Sarasota, FL, Nov. 24, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Digital Transformation Market (Cloud Computing, Big Data, Mobility, & Social Media) for Banking and Financial Services, Telecom and IT, Healthcare, Government, Automotive, Government, Manufacturing and Retails and Other application: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015-2021”. According to the report, global demand for digital transformation market was valued at around USD 150.50 billion in 2015 and is expected to reach approximately USD 431.71billion in 2021, growing at a CAGR of slightly above 19.2% between 2016 and 2021.
Digital revolution is transforming many aspects of business and even whole industries. Digital transformation is the use of digital technologies such as social media, mobility, analytics, and more. These technologies may use by enterprises to improve or add more features to their traditional business processes and also to maintain customer relationships. Digital transformation is the outcome of changes that occur with the application of advanced digital technologies.
Browse through 18 Market Tables and 29 Figures spread over 110 Pages and in-depth TOC on “Global Digital Transformation Market: By Solutions, Deployment, Verticals, Size, Share, Industry Segment, Analysis and Forecast 2015-2021”.
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Enterprises such as Google, Apple, SAP AG are investing shares in research and development for increasing shares and the organic growth of their company. Therefore battle of gaining brand positioning and creation of strong brands has become a core factor to fuel the digital transformation market. These prominent enterprises providing digital transformation solutions are developing new products or enhancing their products and service offerings to satisfy the increasing customer demand. This strategy allows these companies to validate the technology and attract new customers and hold traditional customer.
In the retail sector, rising internet usage and mobile application emerging the demand of digital transformation. Technological advancements in digital electronics coupled with their increasing application in various industries such as construction and automotive are expected to augment the market growth over the forecast period. Growing market for augmented reality devices such as heads-up displays, eyeglasses, and spatial augmented reality is anticipated to drive digital transformation market.
Browse the full "Digital Transformation Market (Cloud Computing, Big Data, Mobility, & Social Media) for Banking and Financial Services, Telecom and IT, Healthcare, Government, Automotive, Government, Manufacturing and Retails and Other application: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015-2021" report at https://www.zionmarketresearch.com/report/digital-transformation-market
In terms of revenue, North America held the largest share of the global market in 2015 and is set to continue to dominate the world marketplace within the coming years. U.S. held the major market share in North America. Factors such as high Internet penetration and growing online payment options have played the significant role in escalating the digital transformation market growth in the region.
Europe is another leading regional market and is expected to witness noteworthy growth in the near future. The market growth is mainly due to the rising demand of from retail application sectors. Emerging technologies coupled with significant cost reductions in cloud deployment models are some of the major contributing factors to the growth of digital transformation market in Europe.
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Asia Pacific is expected to be the fastest-growing region for digital transformation market. This growth is mainly attributed to the booming service sector in countries like China and India. Rising demand from small and midsized companies and increasing demand from banking and financial service sectors for fraud detection and management is driving the adoption of digital transformation. Further, substantial demand and positive outlook from consumer goods and retails application sectors due to the huge amount of data generation are expected to surge the market growth in this region.
The developing economies in Latin America also have a potential market for the growth of the digital transformation. Demand for big data analytics and business analytics are the key growth factors expected to contribute to the growth of the digital transformation market in Latin America. The Middle East and Africa is also expected to be one of the fastest growing regional markets for digital transformation in the coming years.
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The major vendors in the digital transformation market are Apple, Oracle Corporation, IBM Corporation, EMC Corporation, SAP AG, CA Technologies, Adobe Systems, Microsoft Corporation, Hewlett-Packard (HP), and Google among others.
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The report segments of global digital transformation market as follows:
Global Digital Transformation Market: Solution Segment Analysis
- Cloud computing
- Big data
- Mobility
- Social media
Global Digital Transformation Market: Solution Deployment Analysis
- On-premises
- Hosted
Global Digital Transformation Market: Vertical Segment Analysis
- BFSI
- Healthcare
- Telecom and IT
- Automotive
- Retail
- Manufacturing
Global Digital Transformation Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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