The Asia Pacific Digital Transformation Market would witness market growth of 22.7% CAGR during the forecast period (2021-2027).
Digital transformation is considered as the incorporation of digital technologies into every business functional area of a company that basically modifies how businesses work and offer value to their customers. The wide-scale installation of sophisticated technologies like robotics, IoT, AI, and others among various industrial verticals is expected to accelerate the demand for the digital transformation market. Companies are switching to technologically advanced business models from conventional business models in order to accelerate the development of digital platforms that would boost performance efficiency. Leading players working in the market are taking many initiatives with an aim to assist customers to adopt digital solutions, hence, boosting the growth of the market.
For example, the demands of business and the complicated developments of information technology are consistently evolving and are expected to a major contributor to the digital transformation. Industrial robotics is crucial in industrial automation as robots dominate a broad range of core industrial processes. Makers and production enterprises are highly implementing robotics to streamline replicated operations with the increasing demand across economies. The growth of the automotive sector would extremely contribute to the huge growth in the installation of industrial robotics.
In the Asia-Pacific region, nations like India, China, and Japan, among others are constantly involved in creating pertinent strategies and policies with an aim to promote local restricting and upgrading for digital transformation. For example, the adoption and pace of automation in China is higher than any other country around the world, as China aims to modernize its processes and sustain itself in the global market, as its middle-class population continues to increase and wages are increasing rapidly.
Moreover, there are low numbers of companies in the country that install factory and process automation technologies and robotics in comparison to the huge size of China’s manufacturing industry and the number of workers it deploys. This factor is creating a huge growth opportunity for the players operating in the digital transformation market in China.
The China market dominated the Asia Pacific Small & Medium Enterprises Digital Transformation Market by Country 2020, thereby, achieving a market value of $37,966.7 million by 2027. The Japan market is exhibiting a CAGR of 23.9% during (2021 - 2027). Additionally, The India market is anticipated to grow at a CAGR of 25.2% during (2021 - 2027).
Based on Component, the market is segmented into Solution and Services. Solution segment is further bifurcated into Analytics, Cloud Computing, Mobility & Social Media and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Government & Defense, IT & Telecom, Healthcare, Manufacturing, Consumer Goods & Retail and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Digital Transformation Market is Projected to reach USD 1,302.9 Billion by 2027, at a CAGR of 20.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Accenture PLC, Hewlett Packard Enterprise Company, HCL Technologies Ltd. (HCL Enterprises), Equinix, Inc., Adobe, Inc., Cognizant Technology Solutions Corporation, Microsoft Corporation, SAP SE, and Oracle Corporation.
By Component
By Deployment Type
By Enterprise Size
By End User
By Country
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