North America Digital Transformation Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Component [Solutions (Cloud Computing, Big Data & Analytics, Mobility, Disruptive Technology, Social Media); Services (Professional Services, System Integration)]; by Deployment Type (On-Premises, Cloud); by End-User (Large Enterprises, Small and Medium Enterprises); Industry Verticals (BFSI, Government, Healthcare, Telecom & IT, Automotive, Retail & Consumer Goods, Media & Entertainment, Manufacturing, Other industry) and Country

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Pages:

208

Table:

106

Figure:

110

Report ID:

UMTI21291

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how organizations operate and deliver value to customers. It affects all sectors of society, in particular economies. Companies are now being provided with an opportunity to radically change their business models by new digital technologies such as social media, smartphone, big data, Internet of things and others such as AI and blockchain. This typically includes changes of the core business operations and modifies products and processes, as well as organizational structures, as companies ought to set up management practices to conduct these complex transformations. Organizations today increasingly realize they can no longer focus on just selling products; they need to sell an experience.

A study conducted by E-consultancy and Marketing Week surveyed on various marketers across the world from various sectors and revealed a dramatic shift in focus towards digital transformation because of COVID-19 pandemic. The study further showed the extent to which organizations, majorly large enterprises are relying on digital technology in response to changes in the customer behavior during the pandemic crisis. As per a report published by a top business consulting firm, companies that integrate digital technologies could secure savings of more than US$85,000 per employee per year. Schneider Electric, a French energy-management company, for example, is using AI to help its equipment automatically adapt to changing environmental conditions. This has helped the company in reducing overall downtime and improving asset utilization for its clients. Leveraging combinations of advanced digital technologies, can help businesses “continuously create new, hyper-personalized experiences in both a business-to-consumer and business-to-business context.” The Organizations with successful transformations are likelier than others to use more sophisticated technologies, such as artificial intelligence, the Internet of Things, and advanced neural machine-learning techniques.

Example of Companies Using AI and Machin Learning, US

IBM Corporation, Cognizant, SAP SE, Dell, Microsoft Corporation, Adobe Systems Incorporated, Accenture PLC, Capgemini, Oracle Corporation and Google Inc are some of the prominent players operating in the North America digital transformation market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst component, Solution segment holds the major share.”

Based on the component, the North American digital transformation market is bifurcated into Solutions and Services. The solution sub-segment is further divided into cloud computing, big data and analytics, mobility, disruptive technology, and social media. Moreover, Service segment is divided into professional services and system integration. Solution segment dominated the market and generated revenue of US$ 423.2 billion in 2020. However, Service segment is expected to witness highest CAGR growth of 16.43% during the forecast period (2021-2027).

“Amongst deployment type, cloud dominated the market in 2020.”

Based on Deployment type the market is segmented into On-premises and cloud deployment. Currently, cloud deployment model dominated the market and generated revenue of US$ 324.5 billion in 2020.

“Amongst End-user, large enterprises are expected to dominate the market during the analyzed period.”

Based on end-user the North American digital transformation market is bifurcated into large enterprises and SME’s. Owing to high cost of digital technology deployment large enterprise invested most on digital technology. The segment generated revenue of US$ 333.3 billion in 2020.

“Amongst industry verticals, Banking Financial Services & Insurance dominated the market in 2020.”

Based on industry vertical, the market is fragmented into BFSI, healthcare, telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government, and others. In the BFSI industry, digital transformation helps to make financial transactions speedy, secure, simple, and error-free. BFSI generated highest revenue of US$135.6 billion in 2020.

“United States represents as the largest markets in the North America Digital Transformation market.”

For better understanding of the market penetration of digital transformation, the report provides detailed analysis of major countries including North America (US, Canada, Rest of North America). Some of the major players operating in the market include IBM Corporation, Cognizant, SAP SE, Dell, Microsoft Corporation, Adobe Systems Incorporated, Accenture PLC, Capgemini, Oracle Corporation and Google Inc.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive country level analysis of the industry

Customization Options:

The North American Digital Transformation Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

1.1.Market Definitions
1.2.Limitation
1.3.Stake Holders
1.4.Currency Used in Report
1.5.Scope of the North America Digital Transformation Market Study
2.1.Research Process
2.2.Research Methodology for the North America Digital Transformation Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the North America Digital Transformation Market
5.1.Market Drivers
 5.1.1.Rapid Digitalizing Business Operations
 5.1.2.Proliferation of Smartphone and Mobile Application
 5.1.3.Penetration of IoT and Adoption of Cloud Services
5.2.Market Challenges
 5.2.1.Security and Privacy Concerns
 5.2.2.High Upfront Cost and Other Issues related to IT adoption.
5.3.Market Opportunity
 5.3.1.Increasing Usage of Disruptive Technologies Such as AI, ML, and Big Data
6.1.United States
6.2.Canada 
7.1.Demand Side Analysis
7.2.Supply Side Analysis
 7.2.1.Top Product Launches
 7.2.2.Top Partnerships
 7.2.3.Top Business Expansions, Investments and Divestitures
 7.2.4.Top Merger and Acquisitions
8VALUE CHAIN ANALYSIS
9.1.Solution
 9.1.1.Cloud Computing
 9.1.2.Big Data & Analytics
 9.1.3.Mobility
 9.1.4.Disruptive Technology
 9.1.5.Social Media
9.2.Services
 9.2.1.Professional Services
 9.2.2.System Integration
10.1.On-premises
10.2.Cloud Deployment
11.1.Large Enterprise
11.2.Small & Medium Enterprise
12.1.BFSI 
12.2.Government
12.3.Healthcare
12.4.Telecom & IT
12.5.Automotive
12.6.Education
12.7.Retail & Consumer Goods
12.8.Media & Entertainment
12.9.Manufacturing
12.10.Other Industries
13.1.North America Digital Transformation Market 
 13.1.1.United States
 13.1.2.Canada
 13.1.3.Rest of North America
14.1.Porters Five Forces Analysis
14.2.North America Digital Transformation Market Share, by Company 2019 (%)
14.3.North America Cloud Infrastructure Service Spending, by Company Q4 2020
15.1.IBM Corporation
15.2.SAP SE 
15.3.Google Inc.
15.4.Oracle Corporation
15.5.Microsoft Corporation
15.6.Dell Ems
15.7.Adobe Systems Incorporated
15.8.Accenture PLC
15.9.Capgemini
15.10.Cognizant
16DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the North America Digital Transformation Market were the three major steps undertaken to create and analyze the adoption of Digital Transformation across various industry verticals in major North American countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the digital transformation sector. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Digital Transformation through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Digital Transformation market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as component, deployment type, end-user, and industry verticals. Further country-level analyses were conducted to evaluate the overall adoption of the Digital Transformation in the North American region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Digital Transformation. Further, we conducted factor analysis using dependent and independent variables such as growth of penetration of digital transformation across different industry, digitalizing business functions. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the Digital Transformation industry.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the North American Digital Transformation market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major countries in the North America region. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Digital Transformation across the major markets
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Digital Transformation market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the North American Digital Transformation market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of component, deployment type, end-user, and industry verticals.

The main objective of the Digital Transformation Market Study

The current & future market trends of Digital Transformation were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Digital Transformation in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of component, deployment type, end-user, and industry verticals
  • Defined analysis of the regulatory framework for the Digital Transformation industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Digital Transformation for the major countries
  • Major countries studied in the report include North America (the U.S., Canada, and Rest of North America)
  • Company profiles of the Digital Transformation market players and the growth strategies adopted by them to sustain in the fast-growing market
  • Deep dive country level analysis of the industry