HOME › Research Insight › The increasing trend in adoption of advanced technologies as well as mobile devices by enterprises globally is fueling the growth of the digital transformation market.
The increasing trend in adoption of advanced technologies as well as mobile devices by enterprises globally is fueling the growth of the digital transformation market.
The increasing demand of Internet of Things, increased innovation offered by digitalization techniques, and increasing number of mobile devices and apps are the factors driving the growth of the digital transformation market. Enterprises have realized the potential, opportunities, and benefits provided by digitalization. With the help of big data and Business Intelligence (BI) provided through digitalization, organizations are able to create new products and services, enhance existing ones, and formulate entirely new business models to gain a competitive edge. The increasing trend in adoption of advanced technologies as well as mobile devices by enterprises globally is fueling the growth of the digital transformation market. The market is projected to grow at a CAGR (Compound Annual Growth Rate) of 18.7% during the forecast period from 2016-2021.
Various vendors prevailing in this market space include SAP AG (Germany), IBM Corporation (U.S.), Oracle Corporation (U.S.), Google, Inc. (U.S.), Dell EMC Inc. (U.S.), Hewlett-Packard (HP) (U.S.), CA Technologies (U.S.), Microsoft Corporation (U.S.), Adobe Systems (U.S.), Accenture PLC (Ireland), Capgemini (Paris), Apple, Inc. (U.S.), and KelltonTech (U.S.). Players in this market have adopted different strategies to extend their worldwide presence and expand their market share. Partnerships, acquisitions, and new product launches are some of the significant strategies adopted by the market players to accomplish development in the digital transformation Market. SAP AG, IBM Corporation, Oracle Corporation, and Google, Inc. have adopted these strategies to expand their product portfolio.
SAP AG is one of the leading players in the digital transformation market. The company has adopted both organic as well as inorganic strategies to enhance its presence in this market space. The company has done partnerships and strategic alliances with local as well as global players. Along with this, the company has acquired few renowned players, such as Concur Technologies, Inc. (U.S.). This acquisition was aimed at delivering on-demand employee spends management solution.
IBM Corporation is another major leading provider of digital transformation solutions. It is a leading provider of various software, solutions, and services to its clients across the globe. IBM’s IT, business service, and software units are leaders in various markets, including cloud computing, big data, analytics, mobility, IT outsourcing, and others. The company operates through five segments, namely, global technology services, global business services, software, systems and technology, and global financing. The company focuses more on inorganic growth to tap into the digital transformation market. It acquired Silverpop to enhance its capabilities across email execution, B2B marketing, with B2B marketing tools such as lead scoring and lead nurturing.
Digital Transformation Market by Solution (Cloud Computing, Big Data, Mobility, and Social Media), Service (Professional and System Integrators), Business Type (B2B, B2B2C, & B2C), End User, Deployment type, Vertical, and Region - Global Forecast to 2021
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