WESTFORD, Mass., July 30,
2024 /PRNewswire/ -- According to SkyQuest, the
global Digital Transformation Market size was valued at
USD 561.19 Billion in 2022 and is
poised to grow from USD 695.88
Billion in 2023 to USD 3,889.60
Billion by 2031, growing at a CAGR of 24% during the
forecast period (2024-2031).
Cloud computing, big data analytics, artificial intelligence
(AI), and cyber security are some of the cutting-edge technologies
that are increasingly being used in the market leading to growth.
These technologies have promoted creativity and alteration in
business operations, hence leading to more income. Additionally,
email and other digital tools for cooperation are being used in
more commercial transactions. Businesses may manage a range of
risks and upheavals, including shifting geopolitical landscapes,
shifting market dynamics, and organizational reconstruction, with
the help of digital transformation. Companies are using AI, big
data, and BI more to gather data in real-time, gain insights that
can be used, better understand their clients' demands, and increase
productivity.
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Digital Transformation Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$695.88
Billion
|
Estimated Value by
2031
|
$3,889.60
Billion
|
Growth Rate
|
Poised to grow at a
CAGR of 24%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Offering, Technology,
Deployment Mode, Business Function, Enterprise Size, Verticals and
Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, and Middle East and Africa.
|
Report
Highlights
|
Integration of advanced
digital technologies
|
Key Market
Opportunities
|
AI and big data
allow businesses to gather real-time insights
|
Key Market
Drivers
|
Increased use of
digital collaboration tools
|
Segments covered in Digital Transformation Market are
as follows:
- Offering
-
- Solution (Software solution, Hardware Solution, Platform
solution), and Services (Consulting Services, Support &
Maintenance, Planning & Designing, Engineering &
Re-Engineering Services, Network & Infrastructure Management,
Application Development)
- Technology
-
- Cloud Computing, Artificial Intelligence, Big Data &
Analytics, Blockchain, Cybersecurity, Internet of Things (IoT), and
others
- Deployment Mode
-
- Business Function
-
- Accounting & Finance, IT & Operations, Information
Technology, Human Resources, Marketing & Sales, and Others
- Enterprise Size
-
- Large Enterprise, and Small & Medium Enterprise
- Verticals
-
- BFSI (Fraud Detection and Prevention, Asset and
Investment Management, Customer Service Automation (Chatbots),
Personalized Financial Recommendations, Regulatory Compliance
Monitoring, and Others), Retail & E-Commerce (Personalized
Product Recommendations, Customer Relationship Management, Payment
Services Management, Virtual Customer Support, Contactless Payments
and Mobile Wallets, and Others), IT/ITES (Automated Code Generation
and Optimization, Automated It Asset Management, IT Ticketing and
Support Automation, Intelligent Data Backup and Recovery, Automated
Software Testing and Quality Assurance, and Others), Media &
Entertainment (Content Recommendation Systems, Content Creation and
Generation, Content Copyright Protection, Audience Engagement and
Personalization, Personalized Advertising, and Others),
Manufacturing (Predictive Maintenance and Machinery Inspection,
Production Planning, Defect Detection and Prevention, Quality
Control, Production Line Optimization, Intelligent Inventory
Management and Others), Healthcare, Life Sciences &
Pharmaceuticals (Electronic Health Records and Electronic Medical
Records (E-Hr & E-Mr), Telemedicine and Remote Patient
Monitoring, Health Information Exchange, Medical Imaging and
Diagnostics, Health Applications, and Others), Energy &
Utilities (Energy Demand Forecasting, Grid Optimization and
Management, Energy Consumption Analytics, Smart Metering and Energy
Data Management, Real-Time Energy Monitoring and Control and
Others), Government & Defense (Intelligence Analysis and Data
Processing, E-Governance and Digital City Services, Border Security
and Surveillance, Digital Identity and Authentication, Command and
Control Systems, Tax and Revenue Management, and Others),
Telecommunications (Network Optimization, Network Security,
Customer Service and Support, Network Planning and Optimization,
Voice and Speech Recognition, and Others), Education (Mobile
Learning, Learning Management Systems, Adaptive Learning and
Assessment, Digital Textbooks and E-Books, E-Learning,
Administrative Automation, and Others), Agriculture (Crop
Monitoring, Yield Monitoring and Prediction, Irrigation and Water
Management, Feeding Management, Weather and Climate Monitoring,
Farm Management Systems, and Others), Automotive, Transportation
& Logistics (Route Optimization, Traffic Management, Driver
Assistance Systems, Fleet Management, Intelligent Parking Systems,
and Others), and Other Verticals
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Roles of Cloud, On-Premises, and Hybrid Solutions in the
Digital Ecosystem
The Global Digital Transformation Market offers cloud,
on-premises, and hybrid solution deployment methodologies. In the
digital world, on-premises provides control and protection, while
the cloud makes scalability and remote access possible; in between
the two there are hybrid options that make your business more
adaptive towards its needs without compromising its
performance.
By keeping data and apps inside an organization's
infrastructure, the on-premises deployment strategy in the global
digital transformation market delivers unmatched control, security,
and compliance. This mode is very important for companies with
strict legal needs due to strong data protection and customized
integration. The risk of cyberattacks will also be reduced as it
guarantees that all operations run seamlessly and securely.
The cloud deployment mode holds significant importance in the
global digital transformation market due to its cost-effectiveness,
scalability, and flexibility. Businesses have the option to remote
access data and apps to collaborate smoothly and adopt innovation
quickly. It is a necessary strategy for managing resources well and
being able to react to the market dynamics effectively, hence
driving the world's digital transformation.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/digital-transformation-market
Enterprise Size Drives Customized Digital Transformation
Solutions and Market Growth
The global digital transformation market divides companies into
small, medium, and large sectors according to their enterprise
size, which affects investment plans and the rate of technology
adoption. The main reason for this division is tailoring digital
transformation solutions to fit specific needs, thus ensuring
scalable, affordable and efficient implementations, as well as
enhancing overall market expansion and competition.
The importance of digital transformation cannot be
underestimated with businesses putting in huge investment on
digital strategies that facilitate efficiency and innovation at a
large scale. To this end they ensure cutting edge technologies such
as AI and Cloud Computing are in place for reliable security and
scaling solutions. This results in increased industry leadership,
competitive advantage, digital transformation standards that are
global.
Small and medium-sized enterprises (SMEs) are indispensable for
flexibility and creativity in the digital transformation global
market. To keep at bay the big companies and at the same time
enhance operational efficiency, they deploy scalable and affordable
digital solutions. In the digital era, small and medium-sized
enterprises (SMEs) are critical to market dynamism, entrepreneurial
growth, and economic resilience and diversity.
Unleashing Innovation through Cloud Computing, AI, Big Data,
and Cybersecurity in Market
The deliberate embrace of cloud computing, big data analytics,
artificial intelligence, and cybersecurity is creating a dynamic
environment in the global market for digital transformation. These
technologies assure a competitive market, encourage new ideas and
make running a business easier for companies. To have digital
transformation that is scalable, secure, effective and enables
growth and leadership in an industry, it is important to have
strategies specific to an enterprise and techniques tailored to its
needs. An ongoing successfulness and resilience for companies in
managing complex risks and market changes is possible only if the
latter are integrated with advanced digital methods and
technologies.
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About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
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SOURCE SkyQuest Technology