The Europe Digital Transformation Market would witness market growth of 19.9% CAGR during the forecast period (2021-2027).
The emerging innovation in Industry 4.0 has supported the new developments, such as collaborative robots, SCARA robots, single-axis robots, and AI-powered robots. They have enabled the robotic industry to simplify various processes, enhance efficiencies, and cut down the number of errors. Companies are putting massive investments in robotic systems due to the higher safety at the workplace and increasing manufacturing capability. Therefore, industrial robotic technology will be a new trend in the digital transformation market.
One of the catalysts for the growth of the digital transformation market is the rising demand for industrial automation. The increasing deployment of wireless communication and other sophisticated technologies across various businesses and verticals would fuel the demand & growth of the digital transformation market. Various sectors such as healthcare, energy & power, education, and manufacturing are putting hefty investment in automation services in order to witness instant and promising difference regarding optimization of processes.
These sectors have started to make a transition towards total digitalization by installing smart systems and IoT sensors across processes. On the other hand, some unexplored areas would remain within companies and businesses, combined with some industries and sectors, where the rate of digitalization has been conventionally low. For example, the manufacturing sector, particularly across developing countries, has conventionally been a slow adopter of sophisticated techniques and technologies.
Europe's Digital Transformation market would witness bright prospects due to the factors like increasing adoption of digital services across various sectors. Though, a rising number of cyber-attacks, security breaches, and increasing privacy concerns could hinder the growth of the regional market. The regional digital transformation market is segmented with the existence of various industries and the competitive scenario that exists in the region. Additionally, several initiatives are being taken by governmental organizations to speed up the digital transformation market in the European region.
Europe would garner the significant revenue share during the forecast period. Various governments in nations like France and U.K. are undergoing significant initiatives to implement digital technologies and boost the growth of the region. Economies and societies of this region have witnessed a complete digital transition, boosted by digitalization and the development of several types of communication by the increasing number of connected devices and data flows.
The Germany market dominated the Europe Hosted Digital Transformation Market by Country 2020, and thereby, achieving a market value of $45,808.4 million by 2027. The UK market is showcasing a CAGR of 22.6% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 24.5% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Digital Transformation Market Size will Hit $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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