Digital Transformation Market

Market Leader - Digital Transformation Market

The digital transformation market size is estimated to be USD 205.99 Billion in 2017 and is projected to reach USD 493.39 Billion by 2022, at a CAGR of 19.1% during the forecast period. Some of the major factors driving the digital transformation market include innovation in businesses, changing customer preferences, the rapid proliferation of mobile devices & apps, increasing penetration of IoT, and rising adoption of the cloud platform.

Technological giants, such as Cognizant (US), SAP (Germany), Dell EMC (US), Microsoft (US), Adobe Systems (US), Accenture (Ireland), Capgemini (France), IBM (US), Oracle (US), Google (US), HPE (US), and CA Technologies (US) offer digital transformation solutions and services to cater to the needs and demands of the market. These market players have adopted various growth strategies, such as expansions, contracts, mergers & acquisitions, partnerships, and new product launches to enhance their share in the digital transformation market. Partnerships and acquisitions accounted for more than half of all the growth strategies adopted by the major market players.

IBM focuses on both inorganic and organic strategies, such as partnerships, collaborations, agreements, contracts, and new solution launches, to achieve growth in the digital transformation market. For instance, in June 2017, the company partnered with American Airlines (US) to help the Airlines transform and enhance its business processes with better customer experiences through the IBM Cloud. IBM also partnered with Finastra (UK) in June 2017, to accelerate digital transformation in banking operations using IBM Cloud and Cognitive technologies. Earlier, in March 2017, IBM and Cisco announced new solutions for VersaStack, a jointly developed converged infrastructure. The new solutions offer various benefits to IT organizations, such as improved manageability, recovery, and storage of data; and simplified & standardized service delivery through infrastructure automation.

Microsoft majorly focuses on inorganic growth strategies to gain a competitive advantage in the digital transformation market. For instance, in May 2017, it entered into a partnership agreement with Dell EMC (US) in which the Dell EMC Cloud, a new cloud platform, will be provided for the Microsoft Azure Stack. Earlier in April 2017, Microsoft also partnered with Maersk, an integrated transport & logistics company. Through this partnership, the Microsoft Azure digital platform will empower Maersk’s app store, thus helping enhance business model innovations.

Related Reports:

Digital Transformation Market by Component (Solution (Cloud Computing, Big Data & Analytics, Mobility, Disruptive Technologies, and Social Media) and Service), End User, Deployment Type (On-premise and Cloud), Vertical, and Region - Global Forecast to 2022

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Report Code
TC 3447
Published ON
Sep, 2017
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