U.K. Digital Transformation Market To Reach $235.69 Billion By 2030

U.K. Digital Transformation Market Growth & Trends

The U.K. digital transformation market size is expected to reach USD 235.69 billion by 2030, growing at a CAGR of 27.7% from 2023 to 2030, according to a new study by Grand View Research, Inc. The adoption of linked devices as well as data-rich and analytics solutions across businesses and enterprises is encouraged by the increased demand for cutting-edge technologies like Artificial Intelligence (AI), the Internet of Things (IoT), and cloud computing. These solutions make it possible to incorporate intelligence capabilities into business processes and procedures to enhance and effectively engage with customers while promoting operational optimization.

Additionally, fostering digitization, the widespread usage of mobile devices, smartphones, and applications across business processes and departments is anticipated to fuel market expansion over the coming years. The rapid transition from conventional to digitalized business models is enabling the introduction of more cutting-edge technical goods and services across industries and sectors, and it is projected that this will further propel the growth of the U.K. market for digital transformation.

The world economy has faced a major difficulty because of the COVID-19 pandemic. Businesses can overcome the problems of lockdown, working from home, social isolation, and other mandates by undergoing digital transformation. Some organizations struggled because companies lacked a digital strategy, infrastructure, or remote working technologies. The COVID-19 pandemic negatively impacted people's personal, professional, and community lives, but it has also opened up new commercial prospects. Solutions for digital transformation are anticipated to foster team collaboration and enable firms to run efficiently without employees. This situation is anticipated to fuel market growth for digital transformation in the UK.

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U.K. Digital Transformation Market Report Highlights

• In terms of solutions, the social media segment is anticipated to register considerable growth of 29.5% over the forecast period. Social media is increasingly being employed to build and enhance the customer experience of a brand. This medium is utilized for maintaining public relations, promoting sales, and marketing the available products and services

• In terms of service, the professional service segment is anticipated to register a CAGR of 29.5% over the forecast period. These services assist businesses in resolving problems brought on by the process of going digital. The problems might pertain to anything from vendor selection to cultural shifts. Additionally, businesses are required to choose professional services owing to a staff with a specific skill set needed for the digital transformation of an operation

• In terms of deployment, the hosted segment is anticipated to grow at the highest CAGR of 31.3% over the forecast period. Hosted solutions expand the customization potential and enable the use of analytical tools across various business channels by enabling businesses to access data across linked devices at any time

• In terms of enterprise size, the small and medium enterprise segment is anticipated to witness a CAGR of 29.2% over the forecast period. The growth can be attributed to the rising adoption of digital platforms in SME business models. Moreover, the growing understanding of the advantages of digitalization has resulted in substantial investments by businesses to extend and maintain their current position in the market

• The retail segment is expected to observe a CAGR of 27.8% during the forecast period. The development of digital technology for information collecting storage, analysis, and distribution has given rise to new dynamics in the retail market's digital transformation. Additionally, digitalization can be used to enhance the in-store experience by utilizing kiosks and interactive displays to assist clients in browsing the full range of products

• Key market players have an extended operating history, a large customer base, and significant competitive strengths. In addition to the inorganic growth strategies, vendors emphasize improving after-sale service offerings to ensure periodic maintenance of installed products

U.K. Digital Transformation Market Segmentation

Grand View Research has segmented the U.K. digital transformation market based on solution, service, deployment, enterprise size, and end-use:

U.K. Digital Transformation Solution Outlook (Revenue, USD Billion, 2018 - 2030)

• Analytics

• Cloud Computing

• Mobility

• Social Media

• Others

U.K. Digital Transformation Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Professional Services

• Implementation & Integration

U.K. Digital Transformation Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

• Hosted

• On-premise

U.K. Digital Transformation Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

• Large Enterprise

• Small And Medium Enterprise

U.K. Digital Transformation End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• BFSI

• Government

• Healthcare

• IT & Telecom

• Manufacturing

• Retail

• Others

List of Key Players in the U.K. Digital Transformation Market

• Accenture PLC

• Adobe Inc.

• Alvarez & Marsal

• Broadcom Inc.

• Dell Inc.

• Equinix

• Google LLC

• HCL Technologies

• Hewlett Packard Enterprise Development LP

• International Business Machines Corporation

• Microsoft Corporation

• Oracle Corporation

• Salesforce

• SAP

• SmartStream Technologies Ltd