Digital Transformation Market : Current Scenario and Forecast (2020-2026)
- UNI4109891
- 127 Pages
- November 2020
- ICT & Media
According to the study conducted by IDC, two-thirds of the global 2000 companies’ CEO are anticipated to shift their focus from traditional, offline strategies to modern digital strategies to improve the customer experience with approximately 34% of the organizations believing to fully adopt digital transformation within a year. In 2018, the net global spending on the digital transformation was approximately US$ 1 trillion and is anticipated to increase to over US$ 2 trillion by 2022. Most of the digital transformations are driven by growth opportunities, followed by increased competitive pressure and new regulatory standards. Companies that get significant value on their digital investments invest 33% more than other companies in technology, processes, operating models, and the ways of working that will drive their digital supremacy. On average, higher-maturity organizations’ digital transformation efforts are twice as broad as those at lower-maturity organizations (maturity is defined as the level of benefit derived from digital transformation efforts). Digital transformation is a top-down initiative, often led with a vision from the C-suite. CIOs and CEOs are most often reported as owning or sponsoring digital transformation initiatives – 28% and 23%, respectively.
IBM Corporation, Cognizant, SAP SE, Dell, Microsoft Corporation, Adobe Systems Incorporated, Accenture PLC, Capgemini, Oracle Corporation and Google Inc are some of the prominent players operating in the global digital transformation market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst component, Solution segment holds the major share”
Based on component type, the market is fragmented into Solution, and Services. Solutions dominated the market with a share of 78.3% in 2019 and is expected to maintain its dominance during the forecast period owing to the automation of the processes that cuts down time, increases efficiency in operational processes and minimizing costs.
“Amongst solution type, cloud computing sub-segment dominated the market in 2019”
The solution segment is further subdivided into cloud computing, big data and analytics, mobility, disruptive technology and social media. Cloud computing dominated the market with a share of 38.4% in 2019 and is expected to maintain its dominance during the forecast period. However, Disruptive technology is anticipated to witness highest CAGR during the forecast period (2021-2026).
“Amongst service type, Solution segment is expected to dominate the market during the analyzed period”
Service segment is bifurcated into professional services and system integration subsegments. Professional services dominated the market with a share of 81.8% in 2019 and is expected to maintain its dominance during the forecast period. However, system integration is anticipated to witness highest CAGR during the analyzed period. Through an integrated infrastructure, the complexities of different business processes and applications are gone, instead replaced by a simple-to-use, unified environment. From allowing employees to spend less time on mundane data entry to sleeping safely at night due to better levels of security, a modernized IT environment provide endless rewards.
“Amongst deployment type, cloud dominated the market in 2019”
Based on the deployment type, the market is segmented into on-premises and cloud. In 2019, cloud accounted for 58.9% of market revenue share and dominated the market. As businesses begin to adapt their processes to a digital space, they require cost and work efficiency, elasticity agility and scalability. The cloud provides all these features. Businesses that implement cloud computing and digital transformation report enormous growth and improved efficiency. It enables them to stay relevant and thrive in a dynamic ecosystem. However, on-premises segment in anticipated to witness highest CAGR during the forecast period.
“Amongst end-user, large enterprises are expected to dominate the market during the analyzed period”
Based on the end-user, the market is fragmented into large enterprise and small and medium enterprises. In 2019, the large enterprise accounted for the maximum market share with 61.7% and is expected to be the leading segment of the digital transformation market during the forecast period. However, Small and Medium Enterprises Digital Transformation Market is expected to witness highest CAGR growth during the forecast period 2021-2026.
“Amongst industry verticals, Banking Financial Services & Insurance dominated the market in 2019”
Based on industry vertical, the digital transformation market is fragmented banking, financial services & insurance (BFSI), healthcare, telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government, and others. In the BFSI industry, digital transformation helps to make financial transactions speedy, secure, simple, and error-free. In 2019, BFSI accounted for 25.2% of market revenue share and dominated the market. However, healthcare segment in anticipated to witness highest CAGR during the forecast period.
“Asia-Pacific represents one of the largest markets of Digital Transformation market”
For a better understanding of the market dynamics of the digital transformation market, a detailed analysis was conducted for different regions across the globe including North America (US, Canada, Mexico, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, Japan, India, Singapore, South Korea, Australia and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Rest of Latin America) and MEA (United Arab Emirates, Kingdom of Saudi Arabia, Qatar, South Africa, Rest of MEA) has been conducted. Asia-Pacific dominated the market and generated revenue of US$ 427 billion in 2019 owing to the emergence of the region as mature and digitally ready boil down to culture. It seems that, finally, business culture across the world but particularly in the Asia Pacific region is about to pay dividends. With what seems a genuine obsession on meeting customer needs and by investing in technology, people and partnerships, Asia Pacific is poised to take its place as the digital leader.
Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry
Customization Options:
The Digital Transformation Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1.1 Market Definition 17
1.2 Objective of the Study 17
1.3 Limitation 17
1.4 Stakeholders 18
1.5 Currency used in the Report 18
1.6 Scope of the Global Digital Transformation Market Study 18
2. RESEARCH METHODOLOGY OR ASSUMPTION 19
2.1 Research Methodology for the Digital Transformation Market Study 19
2.1.1 Main objective of the Digital Transformation Market Study 20
3. INDUSTRY PERFORMANCE 21
4. EXECUTIVE SUMMARY 23
5. MARKET OVERVIEW 26
5.1 Introduction 26
5.2 Market Dynamics 27
5.2.1 Market Trend & Drivers 27
5.2.1.1 Digitalizing Business Functions 27
5.2.1.2 Rapid Proliferation of Mobile Devices and Apps 29
5.2.1.3 Increasing Penetration of IoT and Adoption of Cloud Services 29
5.2.2 Market Challenges 30
5.2.2.1 Security and Privacy Concerns for Confidential Data 30
5.2.2.2 Issues Related to IT Modernization 30
5.2.3 Market Opportunities 31
5.2.3.1 Demand for Personalized Digital Transformation 31
5.2.3.2 Increasing Usage of Disruptive Technologies Such as AI, ML, and Big Data 31
6. LEGAL & REGULATORY FRAMEWORK 32
6.1 General Overview 32
7. DEMAND AND SUPPLY SIDE ANALYSIS 34
7.1 Demand Side Analysis 34
7.2 Supply Side Analysis 34
7.2.1 Top Product Launches 36
7.2.2 Top Business Partnerships 36
7.2.3 Top Mergers and Acquisitions 36
7.2.4 Top Business Expansions and Investment 37
7.2.5 Top Start-ups under Digital Transformation Sector 38
8. VALUE CHAIN ANALYSIS 39
8.1 Value Chain Analysis 39
9. MARKET INSIGHTS BY COMPONENT 40
9.1 General Overview 40
9.1.1 Solutions 41
9.1.1.1 Cloud Computing 42
9.1.1.2 Big Data & Analytics 44
9.1.1.3 Mobility 45
9.1.1.4 Disruptive Technology 46
9.1.1.5 Social Media 47
9.1.2 Services 47
9.1.2.1 Professional Services 48
9.1.2.2 System Integration 50
10. MARKET INSIGHTS BY DEPLOYMENT TYPE 51
10.1 General Overview 51
10.1.1 On-Premise 53
10.1.2 Cloud 54
11. MARKET INSIGHTS BY END-USER 55
11.1 General Overview 55
11.1.1 Large Enterprise 57
11.1.2 Small and Medium Enterprises 58
12. MARKET INSIGHTS BY INDUSTRY VERTICALS 59
12.1 General Overview 59
12.1.1 Banking Financial Services & Insurance (BFSI) 61
12.1.2 Government 63
12.1.3 Healthcare 63
12.1.4 Telecommunication & IT 64
12.1.5 Automotive 65
12.1.6 Education 66
12.1.7 Retail & Consumer Goods 67
12.1.8 Media & Entertainment 67
12.1.9 Manufacturing 68
12.1.10 Other Industry 69
13. MARKET INSIGHTS BY REGION 70
13.1 General Overview 70
13.2 North America Digital Transformation Market 73
13.2.1 United States Digital Transformation Market 78
13.2.2 Canada Digital Transformation Market 83
13.2.3 Rest of North America Digital Transformation Market 91
13.3 Europe Digital Transformation Market 95
13.3.1 Germany Digital Transformation Market 99
13.3.2 UK Digital Transformation Market 103
13.3.3 Russia Digital Transformation Market 106
13.3.4 France Digital Transformation Market 111
13.3.5 Italy Digital Transformation Market 115
13.3.6 Spain Digital Transformation Market 119
13.3.7 Rest of Europe Digital Transformation Market 123
13.4 Asia-Pacific Digital Transformation Market 127
13.4.1 China Digital Transformation Market 131
13.4.2 Japan Digital Transformation Market 135
13.4.3 India Digital Transformation Market 138
13.4.4 South Korea Digital Transformation Market 143
13.4.5 Singapore Digital Transformation Market 147
13.4.6 Australia Digital Transformation Market 151
13.4.7 Rest of Asia-Pacific Digital Transformation Market 155
13.5 MEA Digital Transformation Market 159
13.5.1 KSA Digital Transformation Market 163
13.5.2 UAE Digital Transformation Market 168
13.5.3 Qatar Digital Transformation Market 171
13.5.4 South Africa Digital Transformation Market 176
13.5.5 Rest of MEA Digital Transformation Market 180
13.6 Latin America Digital Transformation Market 184
13.6.1 Brazil Digital Transformation Market 188
13.6.2 Argentina Digital Transformation Market 193
13.6.3 Rest of Latin America Digital Transformation Market 196
14. COMPETITIVE SCENARIO 201
14.1 Porter’s Five forces analysis 201
14.1.1 Bargaining power of Supplier 202
14.1.2 Bargaining power of Buyer 202
14.1.3 Industry Rivalry 202
14.1.4 Availability of Substitute 202
14.1.5 Threat of new Entrants 202
14.2 Competitive Landscape 203
14.2.1 Market Share of Key Players in Digital Transformation Market, 2019 204
15. TOP COMPANY PROFILES 205
15.1 IBM Corporation 205
15.1.1 Key Facts 205
15.1.2 Business Description 206
15.1.3 IBM Corporation, Digital Journey 206
15.1.4 Key Product/Services Offerings 206
15.1.5 Growth Strategy 207
15.1.6 SWOT Analysis 207
15.1.7 Key Financials 208
15.1.7.1 Revenue Split 209
15.1.7.2 Financial Overview of IBM Corporation 209
15.1.8 Recent Developments 210
15.1.8.1 Product Launch 210
15.1.8.2 Partnerships 211
15.1.8.3 Mergers and Acquisitions 213
15.1.8.1 Business Expansions and Investment 213
15.2 SAP SE 214
15.3 Google Inc. 220
15.4 Oracle Corporation 226
15.5 Microsoft Corporation 232
15.6 Dell Emc 238
15.7 Adobe Systems Incorporated 244
15.8 Accenture PLC 250
15.9 Capgemini 256
15.10 Cognizant 262
TABLE 2 Top Business Partnerships 36
TABLE 3 Top Mergers and Acquisitions 36
TABLE 4 Top Business Expansions and Investment 37
TABLE 5 IBM Corporation, Key Facts 212
TABLE 6 IBM Corporation, Ownership Structure 212
TABLE 7 Products segmentation of IBM Corporation 213
TABLE 8 IBM Corporation, Growth Strategy 214
TABLE 9 IBM Corporation, Product Launches 217
TABLE 10 IBM Corporation, Partnerships 218
TABLE 11 IBM Corporation, Mergers and Acquisitions 220
TABLE 12 IBM Corporation Business Expansions, Investment and Divestitures 220
TABLE 13 SAP SE, Key Facts 221
TABLE 14 SAP SE, Ownership Structure 221
TABLE 15 Products segmentation of SAP SE 222
TABLE 16 SAP SE, Growth Strategy 222
TABLE 17 SAP SE, Product Launches 225
TABLE 18 SAP SE, Partnerships 226
TABLE 19 SAP SE, Mergers and Acquisitions 226
TABLE 20 SAP SE, Business Expansions, Investment and Divestitures 226
TABLE 21 Google Inc., Key Facts 227
TABLE 22 Google Inc., Ownership Structure 227
TABLE 23 Products segmentation of Google Inc. 228
TABLE 24 Google Inc., Growth Strategy 228
TABLE 25 Google Inc., Product Launches 231
TABLE 26 Google Inc., Partnerships 232
TABLE 27 Google Inc., Mergers and Acquisitions 232
TABLE 28 Google Inc., Business Expansions, Investment and Divestitures 232
TABLE 29 Oracle CorporationKey Facts 233
TABLE 30 Oracle Corporation, Ownership Structure 233
TABLE 31 Products segmentation of Oracle Corporation 234
TABLE 32 Oracle Corporation, Growth Strategy 234
TABLE 33 Oracle Corporation, Product Launches 237
TABLE 34 Oracle Corporation, Partnerships 238
TABLE 35 Oracle Corporation, Mergers and Acquisitions 238
TABLE 36 Oracle Corporation, Business Expansions, Investment and Divestitures 238
TABLE 37 Microsoft Corporation, Key Facts 239
TABLE 38 Microsoft Corporation, Ownership Structure 239
TABLE 39 Products segmentation of Microsoft Corporation 240
TABLE 40 Microsoft Corporation, Growth Strategy 240
TABLE 41 Microsoft Corporation, Product Launches 243
TABLE 42 Microsoft Corporation, Partnerships 244
TABLE 43 Microsoft Corporation, Mergers and Acquisitions 244
TABLE 44 Microsoft Corporation, Business Expansions, Investment and Divestitures 244
TABLE 45 Dell Emc, Key Facts 245
TABLE 46 Dell Emc, Ownership Structure 245
TABLE 47 Products segmentation of Dell Emc 246
TABLE 48 Dell Emc, Growth Strategy 246
TABLE 49 Dell Emc, Product Launches 249
TABLE 50 Dell Emc, Partnerships 250
TABLE 51 Dell Emc, Mergers and Acquisitions 250
TABLE 52 Dell Emc, Business Expansions, Investment and Divestitures 250
TABLE 53 SAP SE, Key Facts 251
TABLE 54 Adobe Systems Incorporated, Ownership Structure 251
TABLE 55 Products segmentation of Adobe Systems Incorporated 252
TABLE 56 Adobe Systems Incorporated, Growth Strategy 252
TABLE 57 Adobe Systems Incorporated, Product Launches 255
TABLE 58 Adobe Systems Incorporated, Partnerships 256
TABLE 59 Adobe Systems Incorporated, Mergers and Acquisitions 256
TABLE 60 Adobe Systems Incorporated, Business Expansions, Investment and Divestitures 256
TABLE 61 Accenture PLC, Key Facts 257
TABLE 62 Accenture PLC, Ownership Structure 257
TABLE 63 Products segmentation of Accenture PLC 258
TABLE 64 Accenture PLC, Growth Strategy 258
TABLE 65 Accenture PLC, Product Launches 261
TABLE 66 Accenture PLC, Partnerships 262
TABLE 67 Accenture PLC, Mergers and Acquisitions 262
TABLE 68 Accenture PLC, Business Expansions, Investment and Divestitures 262
TABLE 69 Capgemini, Key Facts 263
TABLE 70 Capgemini, Ownership Structure 263
TABLE 71 Products segmentation of Capgemini 264
TABLE 72 Capgemini, Growth Strategy 264
TABLE 73 Capgemini, Product Launches 267
TABLE 74 Capgemini, Partnerships 268
TABLE 75 Capgemini, Mergers and Acquisitions 268
TABLE 76 Capgemini, Business Expansions, Investment and Divestitures 268
TABLE 77 Cognizant, Key Facts 269
TABLE 78 Cognizant, Ownership Structure 269
TABLE 79 Products segmentation of Cognizant 270
TABLE 80 Cognizant, Growth Strategy 270
TABLE 81 Cognizant, Product Launches 273
TABLE 82 Cognizant, Partnerships 274
TABLE 83 Cognizant, Mergers and Acquisitions 274
TABLE 84 Cognizant, Business Expansions, Investment and Divestitures 274
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