Digital Transformation Market Report 2021: Global Industry Share, Top Key Players, Regional Study, Upcoming Trends and Growth Segments 2027

 A comprehensive overview of Digital Transformation is recently added by UnivDatos Market Insights to its humongous database. The Digital Transformation report has been aggregated by collecting informative data of 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. The Digital Transformation report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Digital Transformation at the global and regional levels. The global Digital Transformation Market is expected to grow at a CAGR of 16.1% from 2021-2026 to reach US$ 3,693.8 billion by 2026.

Market Overview

Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how organizations operate and deliver value to customers. Surging penetration of smartphones, escalating number of application downloads coupled with the rising adoption of cloud services are some of the key factors contributing to the growing market of digital Transformation. Globally, the number of smartphone users exceeded 3 billion and is anticipated to reach 4 billion in the next few years. Furthermore, on an average smartphone user spends 190 minutes each day using their devices and apps account for nearly 90% of smartphone usage. Moreover, nearly three-quarters of the world will use just their smartphones to access the internet by 2025, as revealed by CNBC.  

Additionally, the use of advanced technologies such as IoT, big data and analytics, cloud, mobility, and social media across organizations has led to innovation and transformation which has positively impacted the growth of the digital transformation market. According to the study conducted by a renowned consulting firm, 40% of organizations have reached scale for their digital initiative and 91% of organizations are engaged in some form of digital initiative. Also, the benefits of digital transformation such as improving the organization brand’s reputation, enhanced customer experience, and customer retention ratios through the implementation of the various software are some of the factors that are pushing the growth of the digital transformation market.

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COVID-19 Impact

The global disruptions of 2020 have accelerated the funding and investments in business transformation and generating a mandate to be active and resilient.  As per IBM, 96% of leaders say the pandemic will speed up their digital transformation by an average of 5.3 years. Moreover, the government’s mandated for lockdown, social distancing, and working remotely made the organizations and public dependent on the online work and services for their essential and non-essential needs. So, the cloud infrastructure witnessed a sharp rise. However, several enterprises operating in the industries such as manufacturing, automotive, etc., had shuttered down their production sites due to lockdown restrictions, which had adversely impacted the market growth.

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

·         Services

The solution segment dominated the component segment and gathered 78.9% of the Digital Transformation Market in 2019. Moreover, the market is expected to grow at a 15.1% CAGR to reach US$ 2,747.8 billion by the year 2026.

By Solution Type, the market is primarily segmented into

·         Cloud Computing

·         Big Data & Analytics

·         Mobility

·         Disruptive Technology

·         Social Media

The cloud computing segment generated revenue of US$ 353.4 billion in 2019 and is expected to grow at a CAGR of 14.5% during the forecast period. However, the Disruptive Technology segment is expected to witness a robust CAGR of 18.8% during the forecast period of 2021-26.

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By Services Type, the market is primarily segmented into

·         Professional Services

·         System Integration

The professional services segment generated revenue of US$ 201.2 billion in 2019 and is expected to grow at a CAGR of 16.6% during the forecast period to reach a market valuation of US$ 658.0 billion by 2026F.

By Deployment Type, the market is primarily segmented into

·         On-Premise

·         Cloud

Amongst Deployment Type, the cloud segment accounted for a market valuation of US$ 724.2 Billion in 2019 and is expected to reach US$ 2,443.7 Billion by the year 2026, at a CAGR of 17.3% over the analyzed period.

By End-User Type, the market is primarily segmented into

·         Large Enterprise

·         Small and Medium Enterprises

The large enterprise segment generated revenue of US$ 755.2 billion in 2019 and is expected to grow at a CAGR of 15.1% during the forecast period to reach a market valuation of US$ 2,233.1 billion by 2026F.

By Industry Verticals Type, the market is primarily segmented into

·         Banking Financial Services & Insurance (BFSI)

·         Government

·         Healthcare

·         Telecommunication & IT

·         Automotive

·         Education

·         Retail & Consumer Goods

·         Media & Entertainment

·         Manufacturing

·         Others

Amongst industry verticals, the Banking Financial Services & Insurance (BFSI) segment of the Digital Transformation market was valued at US$ 290.8 billion in 2019 and is likely to reach US$ 836.4 billion by 2026 growing at a CAGR of 14.6% from 2021-2026.

Digital Transformation Geographical Segmentation Includes:

·         North America

·         Europe

·         Asia-Pacific

·         MEA

·         Latin America

Based on the estimation, the Asia Pacific region dominated the Digital Transformation Market with almost US$ 427 billion in revenue in 2019. At the same time, the Europe region is expected to grow considerably with a CAGR of 14.9% over the forecast period.

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The major players targeting the market includes

• IBM Corporation
• Microsoft Corporation
• SAP
• Dell EMC
• Google
• Accenture
• CA Technologies
• Cognizant
• Adobe Systems
• Oracle corporation

Competitive Landscape

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

·         Which factors are influencing the Digital Transformation Market over the forecast period?

·         What are the global challenges, threats, and risks in the Digital Transformation market?

·         Which factors are propelling and restraining the Digital Transformation Market?

·         What are the demanding global regions of the Digital Transformation market?

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

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

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Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

·         The market report presents the estimated market size of Digital Transformation Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.

·         Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.

·         An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.

·         The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.

·         The various parameters accelerating the growth of Market are incorporated in the research report.

·         The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

·         Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

·         The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.

·         The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

·         Based on what factors are the key market players assessed in this report?

·         The report offers detailed analysis of leading companies in the market across the globe.

·         It provides details of the major vendors involved in the Market including Key Playes

·         A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and

·         the manufactured products is incorporated in the report.

·         The facts and figures about market competitors along with standpoints of leading market players are presented in the report.

·         The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

·         Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

·         The report offers the present scenario and future growth prospects Market in various geographical regions.

·         The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.

·         The SWOT analysis is conducted along with Porter's Five Force analysis.

·         The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.