IBM services will aid CIL to transform its operations into a digital form to simplify the existing processes and assimilate its functions. Owing to strong financial capability, large enterprises can execute digital strategy across businesses and accelerate transformation across different sectors. The healthcare segment is expected to witness significant growth and is estimated to expand at the highest CAGR of over 23% in the next eight years. This tool will not only identify the best markets for your product or service, but also tell you how to prepare for new markets and suggest the right digital marketing solutions. All too often consumers these days find themselves faced with ads that aren’t matched to their needs. This can be attributed to the increasing penetration of the internet and the accelerated use of different types of online payment modes, especially in the retail sector. The augmenting penetration of IoT-based products in daily life, rising penetration of mobile devices, and increased dependence on IoT-based products promote the growth in the global digital transformation market. Furthermore, these players actively participate in the development of new products to improve and expand their existing product and service portfolios, thus offering these companies the possibility of acquiring new customers and validating the technology. Key factors that are driving the digital transformation market growth include demand for the adoption of the Internet of Things (IoT) across industries is promoting the introduction of connected and data-rich solutions. online dashboard trial. These newly designed models are expected to help in mitigating risks associated with costs and facilitate the implementation of new business strategies. To overcome this, the companies need to have a strategy in place for the long-term and have a sound capital plan. Which segment accounted for the largest digital transformation market share? Moreover, Companies are stressing on mergers and acquisitions and partnerships to develop technologically advanced products to gain a competitive edge. SAP SE; IBM Corporation; Oracle Corporation; Google Inc.; Dell EMC; Hewlett Packard Enterprise Co.; CA Technologies; Microsoft Corporation; Adobe Systems Incorporated; Accenture PLC; Capgemini Group; Apple Inc.; Kellton Tech Solutions Ltd. Free report customization (equivalent up to 8 analysts working days) with purchase. The on-premises segment dominated the market in 2019. Digital marketing transformation involves the evaluation of existing brand marketing data and channels, conducting industry and competitive market research and then the designing of a customized and comprehensive digital marketing strategy based on all of that compiled information. Our support available to help you 24 hours a day, five days a week. Digital transformation requires a very active and flexible IT support, which is present in most companies in this region. Automation also entails the integration of several mechanical systems with information technology. We stand by our report quality. When people in professional industries talk about digital transformationthey're talking about how digital technology is understood, and then applied and integrated into our everyday work tasks, … Digital transformation supports organizations in improving their brand’s reputation, customer experience, and customer retention ratios through the implementation of software. The study objectives are to present the Digital Transformation development in North America, Europe In recent years there are many discoveries in the field of technologies such as block-chain, quantum computing, and Artificial Intelligence (AI). Growing demand for the adoption of the Internet of Things (IoT) across industries is promoting the introduction of connected and data-rich solutions. For instance, in December 2019, NTT Corporation and Microsoft Corp. announced a multi-year strategic alliance aimed at delivering secure and reliable solutions that help enterprise customers accelerate their digital transformations. We don’t expect perfect circumstances, but we realise that unless the key issues are identified early on, and there is a will to fix them, then sometimes things just won’t work. Some of the prominent players dominating in the digital transformation market include: Revenue in USD billion and CAGR from 2020 to 2027, Revenue forecast, company market share, competitive landscape, growth factors, and trends, Type, deployment, enterprise size, end use, region, North America; Europe; Asia Pacific; Latin America; MEA, U.S.; Canada; Germany; U.K.; China; India; Japan; Brazil. Who are the key companies/players in digital transformation market? Rising mobile device users, growing online commerce, and increasing use of social media analytics, are some of the factors likely to fuel the growth. Furthermore, they help enhance the patient experience as they enable better decision making, allowing for the optimal utilization of resources and time. During the anticipated time, the automotive sector is likely to become a significant contributor to IT services. . The refresh demanded an investment of $7 billion in 2017, and included services like drive-up delivery. Microsoft partnered with Telecom Egypt in February 2019 to expand its current global cloud network even to Egypt. Digital transformation requires continuous integration of customer services, pricing, inventory, merchandising, and supply chain processes to allow shoppers to maximize convenience and save time. How big is the digital transformation market? The insurance industry is expected to confront the pressure associated with cost-efficiency. Digital transformation requires a digital transformation strategy that, as any strategy, looks at the goals, current situation and how to move forward on a transformational journey in a way that makes sense and connects the dots. The COVID-19 crisis has emerged as a major challenge for the global economy. Thus, the entire process requires a huge capital, which may lead to lower profits initially, however in the long run, the huge investment could become one of the main reasons for business success. North America dominated the market and accounted for over 30% share of global revenue in 2019. It helps organizations in streamlining their operations to save time, efforts, and resources by replacing traditional processes with automation, thus lowering the rate of errors by users. This report has a service guarantee. Large enterprises are adopting digital transformation solutions as they offer cost-effectiveness and easy implementation process. The primary driver of the digital transformation market is the surge in demand for automation in industries. Factors that are driving the market demand in retail are the necessary satisfaction of customer expectations and rising customers’ purchasing power, which in turn is leading to the new customer acquisitions and helping in the retention of existing customers. © 2019 Market Data Forecast All Rights Reserved. Most importantly, Target … Digital still makes up a small portion of total revenue – it was 4.3% of their total sales in Q2 2017 and 8.2% of the total in Q4 2017. The who’s who in digital transformation consulting . "The global digital transformation market report covers deep insights of various vital aspects of the market. 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