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Report Overview

The global digital transformation market attained a value of nearly USD 1634.82 Billion in 2023. The market is further expected to grow at a CAGR of 18.00% during the forecast period of 2024-2032 to reach a value of USD 7251.17 Billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Digital Transformation Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 1634.82
Market Size 2032 USD Billion 7251.17
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 18.0%
CAGR 2024-2032 - Market by Region North America 19.2%
CAGR 2024-2032 - Market by Country USA 19.4%
CAGR 2024-2032 - Market by Country China 19.3%
CAGR 2024-2032 - Market by Deployment Type Cloud 19.7%
CAGR 2024-2032 - Market by Organisation Size Small and Medium Sized Enterprises 18.6%
Market Share by Country 2023 UK 3.4%

Rapid Digitisation of Various Industries and Organisations Boosting the Growth of the Digital Transformation Industry

The increasing adoption of various technologies to create new processes, services, products, and business models through the use of digital tools is escalating the demand for digital transformation, therefore propelling the market growth. Moreover, with the rising penetration of smartphones and the internet, various organisations and sectors are promoting digitisation by enabling the use of the latest technology for increased efficiency and productivity. As digital transformation can integrate applications, databases, and software for business intelligence and improve productivity, it is increasingly used by organisations to transform consumer experience, which is further boosting the market growth. The rising demand for faster and cost-effective innovations through the use of technologies like blockchain, machine learning, and quantum computing, are also augmenting the market growth.

Digital transformation is crucial in revolutionising various industries, including healthcare. Digital transformation in the healthcare sector aids healthcare providers to streamline operations and improves their consumer services through various technologies. The rising use of wearable devices, virtual reality, and big data is bridging the gap between healthcare providers and patients. Hence, increasing investments and focus on digital health are expected to bolster the growth of the digital transformation industry. Moreover, the rapid adoption of cloud deployment is resulting in the integration, automation, and improvement of businesses, hence are providing further impetus to the market growth.

Digital Transformation Market

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Digital Transformation: Market Segmentation

Digital transformation is a process of the adoption of digital technology to create either new or modify business processes and consumer experiences to increase efficiency and enhance automation. It enables reimagining business processes through the use of the latest technological advancements.

Global Digital Transformation Market by Segment

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The major technologies of digital transformation are:

  • Cloud Computing 
  • Artificial Intelligence
  • Big Data and Analytics
  • Mobility/Social Media   
  • Cybersecurity   
  • Internet of Things

By deployment type, the market is segmented into: 

  • On-Premises
  • Cloud

Based on organisation size, the market is divided into:

  • Small and Medium Sized Enterprises
  • Large Enterprises

On the basis of industry, the market is classified into:

  • Banking, Financial Services and Insurance
  • IT and Telecom
  • Manufacturing
  • Education
  • Retail
  • Media and Entertainment
  • Government
CAGR 2024-2032 - Market by Country
USA 19.4%
China 19.3%
UK 19.1%
France 18.4%
Brazil 18.1%
Canada XX%
Germany XX%
Italy XX%
Japan XX%
India XX%
Australia 17.2%
Saudi Arabia XX%
Mexico XX%

The EMR report looks into the regional markets of digital transformation like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Digital Transformation Market by Region

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Technological Advancements like Machine Learning and Artificial Intelligence to Bolster the Industry Growth

Technological advancements like artificial intelligence (AI) can provide meaningful insight to companies to improve their customers’ experience, improve products and services, and create innovative strategies. Artificial intelligence can reveal customer preferences and trends as well as reinforce personalised experiences for better customer satisfaction and effective marketing strategies. Moreover, it can increase operational efficiency, mitigate risks, and accelerate growth and innovation while increasing profitability. These benefits are increasing the adoption of digital transformation in various businesses, hence aiding the market growth. As the coronavirus pandemic and stay-at-home orders have increased the use of technologies for almost every application significantly, digital transformation too is witnessing a significant boom owing to the digitisation of their customer and supply chain interactions.

Additionally, the mainstreaming of 5G network due to the increasing demand for reliable connectivity and bandwidth is further bolstering the market growth. The rising demand for automation in various industries and organisations to improve business processes and enhance productivity is increasing the demand for digitisation, further propelling the market growth. Increasing investments by various organisations to improve customer service and data analytics by the adoption of several technologies are expected to aid the market growth. Moreover, the rise of the Internet of Behaviour (IoB), which can not only gather the data on a massive scale but also use the information to influence behaviour through feedback loops, is further accelerating the growth of the digital transformation industry.

Key Industry Players in the Global Digital Transformation Market

The report presents a detailed analysis of the following key players in the global digital transformation market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Microsoft Corporation
  • Dell Inc.
  • Adobe Inc.
  • Accenture PLC.
  • Genpact
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Technology
  • Deployment Type
  • Organisation Size
  • Industry
  • Region
Breakup by Technology
  • Cloud Computing 
  • Artificial Intelligence    
  • Big Data and Analytics    
  • Mobility/Social Media   
  • Cybersecurity   
  • Internet of Things
Breakup by Deployment Type
  • On-Premises
  • Cloud
Breakup by Organisation Size
  • Small and Medium Sized Enterprises
  • Large Enterprises
Breakup by Industry
  • Banking, Financial Services and Insurance
  • IT and Telecom
  • Manufacturing
  • Education
  • Retail
  • Media and Entertainment
  • Government
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Microsoft Corporation
  • Dell Inc.
  • Adobe Inc.
  • Accenture PLC
  • Genpact
  • Others
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2023, the global digital transformation market attained a value of nearly USD 1634.82 Billion.

The market is projected to grow at a CAGR of 18.00% between 2024 and 2032.

The rapid digitisation of various businesses and organisations, the rising penetration of smartphones and high-speed internet, and the increasing digital transformation of the healthcare sector are the major drivers of the market.

Technological advancements, the rapid adoption of cloud computing, the increasing demand for automation in various end-use sectors, and the rise of the Internet of Behaviour (IoB) are the key trends guiding the market demand.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major technologies considered in the market report are cloud computing, artificial intelligence, big data and analytics, mobility/social media, cybersecurity, and internet of things.

The significant deployment types in the market are on-premises and cloud.

The different organisation sizes considered in the market report are small and medium sized enterprises and large enterprises.

The significant industries included in the market report are banking, financial services and insurance, IT and telecom, manufacturing, education, retail, media and entertainment, and government.

The major players in the market are Microsoft Corporation, Dell Inc., Adobe Inc., Accenture PLC., and Genpact, among others.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 7251.17 Billion by 2032.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124