"Emerging Technologies and Trends: A Closer Look at the Future of Digital Transformation Market"

August 29, 2023

August 29^th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Digital Transformation Market.

The Digital Transformation Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The Global Digital Transformation Market is expected to grow from USD 467.54 billion in 2021 to USD 1,604.54 billion by 2028 at a CAGR of 19.3% during the forecast period. The development of autonomous and connected automobiles, the growing aim to prevent road accidents, and technological improvements in the entire automotive industry are all driving the driver monitoring system (DMS) market forward. Customers' growing awareness and expectations regarding safe driving have also contributed to the market growth. Many governments throughout the world are enforcing strict rules and regulations on driver, passenger, and pedestrian safety

Segment Analysis

Mobility & social media hold the largest market share over the forecast period

Enterprises are nowadays rethinking their mobility strategies in the broader context of digital transformation as they see mobility as a critical component of digital transformation and depend on it to enhance information access, process efficiency, employee productivity, and decrease operational costs.

By strengthening customer service initiatives, improving the credibility of an online brand, and more, social media also helps businesses initiate digital transformation projects or bring in new strategies and enhance the success of technological developments. During the forecast period, this segment is expected to witness the largest market share. Also, it is expected to register a higher CAGR during the forecast period in the APAC region.

Solutions segment to hold the largest market share over the forecast period

To modernize the process and meet the growing demand, digital transformation technologies are being used across all industry verticals. The customer experience is very crucial with digital content. Thus, one of the key goals of digital transformation is to enhance customer experience and use it to gain a competitive edge.

It could be enhanced by several things, such as the use of chatbots for delivering quick customer service 24 hours a day, the collection of data on customer behavior to better understand their needs and problem areas, and the creation as well as optimization of the customer’s path to deliver value quickly and easily. The solutions segment is anticipated to witness the largest market share over the forecast period and is expected to witness a higher CAGR.

North America to hold the largest market share over the forecast period

North America is expected to witness the largest market share in the global digital transformation market. The fast adoption of digital transformation technologies across different industry verticals, including manufacturing and healthcare, is boosting this market’s expansion in the region. The rapid adoption of modern and innovative technologies has been very well received in this region. Because of the significant growth in IT device-based data generation and strict laws and policies for data security, this region may offer significant opportunities to digital transformation solution providers.

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Features of the Report

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Digital Transformation Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors 

About Stratview Research

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

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Author : Emily