GVR Report cover Digital Transformation Market Size, Share & Trends Report

Digital Transformation Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-851-0
  • Number of Pages: 150
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Technology

Report Overview

The global digital transformation market size was evaluated at USD 731.13 billion in 2022 and is anticipated to witness a CAGR of 26.7% from 2023 to 2030. The market growth can be attributed to the growing adoption of cutting-edge technologies such as cloud, big data analytics, and Artificial Intelligence (AI), among others, which has caused in the exponential growth of all size of businesses across the globe. The COVID-19 pandemic had significant test for entire world to endure the business congruity in between all the social distancing, lockdown, work from home, and other challenges. While few organizations were ready to face the challenges others were not due to lack of digital strategy other important tools or infrastructure required for smooth functioning. Despite all the objections COVID-19 has delivered to personal, professional, and community life, it also gave new opportunities to businesses.

U.S. digital transformation market size, by solution, 2020 - 2030 (USD Billion)

Digital transformation helps organizations to cope with various risks associated and handling disruption such as rebuilding corporate, marketplace fluctuation, and geopolitical conditions that are unforeseen, and can prompt erratic outcomes. Moreover, moving from conventional to new digitalized set up supports the introduction of many new technically advanced products and services. For instance, in April 2022, Salesforce, inc. launched new features to its Customer Data Platform, an AI-powered conversational intelligence platform, including service and marketing cloud capabilities. These features enable service and marketing teams to develop personalized experiences that boost customer relationship in several verticals, such as BFSI, manufacturing, and healthcare, among others. These initiatives would further drive the growth of digital transformation market during the forecast period.

Digital experience platforms can be easily integrated with the existing set of business processes such as Customer Relationship Management (CRM), contact centers, and social media platforms. With the help of these capabilities, organizations can obtain powerful insights helping them boost their return on investment. For instance, in September 2020, Deloitte Digital announced a collaboration with Lamborghini, an Italian automotive giant, to help transforming its digital experience. Deloitte Digital created a new CRM platform using the Salesforce platform and integrated the CRM with a content management system, and enabled Lamborghini to create and deliver the right content to their customers. These features are driving the growth of the digital transformation market during the forecast period.

With the recent focus on digital workplaces and remote working, AI and automation technological proliferation is playing a vital role in automating manual processes and creating new opportunities for organizations in improving productivity and streamlining the process. For instance, in May 2022, Wipro, an Information Technology (IT), consulting, and business services company, announced a partnership with Scania, a transport solutions provider, to provide support, increased automation, and enhanced customer experience for Scania employees through Wipro’s Live Workspace. This partnership would help Scania to drive towards sustainable transport solutions and digital workplace experience while leveraging the unique capabilities of Wipro’s ecosystem. As a result, there are numerous opportunities for service providers to innovate their offerings by leveraging cutting-edge technologies, which is propelling the digital workspace market.

Companies' growing preference for cloud-based digital experience platforms aids the digital transformation market growth. Several businesses prefer cloud services because they reduce investments in physical infrastructure and allow for rapid deployment. Companies can access cloud-based digital experience platforms from multiple devices such as smartphones, laptops, and desktop computers and deliver customized content based on customer preferences, purchasing behavior, and historical transactions. Trends like these are likely to fuel the digital transformation market growth.

Solution Insights

The analytics segment accounted for the largest market share of 35.3% in 2022, attributable to the high demand to integrate enormous volumes of business information to generate powerful insights. The analytics segment helps industries to reduce their equipment downtimes, increase operational efficiency, and improve yield. Businesses depend upon the analytics due to its accurate prediction capabilities which leads to improved business performance. With the help of analytics, organizations can better understand consumers purchasing patterns and hence forecast can be more précised.

The cloud computing segment is anticipated to witness a CAGR of 27.6% during the forecast period. Several large organizations have implemented cloud technology, that are contextual and insights-enabled, simple to consume, and powered by AI, and other automation technologies. Moreover, cloud computing enables businesses to easily scale up or scale down their IT requirements as needed. Furthermore, cloud computing facilitates and organizes group collaboration by allowing employees to work from a centralized repository of files with real-time updates, resulting in increased productivity. Integrating tools such as instant messaging, file hosting/sharing, and collaboration applications facilitates communication between departments, allowing for more innovation. These benefits of cloud technology in workplace transformation will supplement the growth of the segment during the forecast period.

Service Insights

The professional service segment dominated the market and accounted for the largest revenue share of 74.9% in 2022. This segment provides consulting and managed services to businesses of all sizes in a variety of industries. Business undergoing digitalization need professional services to tackle issues such as vendor selection or cultural transformation. This market is expected to expand as professional service providers assist in utilizing and deploying the appropriate resources at the appropriate time.

The implementation and integration service segment is anticipated to grow at a CAGR of 26.4% during the forecast period as organizations are anticipated to reach out to implementation service companies for seamlessly deploying digital solution. Since integration and implementation of digital transformation is a tedious job it is expected that companies will need proper assistance while deploying digital transformation within their existing framework so it will drive the growth of this segment.

Deployment Insights

The on-premises segment dominated the market and accounted for the largest revenue share of 50.8% in 2022. On-premise solutions provide advanced data security, thereby making it convenient to comply with various government regulations. On-premise deployment also gives organizations greater control over sensitive data while allowing them to roll out a personalized network for digital transformation best meeting their needs. For instance, LoginRadius Inc., a Customer Identity and Access Management (CIAM) platform, helps businesses in managing customer identities and data securely in order to deliver a unified customer experience through in-house data centers. It gives organizations more control over sensitive data and assists with compliance. Such benefits associated with on-premise deployment are expected to drive the growth of the segment over the forecast period.

The hosted segment is expected to witness the highest CAGR 30.3% over the forecast period owing to the increasing use of mobile devices and advancements in information sharing technologies. Cloud computing adds another dimension to digital transformation beyond the mere adoption of digital technology by rebuilding processes and tools and delivering experiences in a virtual environment accessible from anywhere. Cloud deployment allows employees in any particular organization to access measurement and analytical tools in real time and make better decisions about the customer journey. These benefits offered by hosted deployment would further drive the segment growth during the forecast period.

Enterprise Size Insights

The large enterprise segment dominated the market and held the largest revenue share of 58.6% in 2022. These enterprises are embracing the digital transformation journey as digital transformation offers cost effectiveness and smooth execution of the business process. It is necessary for large enterprises to have a successful solution because they need the simplicity of framework coordination, better adaptability, and data protection. Due to better financial capability large enterprises can implement advanced techniques across organizations and speed up change across various areas. Moreover, large enterprises play a significant role in advancing innovation driven thoughts and supporting digital awareness.

The Small & Medium Enterprise (SME) segment is anticipated to witness a significant CAGR of 28.3% over the forecast period. SMEs are rapidly deploying digital workplace services regardless of their limited organizational infrastructure. It provides several benefits to SMEs, such as increased workforce and business efficiency, mobilized desk-based operations, a shorter time to market, lower costs, and a better customer experience. Furthermore, SMEs are increasingly adopting cloud enterprise size due to lower costs and scalability, which results in lowering the capital expenditures. These factors are propelling the growth of the digital workplace market in SMEs during the forecast period.

End-use Insights

The BFSI segment dominated the market and accounted for the largest revenue share of over 28.3% in 2022 due to shifting attention of banks and other financial institutions towards offering enhanced experience since products and services within the industry are becoming commoditized. The increased focus of banking companies to provide seamless assistance and technical support to develop customer centric approach is essentially driving the market. Additionally, COVID-19 had changed the way banks and financial institutions interact with stakeholders. The growing demand for remote functioning capabilities has increased leading to more adoption of digital transformation across the BFSI segment.

Global digital transformation market share, by end use, 2022 (%)

The retail segment is anticipated to witness a significant CAGR of 26.8% over the forecast period. The significant growth of this segment can be attributed to increased internet penetration and increased use of mobile applications for making purchases and related decisions. Furthermore, digitalization can be used to enhance the in-store experience by utilising kiosks and interactive displays to assist customers in browsing the entire catalogue of offerings. Malls, for example, have interactive digital displays that help customers understand the directions as well as the brands and food options available on the premises. Furthermore, retailers across all channels use web applications and digital e-commerce to attract new customers and retain existing customers.

Regional Insights

North America dominated the market and held the major share of 43.2% of the market in 2022 owing to the increased usage of the internet and the high adoption of different types of online payment modes. Additionally, various initiatives are attempted by the government bodies to speed up the digital transformation journey in North America, for instance, strict adherence to regulatory norms to protect data. Many organizations are relying on digital transformation to reach the masses; thus, it is derived that market growth in the region will grow significantly. Digital transformation requires extremely dynamic and adaptable IT support, which is available in most organizations of this region. North America has a prominent dominance in advanced programming and software solutions, attributable to high retail, manufacturing, and automotive operations in Canada and U.S.

Digital Transformation Market Trends by Region

Asia Pacific is anticipated to rise as the fastest developing regional market at a CAGR of 29.4% due to the rapid increase in the number of SMEs and the expanding service sector. The developing awareness about the advantages of switching to cloud, alongside a quick shift to innovative technologies, are some of the factors convincing businesses to change their IT infrastructure to guarantee future development. Digital transformation solutions are embraced by organizations to improve customer experience and make business processes smoother as it empowers employee to make informed decisions. The high rise in cell phone users, developing web-based trade, and expanding utilization of data analytics are the factors liable to fuel the development of the market in the region.

Key Companies & Market Share Insights

Market players are observed to invest resources in research & development activities to support growth and enhance their internal business operations. Companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares.

For instance, in October 2022, Accenture plc announced the expansion of their multilateral framework through a reiteration of their commitment to developing their talent, enhancing their shared capabilities, creating innovative concepts using data and AI. Additionally, the companies aimed to provide improved support to assist clients in establishing a robust digital core and reinventing their businesses on the cloud. Some of the prominent players in the digital transformation market include:

  • Accenture plc

  • Apple Inc.

  • Adobe Systems Incorporated

  • CA Technologies

  • Dell EMC

  • Hewlett Packard Enterprise Co.

  • International Business Machines Corporation

  • Microsoft Corporation

  • Kellton Tech Solutions Ltd.

  • Google Inc.

Digital Transformation Market Report Scope

Report Attribute


Market size value in 2023

USD 880.28 billion

Revenue forecast in 2030

USD 4,617.78 billion

Growth Rate

CAGR of 26.7% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company market share, competitive landscape, growth factors, and trends

Segments covered

Solution, service, deployment, enterprise size, end use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; China; India; Japan; Australia; Brazil; Mexico; UAE; Saudi Arabia

Key companies profiled

Accenture plc; Apple Inc.; Adobe Systems Incorporated; CA Technologies; Dell EMC; Hewlett Packard Enterprise Co.; International Business Machines Corporation; Microsoft Corporation; Kellton Tech Solutions Ltd.; Google Inc.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Global Digital Transformation Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the digital transformation market report based on solution, service, deployment, enterprise size, end use, and region.

  • Solution Outlook (Revenue, USD Billion, 2018 - 2030)

    • Analytics

    • Cloud Computing

    • Mobility

    • Social Media

    • Others

  • Service Outlook (Revenue, USD Billion, 2018 - 2030)

    • Professional Services

    • Implementation & Integration

  • Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

    • Hosted

    • On-premise

  • Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

    • Large Enterprise

    • Small & Medium Enterprise

  • End-use Outlook (Revenue, USD Billion, 2018 - 2030)

    • BFSI

    • Government

    • Healthcare

    • IT & Telecom

    • Manufacturing

    • Retail

    • Others

  • Regional Outlook (Revenue, USD Billion, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • UAE

      • Saudi Arabia

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