NEW YORK, Nov. 5, 2015 /PRNewswire/ -- Enterprises are adapting digital transformation products and services to implement better customer experience and improved operational process. Digital transformation includes the implementation of transformation in three key areas, namely customer experience, operational process, and business model.
Enterprises are spending a major proportion of their revenue on the advancement of new and upgraded technologies such as cloud computing, big data analytics, mobility, and social media. Enterprises are also facing competitive pressure from their employees in order to transfer their traditional business processes and operational models into new and innovative processes. In addition to that, customers expect new and innovative ways of offerings from the enterprises for an enhanced and differentiated customer experience, which acts as a driver for the digital transformation market.
The report also provides an in-depth analysis of the digital transformation market across solutions, services, business types, deployment types, end users, and verticals. The market is also segmented by region into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America. Among all the regions, North America holds the maximum market size, whereas APAC is the major growing market.
The North American region alone contributes approximately 34% of the global digital transformation market in 2015. One of the factors that have contributed to this growth is the presence of rapid adoption of cloud-based and big data analytics solutions across various organizations in the region over the past few years, as a result of the introduction of Bring Your Own Device (BYOD). The digital transformation market is growing pretty fast in the Asia-Pacific (APAC) region also, where it is expected that the APAC region would grow at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. Still there are certain restraints for the digital transformation market.
The digital transformation market is expected to grow from $150.70 billion in 2015 to $369.22 billion by 2020, at an estimated CAGR of 19.6% from 2015 to 2020. The key players in this market include Apple, IBM Corporation, Oracle Corporation, EMC Corporation, SAP AG, Adobe Systems, CA Technologies, Hewlett Packard (HP), Google, Microsoft Corporation, and many others.
MarketsandMarkets expects that the cloud computing solution will account for the largest market share throughout the forecast period. However, there are a few revenue pockets such as big data and mobility that will witness significant growth in this period.There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, economic, social, technological, and economic factors. The dollar fluctuations are expected to not seriously affect the forecasts in the emerging regions.
The report will help the market leaders or new entrants in this market in the following ways:
1. This report segments the market into various sub-segments covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across different end users and regions.
2. This report will help in the better understanding of the competitors and gain more insights to better one's position in business. There is a separate section on competitive landscape, which includes competitor ecosystem, mergers & acquisitions, partnerships, and agreements. Besides, there are company profiles of ten players in this market. In this section, market internals are provided that can put one ahead of the competitors.
3. The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
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