Global Digital Transformation Market Report 2023: Digitizing Enterprise Business Functions Drives Growth

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Apr 25, 2023, 14:45 ET

DUBLIN, April 25, 2023 /PRNewswire/ -- The "Digital Transformation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028 Segmented By Technology (Data Analytics, Cloud Computing, AI, IoT, and Block Chain),By End Use, By Deployment, By Region, Competition" report has been added to ResearchAndMarkets.com's offering.

The global digital transformation market is expected to thrive during the forecast period 2023-2028.

Companies Mentioned

Amazon Web Services
Oracle Corporation
Microsoft Corporation
SAP SE
IBM Corporation
Salesforce.com Inc.
HCL Technologies Limited
Wipro Limited
Accenture plc
VMware, Inc.

With rising internet penetration, businesses are using digital technology to expand their geographic footprint and customer base. The latest technologies include interactive chatbots, cloud computing, and blockchain technology to help businesses track target customers and increase customer retention.

Moreover, the increasing use of cloud-based platforms is driving the demand for cloud-based software solutions and services among SMEs due to their advantages, such as flexibility and mobility. Cloud-based business software services include data backup, data security, and system upgrades.

Digital transformation across industries addresses several global issues within industries, including companies modernizing their supply chains, data-driven planning, and helping companies gain a competitive advantage over their competitors.

Through the software, digital transformation enables businesses to enhance their brand presence, customer experience, and customer retention rates. Organizations are gradually implementing digitalization to succeed in the rapidly changing technology world and address abrupt changes in the sector.

Internet Of Things Development

IoT is fueling the expansion of digital transformation across sectors. To increase productivity and decrease downtime, it transforms how industries approach the increasingly complex systems and machines they use. Smart industrial automation, also known as Industry 4.0 and IoT is a new technical technique for creating, managing, and controlling the entire logistical chain. IoT integration is considerably growing in popularity since it offers outstanding advantages.

Manufacturing organizations can benefit from real-time warnings and information provided by IoT. This may reduce operational time while also improving productivity and efficiency. IoT implementation is expected to increase during the forecast period owing to favorable market trends and its growing use across numerous industries.

Moreover, IoT technology is one of the most significant technological advancements for digital transformation that can potentially change their sector. IoT has grown to play a significant role in the digital transformation of the public sector, including new initiatives and ongoing city transformation to keep up with the rapid pace of the digital era.

Digitizing Enterprise Business Functions

Advanced technologies such as cloud, IoT, big data and analytics, mobility, and social media are driving innovation and changing the business landscape, leading to increased revenue. Digital transformation is about introducing digital technology into your business processes to change how you use technology and resources to deliver better value to your customers.

Companies worldwide are accelerating their digital transformation through migration to the cloud, modernization of legacy IT infrastructure, IoT, and more. For example, major cloud providers such as Microsoft Azure, Google Cloud, and Amazon Web Services (AWS) are investing billions of dollars in upgrading their cloud infrastructure to improve redundancy and security and expanding business functionality.

Report Scope:

In this report, the Global Digital Transformation Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Digital Transformation Market, By Technology:

Data Analytics
Cloud Computing
AI
IoT
Block Chain

Digital Transformation Market, By End Use:

Healthcare
Government
BFSI
Retail
Manufacturing
Telecom & IT
Others

Digital Transformation Market, By Deployment:

Cloud
On-premises

For more information about this report visit https://www.researchandmarkets.com/r/jaiog9

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