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SAN FRANCISCO, Feb. 23, 2022 /PRNewswire/ --The global digital transformation market size is estimated to reach USD 1,759.4 billion by 2028, registering a CAGR of 23.6% over the forecast period, according to a new report by Grand View Research, Inc. The increasing adoption of advanced technologies, such as the Internet of Things (IoT) and machine learning, across several industries/sectors, is encouraging businesses to implement connected, analytical, and data-rich solutions via digital transformation. These solutions are capable of encapsulating intelligence into business operations to facilitate improved and more effective customer engagements. Moreover, the growing usage of mobile devices, smartphones, and applications across business functions is increasingly promoting digitization.

Key Insights & Findings from the report:

Read 110-page market research report, "Digital Transformation Market Size, Share & Trends Analysis Report By Type (Solution, Service), By Deployment (Hosted, On-premise), By Enterprise Size (Large, SME), By End Use (BFSI, Healthcare), And Segment Forecasts, 2021 - 2028", published by Grand View Research.

Digital Transformation Market Growth & Trends

Digital transformation enables organizations to mitigate business risks and manage disruptions, such as corporate restructuring, marketplace fluctuations, unforeseen pandemics, and unpredictable geopolitical environments, more efficiently. It enables organizations to address a range of process optimization. Moreover, it enables businesses to target a larger customer base by designing new business models, products, and services leveraging digitization. Furthermore, it helps facilitate the transformation of business activities, traditional processes, and business models to benefit from upcoming changes and opportunities pertaining to futuristic technologies.

The rapid urbanization and digitization across the globe are enabling organizations to embrace digital transformation using technology-driven solutions. The growing usage of cloud technology by various Small & Medium Enterprises (SMEs) helps them adopt modern Digital Experience Platforms (DXP) at reasonable costs without constant upgradation or replacement of systems. This is estimated to drive the market during the forecast period. Moreover, benefits, such as improvements in operational flexibility and overall customer experience, are encouraging digital transformation initiatives across SMEs, driving the market.

Digital Transformation Market Segmentation

Grand View Research has segmented the global digital transformation market on the basis of type, deployment, enterprise size, end-use, and region:

Digital Transformation Type Outlook (Revenue, USD Billion, 2016 - 2028)

Digital Transformation Deployment Outlook (Revenue, USD Billion, 2016 - 2028)

Digital Transformation Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2028)

Digital Transformation End-use Outlook (Revenue, USD Billion, 2016 - 2028)

Digital Transformation Regional Outlook (Revenue, USD Billion, 2016 - 2028)

List of Key Players of Digital Transformation Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

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SOURCE Grand View Research, Inc.

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Digital Transformation Market Size Worth $1,759.4 Billion By 2028: Grand View Research, Inc. - PRNewswire