Digital Transformation Market to Reach Valuation of 1,446.36 USD Million by 2028; Increasing Advertising Marketing Spending is Driving the Market”

Vantage Market Research

Mar 16, 2022

In terms of revenue, the Global Digital Transformation Market is expected to reach 1,446.36 USD Million by 2028, growing at a CAGR of 18.90% from 2022 to 2028. Several factors such as rising advertising and marketing activities spending by associations, changing customer intelligence landscape to drive the market, coupled with the conception of customer channels are likely to fuel the adoption of services and technologies with respect to digital transformation.

Key Findings:

  • The solution segment is anticipated to hold a significant share for Digital Transformation Market. The growth can be attributed to the rapidly expanding technological landscape which requires associations to upgrade their systems timely in order to maintain a competitive edge over other competitors.
  • The On-Premises segment is anticipated to grow a significant CAGR for the Digital Transformation Market. Several businesses have selection-premise solutions due to the ease of customizability that is offered during implementation. On-premise offer high-end security of data and augment easy compliance with several government regulations. It also offers better control over the data which is confidential to large organizations.
  • North America is the largest regional segment. Owing to a large penetration of services related to the internet coupled with wide usage of a number of online payment approaches in the retail industry. The existence of key players in the market in the region will fuel regional growth in the coming years. Moreover, the huge demand for advanced robotic software and software solutions, due to extensive penetration of technology across the manufacturing, automotive, retail industries in Canada and the U.S. is likely to drive regional growth.

Some of key players in Digital Transformation Market includes, Microsoft(US), IBM(US), SAP(Germany), Oracle(US), Google(US), Cognizant(US), HPE(US), Adobe(US), Accenture(Ireland), HCL Technologies(India), Broadcom(US), Equinix(US), Dell(US), Tibco(US), Marlabs(US), Alcor Solutions(US), Smart Stream(UK), Yash Technologies(US), Interfacing(Canada), Kissflow(India), Emudhra(India), Process Maker(US), Process Street(US), Happiest Minds(India), Scoro(UK), Brillio(US), and Aexonic Technologies(US)..

The rising advanced technology demand, such as the IoT, across enterprises and businesses, is augmenting the adoption of connected devices as well as for analytics and data-rich solutions. Furthermore, these solutions assist the assimilation of intelligence into operations of associations and processes to facilitate effective and improved customer engagements and drive operational efficiency. The rising use of smartphones, applications, and mobile devices across departments and business processes is also augmenting digitization and is likely to drive the market. A shift to digitalize from traditional business models facilitates the introduction of advanced technological services and products across industries.