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Digital Transformation Market Global Size, Growth Factors, Top Leaders, Opportunities Analysis

04-09-2024 10:56 AM CET | IT, New Media & Software

Press release from: Markets and Markets

Digital Transformation Market

Digital Transformation Market

The global Digital Transformation Market size is to grow from USD 695.5 billion in 2023 to USD 3,144.9 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 24.1% during the forecast period.

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As per verticals, the healthcare, life sciences & pharmaceuticals segment is to grow at the highest CAGR during the forecast period.

The healthcare, life sciences & pharmaceuticals vertical is expected to grow at the highest CAGR during the forecast period. Healthcare and life sciences refers to the integration and utilization of digital technologies and solutions to improve patient care, enhance operational efficiency, and drive innovation in the healthcare and life science industries. It involves the adoption of various digital tools, platforms, and strategies to digitize processes, collect and analyze data, enhance collaboration, and deliver personalized care.

By Solutions, Cloud Segment to grow at the largest market size during the forecast period.

By solutions, the digital transformation market has been segmented into cloud and on-premises. The cloud offers cost optimization opportunities by reducing the need for on-premises infrastructure and providing pay-as-you-go models that align with business needs. Overall, these drivers have fueled the widespread adoption of digital transformation and cloud technologies, enabling organizations to streamline processes, drive innovation, and achieve strategic objectives in an increasingly digital world. During the forecast period, the cloud segment is anticipated to grow at the highest CAGR for the digital transformation market.

By Business Function, the Human resource segment is to grow at the highest CAGR during the forecast period.

By business function, the digital transformation market has been segmented into accounting and finance, marketing and sales, HR, IT, and operation. HR is the growing need for organizations to adapt and thrive in an increasingly digital and competitive landscape. This transformation is fueled by several trends, including the integration of advanced technologies such as artificial intelligence, machine learning, and automation to streamline HR processes, enhance data-driven decision-making, and improve the overall employee experience. During the forecast period, the human resource segment is anticipated to grow at the highest CAGR for the digital transformation market.

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Some major players in the digital transformation market include Microsoft (US), SAP (Germany), Baidu (China), Adobe Systems (US), Alibaba (China), IBM (US), Google (US), Marlabs (US), Salesforce (US), Broadcom (US), Equinix (US), Oracle (US), Hewlett Packard Enterprise (US), HCL Technologies (India), EY (UK), Cognizant (US), Tibco Software (US), Alcor Solutions (US), Smartstream (US), Yash Technologies (US), Interfacing (US), Kissflow (India), eMudhra (India), ProcessMaker (US), Process Street (US), Happiest Minds (India), Scoro (UK), Dempton Consulting Group (Canada), Brillio (US), Aexonic Technologies (India), CloudAngles (US), Magnetar IT (England), Scitara (US), Intrinsic (US), and Soundful (US).

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Mr. Aashish Mehra
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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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