Market Overview
Increasing applications of digital technology in various fields such as science, communications and healthcare are anticipated to be a key factor affecting the market globally. Governments around the world are changing their preference towards utilizing digital services for several functions such as communication, data storage and public relations.
Reducing scope of data degradation and ease in accessing are the major factors boosting the significance of digital storage spaces. This development is anticipated to further complement the growth of the digital transformation market. Advancements in digital electronics technology with expansion in major industries such as construction and automotives are predicted to enhance the market growth over the forecast period.
For better customer experience and advancements in operational procedures, companies are adopting digital transformation products.
Market Segmentation And Useful Insights
The worldwide digital transformation market is segmented on the basis of verticals, businesses, end users, services, regions and developments. Important market participants such as distributors, manufacturers and service providers are dynamically making use of digital technologies such as 3D printing, social media and cloud storage for enhancing their business output.
The utilization of digital tools by marketers to increase the reach of their clients is yet another major factor for market growth. Growing demand for simpler user interfaces and enhanced access to technologies have resulted in the development of optical computing systems and augmented reality (AR) devices. Such technologies are being broadly used in military applications, medical industrial designs and construction.
Increasing marketplace for AR devices like spatial augmented reality, eyeglass and heads-up is likely to boost the demand for digital transformation services. This is estimated to positively affect the overall digital transformation market.
Regional Outlook
North America is the chief regional market. Improved understanding regarding digital transformation among leading business organizations and increasing use of platforms for e-marketing are anticipated to have a positive impact on the North American digital transformation market. Firms in the region are keenly adopting e-technologies to promote their businesses.
Rising demand for digital transformation services in Asia Pacific is likely to complement the market in the region. The emerging growth of IT & IT services in developing markets such as India and China coupled with existence of key industry players in South Korea and Japan is anticipated to develop the market in Asia Pacific
Vital Participants
The vital participants of the digital transformation market are Cognizant, Persistent Systems, Econsultancy, Capgemini Consultancy Global, and Tata Consultancy Services.
