Demand for Digital Transformation Is Projected To Reach US$2.3 Trillion By 2032

Demand for digital transformation is expected to reach  $2.3 trillion  in 2032, with a growth rate of  14.2%.  The YoY for 2021-2022 is estimated at  19.1% .

The global digital transformation market is projected to earn absolute dollar growth of $  1.7 trillion  through 2032. The industry is projected to show a growth rate of  23.6%  from 2015 to 2021. Over the forecast period , the Internet of Things segment, by technology , is expected to lead the market, exhibiting a CAGR of  13.8%  during the forecast period 2022-2032. Regionally, North America is likely to dominate the sector, with the United States making the most significant contribution, raising  $811.7 billion  by 2032. On the other hand, APAC is projected to be the region fastest growing with China sourcing  134 billion dollars. by 2032.

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Competitive landscape

Organizations in the global digital transformation market are taking various initiatives to digitally transform their business. As competition increases, gamers team up, collaborate and launch new products to gain a competitive edge. Some of the recent developments in the industry are as follows:

• In October 2021, Siemens Smart Infrastructure  acquired Wattsense, a French hardware and software company offering IoT management systems for small to medium-sized buildings, taking Siemens’ building product line to a new level.
• In August 2021, Kubota Corporation  announced a strategic partnership with Accenture to enhance its digital transformation by transforming its business model to contribute to food, environmental and water solutions. The partnership is likely to provide a platform for Kubota locally and globally, incorporating services that combine Accenture’s digital technologies, including AI and IoT.

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Key companies profiled:

• Microsoft
• IBM
• SAP
• Oracle
• Google

Key segments covered in Global Digital Transformation Market Study

• Digital transformation market by technology
  • Cloud Computing
  • Big Data and analytics
  • Mobility/social media
  • Cyber ​​security
  • Artificial intelligence
  • Internet of things
  • Other
• Digital transformation market by distribution
  • Cloud
  • On site
• Digital Transformation Market by Organization Size
  • PMI
  • Big business
• Digital transformation market by vertical
  • BFS extension
  • Retail and e-commerce
  • IT and Telecommunications
  • Media and entertainment
  • Production
  • Healthcare and life sciences
  • Education
  • Government and Defense
  • Other

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Questionnaire Answers in Digital Transformation Market Report Include:

• How has the Digital Transformation market grown?
• What is the present and future prospect of global digital transformation by region?
• What are the challenges and opportunities for digital transformation?
• Why is Digital Transformation consumption higher in the region?
• In which year is the segment expected to surpass the segment?

What sets the Fact.MR report apart from others?

• MR follows a six-point mechanism known as  EVOLVE (Assess. Visualize. Surpass. Exploit. Verify. Eradicate.) . The report has been specially created to evaluate the impact of COVID-19 on the Digital Transformation market. This mechanism focuses on almost all factors in a definite way to provide the best research report for the market stakeholders.
• Evaluate:  A Fact.MR report evaluates every little aspect that can prove to be a growth generator for the digital transformation market, thus making it different and special from other reports.
• Visualize:  Authors involved in the research activities have visualized the post-COVID-19 era so that key market stakeholders have an overview and help them take certain steps to ensure continued growth during the forecast period.
• Overcome:  The report examines the points that can prove to be an Achilles heel for the Digital Transformation market and helps to create strategies to overcome the hurdles that can hinder the growth of the Digital Transformation market.
• Leverage:  The digital transformation market can leverage certain aspects that can prove beneficial for increasing the growth rate. Fact.MR covers all points that key stakeholders can leverage.
• Verification:  Research is carried out systematically to ensure validation of all aspects covered in the report. All points are double checked and verified thoroughly to avoid defects and false information.
• Eradicate: Last but not the least, this aspect helps the key stakeholders to eradicate all the hurdles standing between the growth rate and the digital transformation market.

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