Digital Transformation Market Size, Share, Growth Analysis, By Offering(Solution (Software solution, Hardware Solution, Platform solution), and Services (Consulting Services), By Technology(Cloud Computing, Artificial Intelligence, Big Data & Analytics, Blockchain), By Deployment Mode (Cloud, On-premises), By Business Function (Accounting & Finance, IT & Operations, Information Technology, Human Resources), By Enterprise Size (Large Enterprise, and Small & Medium Enterprise), By Verticals(BFSI (Fraud Detection and Prevention, Asset and Investment Management, Customer Service Automation (Chatbots), Personalized Financial Recommendations), By Region - Industry Forecast 2024-2031

Digital Transformation Market size was valued at USD 561.19 Billion in 2022 poised to grow from USD 695.88 Billion in 2023 to USD 3889.60 Billion by 2031, growing at a CAGR of 24% in the forecast period (2024-2031). 

The use of mobile devices and apps, together with the increasing acceptance of industrial robots, are the main factors propelling the growth of the global digital transformation market. A key driver of growth for the digital transformation sector is the increasing use of industrial robots. On account of their complex sensors, artificial intelligence and network abilities, manufacturing and industrial robots are now operating in entirely different environments, especially when compared with other forms of production. These systems facilitate processes, increase productivity, and consequently prepare way for broader digital revolution in various industries. In addition, it is believed that the growth in adoption of digital experience platforms (DXPs) with an aim of satisfying consumers’ needs is one among the major forces driving the market. 

However, it is anticipated that worries about data security and privacy related to digital technologies may impede industry expansion. The extensive use of digital transformation in the healthcare sector is a significant driver of the global digital transformation market growth. Due to the rising trend of telehealth and remote monitoring systems for patients, health workers can connect with their clients from any part of the world. Connectivity and sophisticated digital technology are needed for this shift in the way healthcare is delivered. Therefore, it is anticipated that these factors will propel market expansion throughout the projected time.