, and enterprise resource planning and technology integration solutions. The company caters to the insurance, financial services, capital markets, life science, consumer product goods, manufacturing, healthcare, and high-tech industries.

• Google LLC - Google LLC, a subsidiary of Alphabet Inc., provides search and advertising customer services on the internet. It primarily focuses on business areas such as web-based search and internet-associated products and services, which include search engines, cloud computing, hardware, online advertising technologies, and software. Its portfolio of products and services includes Google Chrome, Google Web Search, Google Calendar, Google Docs, Google Finance, Google Images, Google News, Google Books, Google Play, Google Earth, AdMob, Google Videos, Google Maps, Blogger, Google Reader, Gmail, Google Wallet, YouTube, and Google Groups. The company offers online display advertising services through its AdWords and AdSense programs. The company's instant expansion since incorporation has prompted a chain of acquisitions, products, and partnerships away from its core search engine, Google Search.

• Hewlett Packard Enterprise Development LP - Hewlett Packard Enterprise Development LP provides IT infrastructure services, solutions, software, technologies, and products to enterprises and individual customers. The company’s product portfolio includes networking equipment, printers, storage devices, and servers. Hewlett Packard Enterprise Development LP services unit offers system integration, consulting, application development, IT and business processing outsourcing, and other technology services. The company operates in over 170 countries. The company’s business segments include Compute, High Performance Compute and Mission Critical Systems, Storage, Advisory and Professional Services, Intelligent Edge, Financial Services, and Corporate Investments. Hewlett Packard Enterprise Development LP’s system integration partners include Accenture, DXC Technology Company, PwC, Infosys, Deloitte, and Tech Mahindra.

• International Business Machines Corporation - International Business Machines Corporation is a leading technology and cognitive solutions company engaged in supplying and developing IT solutions and services such as integrated communications, business continuity and resiliency, IT strategy and architecture, security and privacy, maintenance and technical support, and storage as well as data services. The company operates in over 175 countries and offers a wide range of solutions for digital marketing purposes, including cloud platforms and solutions. IBM Corporation serves over 15 industries, including automotive, media and entertainment, construction, and government. In 2010, International Business Machines Corporation introduced IBM Watson, a next-generation supercomputing system that combines analytical software and artificial intelligence to deliver efficient performance as a question-answering system.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Digital Transformation Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Digital Transformation Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.