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Digital Transformation Market to Reach US$ 3,693.8 Billion by 2026 Globally |CAGR: 16.1%| UnivDatos Market Insights
Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how organizations operate and deliver value to customers. Surging penetration of smartphones, escalating number of application downloads coupled with the rising adoption of cloud services are some of the key factors contributing to the growing market of digital Transformation. Globally, . Furthermore, on an average smartphone user spends 190 minutes each day using their devices and apps account for nearly 90% of smartphone usage. Moreover, , as revealed by CNBC.
Additionally, the use of advanced technologies such as IoT, big data and analytics, cloud, mobility, and social media across organizations has led to innovation and transformation which has positively impacted the growth of the digital transformation market. According to the study conducted by a renowned consulting firm, . Also, the benefits of digital transformation such as improving the organization brand's reputation, enhanced customer experience, and customer retention ratios through the implementation of the various software are some of the factors that are pushing the growth of the digital transformation market.
https://univdatos.com/report/global-digital-transformation-market-current-analysis-and-forecast-2020-2026
The global disruptions of 2020 have accelerated the funding and investments in business transformation and generating a mandate to be active and resilient. As per IBM, . Moreover, the government's mandated for lockdown, social distancing, and working remotely made the organizations and public dependent on the online work and services for their essential and non-essential needs. So, the cloud infrastructure witnessed a sharp rise. However, several enterprises operating in the industries such as manufacturing, automotive, etc., had shuttered down their production sites due to lockdown restrictions, which had adversely impacted the market growth.
https://univdatos.com/report/global-digital-transformation-market-current-analysis-and-forecast-2020-2026
Digital Transformation Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
The solution segment dominated the component segment and gathered 78.9% of the Digital Transformation Market in 2019. Moreover, the market is expected to grow at a 15.1% CAGR to reach US$ 2,747.8 billion by the year 2026.
The cloud computing segment generated revenue of US$ 353.4 billion in 2019 and is expected to grow at a CAGR of 14.5% during the forecast period. However, the Disruptive Technology segment is expected to witness a robust CAGR of 18.8% during the forecast period of 2021-26.
The professional services segment generated revenue of US$ 201.2 billion in 2019 and is expected to grow at a CAGR of 16.6% during the forecast period to reach a market valuation of US$ 658.0 billion by 2026F.
Amongst Deployment Type, the cloud segment accounted for a market valuation of US$ 724.2 Billion in 2019 and is expected to reach US$ 2,443.7 Billion by the year 2026, at a CAGR of 17.3% over the analyzed period.
The large enterprise segment generated revenue of US$ 755.2 billion in 2019 and is expected to grow at a CAGR of 15.1% during the forecast period to reach a market valuation of US$ 2,233.1 billion by 2026F.
Amongst industry verticals, the Banking Financial Services & Insurance (BFSI) segment of the Digital Transformation market was valued at US$ 290.8 billion in 2019 and is likely to reach US$ 836.4 billion by 2026 growing at a CAGR of 14.6% from 2021-2026.
Based on the estimation, the Asia Pacific region dominated the Digital Transformation Market with almost US$ 427 billion in revenue in 2019. At the same time, the Europe region is expected to grow considerably with a CAGR of 14.9% over the forecast period.
https://univdatos.com/report/global-digital-transformation-market-current-analysis-and-forecast-2020-2026
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Digital Transformation Market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
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https://univdatos.com/report/global-digital-transformation-market-current-analysis-and-forecast-2020-2026
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