According to the latest report by IMARC Group, titled “Digital Transformation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global digital transformation market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 20% during 2021-2026.
Digital transformation represents the organizational, operational, and cultural change of an enterprise, industry, or ecosystem with the integration of digital technologies. It is implemented using on-site or cloud software, hardware upgrades, digital experience platforms (DEP), etc., and involves the application of artificial intelligence (AI), robotics, 3D printing, additive manufacturing, etc. These solutions help optimize the processes and competencies of an organization by digitally streaming the operations and improving the brand’s reputation, customer experience, client retention ratios, etc. As a result, digital transformation is extensively utilized across several industries, such as healthcare, information technology (IT), banking, financial services and insurance (BFSI), retail, transportation, etc.
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Digital Transformation Market Trends:
The elevating digitization levels and the growing adoption of automation in numerous business processes are primarily driving the digital transformation market. Besides this, small, medium, and large-scale enterprises are increasingly embracing these solutions to respond to consumers in real-time and gain a competitive edge, which is further augmenting the global market. Moreover, the rising usage of industrial robots and the advent of Industry 5.0 to enhance the efficiency of smart factory systems are also bolstering the product demand. In addition to this, various technological advancements, including the integration of connected devices with the Internet of Things (IoT) and cloud computing solutions, are facilitating the initiation of actionable steps for improved customer engagements. This is anticipated to stimulate the digital transformation market over the forecasted period.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Breakup by Type:
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Key highlights of the Report:
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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