Deep Analysis of Impact of COVID-19 on “Digital Transformation Market 2019-2025” Growth Worldwide….



The global digital transformation market is expected to reach USD 798.44 billion by 2025, according to a new study by Grand View Research, Inc. The increasing necessity for the introduction of innovative solutions that are capable of engaging customers or employees to integrate process, data, IT and business and the increasing demand for the adoption of Internet of Things (IoT) are propelling market growth.
Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.
Digital transformation allows organizations to tackle disruptive changes such as marketplace fluctuation, and corporate restructuring, among others, occurring in their markets and customer base by designing new products, services, and business models leveraging digitalization. These newly designed solutions are generally a mix of digitally stored historical information about business activities and the customers Furthermore, they facilitate the transformation of traditional processes, business activities, and models to take advantage of the upcoming changes and opportunities of digital technologies.
Moreover, factors such as optimization of end-to-end customer experience and improvement in operational flexibility are promoting the growth of digital transformation along with the recognition of new revenue sources.
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https://www.grandviewresearch.com/industry-analysis/digital-transformation-market/request/rs1
The global digital transformation market size was valued at USD 177.27 billion in 2016 and is expected to gain traction over the forecast period. The growing demand for the adoption of the Internet of Things (IoT) across industries is promoting the introduction of connected and data-rich solutions. These solutions are capable of embedding intelligence into business operations to facilitate better and more effective customer engagements. Moreover, growing usage of smartphones, mobile devices, and applications is promoting digitization.

Further key findings from the study suggest:
·         The hosted deployment segment is anticipated gain momentum owing to advantages such as convenience, lower cost, and better security. The segment is estimated to grow at a CAGR of 22.3% over the forecast period
·         The healthcare segment is presumed to find the highest growing application and is estimated to grow at CAGR of 19.5% over the next eight years. This can be attributed to the increasing focus of the healthcare providers towards improving the patient care by implementing digital process and technology
·         North America accounted for the largest share in 2016 owing to growing customer interaction through smart devices such as tablets, smartphones, and phablets, among others in this region
·         Furthermore, the presence of leading players such as IBM Corp., CA Technologies, and Hewlett Packard Enterprise Co, among others in the North American region is a key factor contributing to the regional market dominance
·         The Asia Pacific regional market is expected to grow at the highest CAGR over the next eight years. This can be attributed to the growing demand for the application of the Internet of Things.
·         The key industry participants include SAP SE, IBM Corporation, Oracle Corporation, Google Inc., Dell EMC, Hewlett Packard Enterprise Co., CA Technologies, Microsoft Corporation, Adobe Systems Incorporated, Accenture plc, Capgemini Group, Apple Inc., and Kellton Tech Solutions Ltd.
Digital transformation supports organizations in mitigating risks and handling disruption such as marketplace fluctuation, corporate restructuring, and geopolitical environment that are unanticipated, and can lead to unpredictable results. Furthermore, shifting from traditional to new digitalized business models facilitates the introduction of more technologically advanced products and services.
Digital transformation holds the potential to streamline and integrate all business operations for increasing the business performance efficiency. It helps organizations in streamlining their operations to save time, efforts, and money by replacing traditional processes with automation, thus lowering the rate of errors by users.
Digital transformation supports organizations in improving their brand’s reputation, customer experience, and customer retention ratios through the implementation of software. These software’s help organizations in educating and training their internal teams about various aspects of their organizations. Moreover, digitally transformed organizations are able to adapt to the evolving technological landscape and are able to tackle sudden shifts in the industry.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-digital-transformation-market
Grand View Research has segmented the global digital transformation market on the basis of type, deployment, enterprise size, end-use:
Type Scope (Revenue, USD Billion; 2014 - 2025)
·         Solution
o    Analytics
o    Cloud Computing
o    Mobility
o    Social Media
o    Others
·         Service
o    Professional Services
o    Implementation & Integration
Deployment Outlook (Revenue, USD Billion; 2014 - 2025)
·         Hosted
·         On-premise
Enterprise Size Outlook (Revenue, USD Billion; 2014 - 2025)
·         Large Enterprise
·         Small and Medium Enterprise
End-use Outlook (Revenue, USD Billion; 2014 - 2025)
·         BFSI
·         Government
·         Healthcare
·         IT & Telecom
·         Manufacturing
·         Retail
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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