LONDON, Nov. 24, 2016 /PRNewswire/ -- "Increasing demand for internet of things and increased penetration of mobile devices and apps drives the digital transformation market"
The digital transformation market size is estimated to grow from USD 148.04 billion in 2015 to USD 392.15 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.7%. Companies are seeking ways to increase revenue and reduce expenses, as the global market competition continues to shrink profit margins. Organizations of all sizes are focusing more on analyzing sales and market saturation in specific territories and identifying gaps. However, the lack of awareness regarding the benefits of digitalization is a restraining factor for the digital transformation market.
"The cloud deployment mode to account for the largest market share during the forecast period"
The cloud deployment segment of the digital transformation market, by deployment type is estimated to hold the largest market share during the forecast period. Cloud digital transformation solutions provide users the liberty to access the tools from all computers and mobile devices. They offer the advantages of easy deployment, minimum costs, easy upgradability, accessibility, and no requirement of initial capital for purchasing the software. They help to reduce IT budgets, lower the financial risks, and increase flexibility. Small organizations and single-user licensees generally prefer cloud-based digital transformation tools due to the aforementioned reasons. The market for cloud digital transformation solutions is expected to witness significant traction during the forecast period.
"APAC digital transformation market is projected to grow at the highest growth rate during the forecast period"
The digital transformation market in APAC is estimated to register the highest growth rate during the forecast period. This growth can be attributed to the increasing technological advancements, increasing mobile app users, and big data analytics companies showing positive trend towards adoption of these technologies, thereby presenting immense growth potential for the Asia-Pacific digital transformation market in the near future. In the Asia-Pacific region, China will be the epicenter of digital innovations. Increasing e-commerce business in this country and the rapidly-developing social media platform in this region are among the major driving factors for the increasing digital transformation in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below:
- By Company Type: Tier 1 - 30%, Tier 2 - 40%, and Tier 3 - 30%
- By Designation: C-level - 72%, Director level - 14%, and Others - 14%
- By Region: North America - 57%, Europe - 14%, and APAC - 29%
The various key vendors profiled in the report are as follows:
- SAP AG (Germany)
- IBM Corporation (U.S.)
- Oracle Corporation (U.S.)
- Google, Inc. (U.S.)
- DELL EMC (U.S.)
- Adobe Systems (U.S.)
- HP (U.S.)
- CA Technologies (U.S.)
- Microsoft Corporation (U.S.)
- Adobe Systems (U.S.)
- Accenture PLC (Ireland)
- Capgemini (France)
- Apple, Inc. (U.S.)
- Kelltontech (U.S.)
The report defines, describes, and forecasts the digital transformation market on the basis of component, business type, deployment, end user, industry vertical, and region. It provide detailed information regarding factors influencing the growth of the digital transformation market (drivers, restraints, opportunities, and industry-specific challenges). The study also strategically profiles key players and comprehensively analyzes their core competencies.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the digital transformation market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on digital transformation solutions offered by the top players in the global digital transformation market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the digital transformation market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for digital transformation across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global digital transformation market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global digital transformation market
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