The global digital transformation market is expected to gain impetus from the emergence of industrial automation in a wide range of industries. Robots are able to control several core industrial processes efficiently. Fortune Business Insights™ published this information in a new report, titled, “Digital Transformation Market, 2021-2028.” The report further states that digital transformation market size was USD 737.88 billion in 2020 and is projected to reach USD 3,546.80 billion by 2027, exhibiting a CAGR of 22.1% during the forecast period. The expansion of the automotive industry worldwide would result in the rising implementation of industrial robotics. The International Federation of Robotics (IFR), for instance, declared that in 2017, around 2.1 million stand-alone automotive and industrial robots were installed worldwide.
A list of all the prominent digital transformation service providers operating in the market:
- Amazon Web Services (Washington, United States)
- Oracle Corporation (California, United States)
- Microsoft Corporation (Mexico, United States)
- VMware, Inc. (California, United States)
- SAP SE (Walldorf, Germany)
- IBM Corporation (New York, United States)
- Salesforce.com Inc. (California, United States)
- HCL Technologies Limited (Noida, India)
- Wipro Limited (Bengaluru, India)
- Accenture plc (Dublin, Ireland)
- Cisco Systems, Inc. (California, United States)
- Teradata Corporation (California, United States)
- Cloudera, Inc. (California, United States)
- Tableau Software (Washington, United States)
- Huawei Technologies Co., Ltd. (Shenzhen, China)
- Apple Inc. (California, United States)
- NVIDIA Corporation (California, United States)
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REPORT COVERAGE-
DRIVERS & RESTRAINTS-
Increasing Adoption of Cloud Computing &
Big Data to Favor Growth
Several
enterprises are slowly entering into a new customer engagement era stoked by
the evolving regulatory environment and rapid technological changes. In this
era, digital technologies are considered to be essential. Hence, these
companies are adopting artificial intelligence, cloud computing, and big data
technologies to bolster the organizational growth. They are striving to change
conventional business models to modern strategies. However, the increasing
risks of security breaches and cyber-attacks may hinder the digital
transformation market growth in the near future.
Read a Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/digital-transformation-market-104878
COVID-19 IMPACT-
COVID-19 Pandemic: Shutdown of Manufacturing
Facilities to Obstruct Growth
The COVID-19
pandemic has affected the economic scenario across the globe on account of the
nationwide lockdown measures. In the first quarter of 2020, the digital
transformation industry exhibited a mixed impact owing to the gradual slowdown.
Several companies have shut down their manufacturing facilities. But, the
industry will gradually gain traction as more companies are adopting unique
technologies, such as industrial robots and clouds. We are offering accurate
research reports to help you better understand the current scenario.
REGIONAL INSIGHTS-
Rising Penetration of Internet to Accelerate
Growth in North America
Geographically,
North America generated USD 234.73
billion in 2020. It is expected to remain at the forefront fueled by the
increasing penetration of the internet in a wide range of industry verticals,
such as manufacturing, retail, and healthcare. On the other hand, Europe is
anticipated to grow significantly on account of the rapid digitalization in
economies and societies. In Asia Pacific, the digital transformation industry
is likely to grow remarkably attributable to the need to automate
labor-intensive tasks by using robots in China.
COMPETITIVE LANDSCAPE-
Key Players Aim to Fulfil Demand by Introducing
State-of-the-art Solutions
The global
market possesses a large number of companies that are majorly focusing on
launching innovative solutions to cater to the specific requirements of users.
Below are the two latest industry developments:
- October 2020: Oracle launched its Oracle Cloud
Observability and Management Platform. This would aid customers to remove the
cost, risk, and complexity associated with managing on-premises and multi cloud
environments.
- February 2019: SAP SE introduced SAP Leonardo Internet of
Things (IoT) capabilities. These would drive and generate digital
transformation for Industry 4.0 and Industrial IoT. The company also unveiled
cloud-to-cloud interoperability with Microsoft Azure IoT Hub.
The global Construction Market size reached USD 12,639.41 Billion in 2020 and is expected to register a CAGR of 7.4% during the forecast period. Increasing urbanisation due to growing population globally with rise in disposable income is expected to drive global construction market revenue growth over the forecast period. In addition, rapid technological advancements in infrastructure development with growing demand for environment-friendly buildings with low carbon footprint are other key factors augmenting growth of the global construction market. Another factor expected to propel construction market growth is improving economic conditions in developing countries thus resulting in rising disposable income among consumers and increasing government investment on public infrastructure.
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