Digital Transformation Market - Global Forecast to 2023: Increasing Usage of Disruptive Technologies Such as AI, ML, and Big Data

Dublin, April 19, 2019 (GLOBE NEWSWIRE) -- The "Digital Transformation Market by Technology (Cloud Computing, Big Data & Analytics, Mobility/Social Media, Cybersecurity, Artificial Intelligence), Deployment type, Business Function, Vertical (Retail, Education), Region - Global Forecast to 2023" report has been added to's offering.

The digital transformation market is projected to grow from USD 290.0 billion in 2018 to USD 665.0 billion by 2023, at a CAGR of 18.1% from 2018 to 2023.

Digitalizing organizational business functions to serve changing customer preferences and enhance operational efficiency, the rapid proliferation of mobile devices and apps, increasing penetration of IoT and adoption of cloud services, and the need to improve operational performance to gain competitive benefits in the market are projected to drive the growth of the market across the globe. However, security and privacy concerns for confidential data is expected to restrict the growth of the market across the globe.

Digital transformation refers to the integration of digital technologies such as AI, ML, cloud computing, big data & analytics, mobility and social media into all areas of the businesses, to fundamentally change how the businesses operate and deliver high value to their customers. These digital technologies facilitate the transformation of business process models and help increase revenue generation for end-user companies. Customer engagement, employee empowerment, business process optimization, and product enhancement are some of the business areas transformed by digital transformation solutions.

Digital transformation has changed the way organizations interact with their employees and customers, and provided insights that are used for day-to-day decision making, thereby resulting in enhanced operational efficiency, optimized business outcomes, and increased customer satisfaction. The transformation enables innovation and creativity in a particular domain, rather than simply improving and supporting traditional methods. Digital transformation is rapidly gaining traction, as enterprises seek solutions, technologies, and platforms to transform their operating processes and business models. For example, online services are now firmly established in the banking and financial sectors, resulting in the proliferation of online activities and websites.

The report covers the competitive landscape and profiling of the major players, such as Marlabs (US), Cognizant (US), Dell EMC (US), Adobe Systems (US), Oracle (US), HPE (US), HCL Technologies (India), TIBCO Software (US), SAP (Germany), Microsoft (US), Accenture (Ireland), IBM (US), Google (US), CA Technologies (US), and Equinix (US).

These companies have adopted various strategies such as acquisitions; expansions; new product launches & product enhancements; partnerships, agreements, and collaborations to cater to the growing demand for digital transformation solutions across the globe as well as to strengthen their position in the market. These strategies have also been tracked and mentioned in the report.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers Digitalizing Organizational Business Functions to Serve Changing Customer Preferences and Enhance Operational Efficiency Rapid Proliferation of Mobile Devices and Apps Increasing Penetration of IoT and Adoption of Cloud Services Need to Improve Operational Performance to Gain Competitive Benefits in the Market
5.1.2 Restraints Security and Privacy Concerns for Confidential Data
5.1.3 Opportunities Demand for Personalized Digital Transformation Increasing Usage of Disruptive Technologies Such as AI, ML, and Big Data Focus on Collaboration Among Departments
5.1.4 Challenges Lack of Skilled Personnel Issues Related to IT Modernization
5.2 Industry Trends
5.2.1 Introduction
5.2.2 Value Chain Analysis
5.2.3 Evolution of Digital Transformation
5.2.4 Case Studies/Use Cases Case Study 1: American Telecommunication Service Provider (TSP) Collaborated With HCL to Refine Its Digital Journey Case Study 2: A Leading Logistics and Shipment Provider Deployed HCL's Digital Transformation Solution to Improve Customer Experience Case Study 3: One of the World's Leading Media Conglomerates Adopted HCL's Digital Transformation Solution to Redefine User Experience Through Human-Centric Design Case Study 4: A Leading Healthcare Company Adopted Cognizant's AI-Driven Solution to Identify Drug-Seeking Behavior Case Study 5: Cognizant's AI and Automation Solution Helps an Insurance Company to Improve Insurance Claims Process

6 Digital Transformation Market, By Technology
6.1 Introduction
6.2 Cloud Computing
6.2.1 Growing Data Security, Faster Disaster Recovery (DR), and Meeting Compliance Requirements are Driving the Growth of Cloud Computing
6.3 Artificial Intelligence
6.3.1 AI Enhances the Customer Satisfaction in the Market
6.4 Big Data & Analytics
6.4.1 Rise in the Amount of Unstructured Data From Several Sources and the Need to Optimize Large Workloads of Data has Led to Various Advancements in the Big Data & Analytics Technology
6.5 Mobility/Social Media
6.5.1 Rising Security Concerns, and Proliferation of Mobile Applications Leads to Tremendous Growth of the Mobility Market
6.6 Cybersecurity
6.6.1 Growing Cyber-Attacks, Data Breaches, and Identity Thefts Have Led to the Increased Demand for Cybersecurity Technology in the Market
6.7 Internet of Things (IoT)
6.7.1 IoT-Based Technology Solutions Enable Companies to Increase the Operational Efficiency of Their Business Processes
6.8 Others

7 Market, By Deployment Type
7.1 Introduction
7.2 On-Premises
7.2.1 Increasing Adoption of Cloud Computing Solutions has Significantly Impacted the Implementation of On-Premises Digital Transformation Solutions
7.3 Cloud
7.3.1 Easy Deployment, Low Deployment Cost and Easy Upgradeability and Accessibility has Enhanced the Organizations to Deploy the Cloud

8 Digital Transformation Market, By Business Function
8.1 Introduction
8.2 Customer Transformation
8.2.1 Growing Usage of Modern Technologies Enables Organizations to Enhance Their Customer Experience
8.3 Workforce Transformation
8.3.1 Workplace Transformation Engages to Build and Sustain A Digital Culture in the Organization
8.4 Operational Transformation
8.4.1 Modernizing of Digital Technologies and Collaborated Platforms, Have Increased the Flow of Information Across Business Operations
8.5 Product Transformation
8.5.1 Digital Transformation Technologies Helps to Transform the Entire Product Transformation

9 Market, By Vertical
9.1 Introduction
9.2 BFSI
9.2.1 BFSI Vertical Uses Digital Transformation to Make Financial Transactions Speedy, Secure, Simple, and Error-Free
9.3 Healthcare
9.3.1 Digital Transformation Solution Offers Healthcare Providers Real-Time Exchange of Healthcare Information and Enhances Medical Services
9.4 IT & Telecom
9.4.1 Digital Transformation Solutions Ensure Optimum Utilization of Resources Along With Customer Satisfaction
9.5 Manufacturing
9.5.1 Requirement for Innovative Technologies to Tackle Manufacturing Problems Due to Limited IT Resources in the Manufacturing Industry
9.6 Education
9.6.1 Adoption of Internet and Bring Your Own Device (BYOD) Trend Have Spurred Implementation of Digital Transformation Solutions in Education Industry
9.7 Retail
9.7.1 Retail Vertical Uses Emerging and Innovative Technologies to Enhance Customer Experience
9.8 Media & Entertainment
9.8.1 Increasing Penetration of Mobile Technology and Internet of Things Supports Increased Deployment of Digital Transformation in Media & Entertainment Vertical
9.9 Government
9.9.1 Digital Transformation Helps Government Agencies Introduce Paperless Processes and Save Process Time
9.10 Others

10 Digital Transformation Market, By Region

11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.2 Strength of Product Portfolio
11.3 Business Strategy Excellence
11.4 Competitive Leadership Mapping (Startup)
11.5 Market Ranking for the Digital Transformation Market, 2018

12 Company Profiles
12.1 IBM
12.2 Microsoft
12.3 SAP
12.4 Dell EMC
12.5 Google
12.6 Marlabs
12.7 Accenture
12.8 CA Technologies
12.9 Equinix
12.10 Cognizant
12.11 Adobe Systems
12.12 Oracle Corporation
12.13 Hewlett Packard Enterprise
12.14 HCL Technologies
12.15 TIBCO Software

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