Digital Transformation MARKET FORECASTS TO 2027 | DRIVERS AND OPPORTUNITIES | KEY PLAYER ANALYSIS BM, Microsoft

According to Stratistics MRC, the Global Digital Transformation Market is accounted for $530.55 billion in 2021 and is expected to reach $2,026.45 billion by 2028 growing at a CAGR of 21.1% during the forecast period. Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how an enterprise operates and delivers value to customers. It is also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure. Digital transformation is the use of digital technology to redesign a process in order to make it more efficient. It aims to utilize technology to convert a current service into something considerably better.

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North America is projected to hold the largest market share owing to high penetration of internet services and wide usage of a variety of online payment methods in the retail sector. The presence of key market players engaged in digital transformation solutions in North America will drive the regional market growth over the forecast years. Moreover, high demand for software and advanced robotic solutions, owing to extensive technology penetration across the retail, manufacturing, and automotive industries in the U.S. and Canada is expected to propel the regional market growth. Key factors favoring the growth of the digital transformation market in North America include the increasing technological advancements in the region.

Some of the key players profiled in the Digital Transformation Market include BM, Microsoft, SAP, HPE, Accenture, Google, Oracle, Adobe, Cognizant, HCL Technologies, Dell, Tibco Software, Broadcom, Marlabs, and Equinix.

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