Asia-Pacific Digital Transformation Market to Witness high growth by 2027

 A comprehensive overview of the Asia-pacific Digital Transformation market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the digital transformation market in the Asia-Pacific region. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Asia-Pacific Digital transformation market at the country levels. The Asia-Pacific digital transformation market is expected to grow at a CAGR of 13.53% from 2021-2027 to reach USD 1,334.3 billion by 2027.

Market Overview

Asia-Pacific digital transformation market is experiencing significant growth on account of increasing adoption of smartphone, increasing penetration of online business and rising government initiatives to digitalize their economy. For instance, China leads in Asia-Pacific with highest number of smartphone users accounting for nearly 882.2 million users in 2019, up from 816.0 million users in 2018. Also, In 2019, the smartphone adoption rate in APAC reached 61% in 2019 and is expected to rise up to 84.9% by 2027.

Furthermore, The adoption of cloud computing is witnessing an uptick owing to the benefits such as on-demand access to the resources underpinning these new digital business offerings, allows organizations to scale infrastructure as needed to support changing business priorities, while reducing the risks of wasted IT resources that inhibited past investments in new digital services. Owing to these facts, many companies in the region are spending on public cloud services. For instance, according to an industry leader, in APAC, spending on public cloud services grow by 38% to reach USD 36.6 billion in 2020. Further, they also predicted that public cloud services spending in APAC is expected to reach USD 48.4 billion by 2021.

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COVID-19 Impact

Customers and Companies around the Aisa-Pacific have altered significantly since the beginning of the COVID-19 pandemic at the beginning of 2020, among which the increased adoption of technologically advanced products. Owing to Covid-19 majority of the businesses were closed, and to reach major customer groups, companies have moved to the digital model sustain in the competitive business landscape.

Asia-Pacific Digital transformation market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Component, the market is primarily bifurcated into:

·         Solutions

o   Cloud Computing

o   Big Data & Analytics

o   Mobility

o   Disruptive Technology

o   Social Media

·         Services

o   Professional Services

o   System Integration

Solutions segment dominated the Asia-Pacific digital transformation market, accounting for more than 77% share in 2020. However, the service segment is expected to witness the highest growth during the analyzed period.

By Deployment Type, the market is mainly segmented into:

·         On-Premises

·         Cloud

Amongst deployment types, the cloud deployment model dominated the market and generated revenue of US$ 366.1 billion in 2020 and is expected to maintain its dominance during the forecast period.

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By End-User, the market is primarily studied into:

·         Large Enterprise

·         Small and Medium Enterprises

Owing to the high up-front cost associated with digital transformation, large enterprises grabbed the major market of the Asia-Pacific digital transformation market accounting for nearly 66% of market share in 2020. Moreover, small and medium enterprises accounted for around 33.8% share in 2020.

By Industry Vertical, the market is primarily studied into:

·         Banking Financial Services & Insurance (BFSI)

·         Government

·         Healthcare

·         Telecommunication & IT

·         Automotive

·         Education

·         Retail & Consumer Goods

·         Media & Entertainment

·         Manufacturing

·         Others

Banking Financial Services & Insurance (BFSI) segment were the largest adopter of digital technologies, to make their financials transaction safer and more accessible to all. However, the healthcare segment is also expected to witness the highest CAGR growth of 16.14% during the forecast period 2021-2027.

Asia-Pacific Digital Transformation Market Country Segmentation Includes:

·         China

·         Japan

·         India

·         South Korea

·         Singapore

·         Australia

·         Rest of Asia-Pacific

Based on the estimation, China dominated the market in 2020 and is expected to maintain its dominance during the forecast period (2021-2027). Further, India is also expected to witness the highest CAGR growth of 22.97% during the analysis period.

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The major players targeting the market includes:

·         Accenture PLC

·         Adobe Systems Incorporated

·         Capgemini

·         Cognizant

·         Dell

·         Google Inc

·         IBM Corporation

·         Microsoft Corporation

·         Oracle Corporation

·         SAP SE

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the Asia-Pacific region. The specialist team of research analysts sheds light on various traits such as Asia-Pacific market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Asia-Pacific Digital Transformation market. The major players have been analyzed by using research methodologies for getting insight views on market competition.

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Key questions resolved through this analytical market research report include:

·         What are the latest trends, new patterns, and technological advancements in the Asia-Pacific digital transformation market?

·         Which factors are influencing the Asia-Pacific digital transformation market over the forecast period?

·         What are the global challenges, threats, and risks in the Asia-Pacific digital transformation market?

·         Which factors are propelling and restraining the Asia-Pacific digital transformation market?

·         What are the demanding global regions of the Asia-Pacific digital transformation market?

·         What will be the market size in the upcoming years?

·         What are the crucial market acquisition strategies and policies applied by the companies?

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