The global digital transformation market size is expected to reach USD 3,810.05 billion by 2030, registering a CAGR of 23.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. The development is ascribed to the increasing need for the establishment of innovative solutions that are equipped to engage customers as well as employees to seamlessly integrate data, operations, IT, and business. Besides, the high acceptance and demand of the Internet of Things (IoT) and other evolving technologies are boosting the growth of the market.
Embracing digital transformation allows organizations to address disruptive changes in businesses such as a frequent shift in the marketplace or restructuring of the corporate framework, and others. With the help of digital transformation, organizations can better handle their customer base by leveraging digitalization and focusing on designing new products, services, or business models. These recently developed technologies are a careful blend of historical digital information about business operations and customer details. Additionally, digital transformation supports the smooth transformation of business activities, conventional processes, and existing business models and helps organizations prepare for upcoming challenges.
Since the rise of digitization and globalization across the world, organizations are adapting to use technology-driven solutions to keep up with the rapid pace of business growth. Organizations are embracing cloud technology quickly as it empowers numerous startups and Small and Medium Enterprises (SMEs) to take on current Digital Experience Platforms (DXP) at reasonable costs without the need to continually update or remove their existing frameworks. In addition, factors such as streamlining the end-to-end customer experience process and improvement in functional adaptability are supporting the development of digital transformation alongside acknowledging the source of new revenue.
Request a free sample copy or view report summary: Digital Transformation Market Market Report
The social media segment is expected to experience a considerable CAGR of 25% over the forecast period. In recent years the use of mobile technology has exponentially increased, due to which social media has transformed and it is now favoring the market growth
After successfully implementing digital transformation solutions, companies will still need maintenance and support from their vendors. This is believed to raise the demand for professional services over the forecast period
The hosted deployment segment accounted for a market share of over 45% in 2021 and it is expected to experience the boost attributable to benefits like accessibility, reduced cost, and enhanced security
The growth of digital transformation is witnessed across the large enterprise segment which holds over 55% of the revenue share in 2021. It is anticipated to experience tremendous growth over the forecast period as large enterprises are concentrating on enhancing the productivity and effectiveness of employees by utilizing digital transformation solutions
The healthcare segment is expected to register the fastest CAGR of 24% from 2022 to 2030. This is due to high customer expectations and the rising focus of medical services providers towards making the patient journey easy by streamlining operations and correctly understanding the need of patients
The Asia Pacific region is expected to grow at a remarkable rate and reach USD 1,306.82 billion by 2030, such development is due to the developing interest in the utilization of the Internet of Things (IoT), predictive analytics, Artificial Intelligence (AI), and other advanced technologies in the regional market
Grand View Research has segmented the global digital transformation market based on solution, service, deployment, enterprise size, end use, and region:
Digital Transformation Solution Outlook (Revenue, USD Billion, 2017 - 2030)
Digital Transformation Service Outlook (Revenue, USD Billion, 2017 - 2030)
Implementation & Integration
Digital Transformation Deployment Outlook (Revenue, USD Million, 2017 - 2030)
Digital Transformation Enterprise Size Outlook (Revenue, USD Million, 2017 - 2030)
Small & Medium Enterprise
Digital Transformation End-use Outlook (Revenue, USD Million, 2017 - 2030)
IT & Telecom
Digital Transformation Regional Outlook (Revenue, USD Million, 2017 - 2030)
Middle East & Africa
List of Key Players in the Digital Transformation Market
Adobe Systems Incorporated
Hewlett Packard Enterprise Co.
International Business Machines Corporation
Kellton Tech Solutions Ltd.
This report has a service guarantee. We stand by our report quality.
Your transaction & personal information is safe and secure.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
Avail customized purchase options to meet your research needs:
"The quality of research they have done for us has been excellent..."