Digital transformation market is anticipated to grow at a CAGR of 22.2% during the forecast period. Industry 4.0 enables autonomous decision-making processes, monitors assets, and processes in real-time, and brings more automation than in the third industrial revolution. The arrival of digital transformation in industry 4.0 to increase production capacity, improve customer service and delivery lead times, achieve higher employee satisfaction, and reduce their environmental impact is driving the growth of the global digital transformation market. Industry 4.0 is used interchangeably with the fourth industrial revolution and represents a new stage in the organization and control of the industrial value chain. For instance, in August 2021, Intel India collaborated with Society for Innovation & Entrepreneurship (SINE)-IIT Bombay to launch Plugin Alliance, a first-of-its-kind industry-technology grouping with a focus on accelerating Industry 4.0 transformation in India. Furthermore, the alliance is designed to evolve into a community with the participation of these members, representing all facets of the Industry 4.0 ecosystem.
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Among the end-users, the BFSI sub-segment is expected to hold a remarkable share in the market growth due to the increasing adoption of digital transformation strategies such as AI, RPA, and other technologies to speed up processes and serve customers during the forecast period. The repetitive nature of tasks increased the possibility of human errors through leveraging new technological tools to automate and error-proof such tasks will further drive the market growth. For instance, in June 2022, Kiya.ai launched Kiyaverse, India’s first banking metaverse which will allow banks to extend their metaverse for clients, partners, and employees, through services that will include Relationship Manager and Peer Avatars and Robo-advisors.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Digital Transformation Market Report Segment
By Component
- Solution
- Services
By Deployment
- Cloud
- On-Premise
By Technology
- Cloud-Computing
- Big Data & Analytics
- Cybersecurity
- Artificial Intelligence (AI)
- Internet of Things (IoT)
- Robotic Process Automation (RPA)
- Others (Mobility & Social Media Management & AR/VR)
By End-Users
- BFSI
- Healthcare
- IT and Telecom
- Government
- Retail & E-commerce
- Media and Communication
- Others
Global Digital Transformation Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global digital transformation market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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