The global digital transformation market was valued at USD 998.99 billion in 2020 and is expected to reach a value of USD 2744.68 billion by 2026, at a CAGR of 18.5% over 2021-2026. Digital Transformation refers to the use of digital technology to solve traditional problems. Shifting from conventional to new digitalized business models facilitates the introduction of more technologically advanced products and services.
Digital transformation helps organizations in improving their brand’s reputation, customer experience, and customer retention ratios through the implementation of the software. Digitally transformed organizations can adapt to the evolving technological landscape and can tackle sudden shifts in the industry.
- Digital Transformation refers to the use of digital technology to solve traditional problems. Shifting from conventional to new digitalized business models facilitates the introduction of more technologically advanced products and services. Digital transformation helps organizations in improving their brand’s reputation, customer experience, and customer retention ratios through the implementation of the software. Digitally transformed organizations can adapt to the evolving technological landscape and can tackle sudden shifts in the industry.
- Companies are building a robust infrastructure due to increased demand, and there is increased adoption of new technologies and solutions, further supporting the market growth. Due to growing competition within the industries, investments in technology are further increased to gain a competitive edge in the market. Owing to the integration of AI, machine learning, and rapid deployment of IoT and connected infrastructure, the market is expected to witness rapid growth over the forecast period.
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