According
to the new market research report "Digital Transformation Market
by Component (Solution (Cloud Computing, Big Data & Analytics, Mobility,
Disruptive Technologies, and Social Media) and Service), End User, Deployment
Type (On-premise and Cloud), Vertical, and Region - Global Forecast to
2022", published by MarketsandMarkets™, the digital transformation market is projected to
grow from USD 205.99 Billion in 2017 to USD 493.39 Billion by 2022, at a CAGR
of 19.1% from 2017 to 2022.
The
market is primarily driven by innovation in businesses, changing customer
preferences, the proliferation of mobile devices & apps, increasing
penetration of IoT, and rising adoption of the cloud platform.
Based on component, the service segment
is expected to witness the highest CAGR during the forecast period
Based
on component, the digital transformation market has been segmented into
solution and service. The service segment is expected to witness the highest
growth rate during the forecast period due to the increasing need for
professional services and system integration.
Browse and
in-depth TOC on "Digital
Transformation Market"
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Based on deployment
type, the cloud segment is expected to witness the highest CAGR during the
forecast period
Based on deployment type, the digital transformation
market has been segmented into on-premise and cloud. The cloud segment is
expected to witness the highest growth rate during the forecast period. Cloud
computing solution enables easy access to data and information from anywhere
and anytime. It also involves pay per use, which is cost effective for an
organization.
Based on end user, the
SMBs segment is projected to grow at the highest CAGR during the forecast
period
Based on end user, the SMBs (small & medium
businesses) segment of the digital transformation market is estimated to
witness a higher growth rate than the enterprises segment during the forecast
period. SMBs predominantly opt for SaaS-based digital transformation solutions
as these solutions are cost-effective and require basic IT infrastructure.
Based on vertical, the
education segment is expected to witness the highest CAGR during the forecast
period
Based on vertical, the education segment of the
digital transformation market is projected to grow at the highest rate in the
coming years. The education vertical includes academic and research industries.
Increasing demand for platform independent or cross-platform applications from
the education vertical translates into huge growth opportunities for the
digital transformation solution vendors.
North America is
estimated to lead the digital transformation market in 2017
North America is estimated to lead the digital
transformation market in 2017. An early adopter of cloud technologies, the
region has advanced infrastructure capabilities, which have helped in
supporting the adoption of digital transformation solutions and services.
Digital transformation requires a very agile and flexible IT support, which is
present in the majority of companies in this region.
The
report encompasses the competitive landscape, which presents the positioning of
25 key vendors of digital transformation solutions and services, based on their
product offerings and business strategies. Some of the major solution and
service vendors include Cognizant (US), SAP (Germany), Dell EMC (US), Microsoft
(US), Adobe Systems (US), Accenture (Ireland), Capgemini (France), IBM (US),
Oracle (US), Google (US), HPE (US), and CA Technologies (US).
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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/digital-transformation-market.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/digital-transformation-market.asp
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