North America Digital Transformation Market By Component (Solution and Services), By Deployment Type (On-premise and Hosted), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (BFSI, Government & Defense, IT & Telecom, Healthcare, Manufacturing, Consumer Goods & Retail and Others), By Country, Growth Potential, Industry Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The North America Digital Transformation Market would witness market growth of 19.1% CAGR during the forecast period (2021-2027).
In the modern era and the emerging digital society, digital transformation and digital co-creation are becoming a dynamic business normal. The subsequent transformations are entering into a new domain of how enterprises monitor their operations to boost their business strategies, offer a better outcome and engage with customers in the digital world. Some of the determinants such as constantly increasing internet users & smart devices, government initiatives towards digitization, and a growing number of technological developments are expected to boost the growth of the digital transformation market. Moreover, some of the catalysts for the growth of the global digital transformation market are the unexplored opportunities to boost sales efficiency, companies' demand simplified business process, and to leverage the market dynamics. On the other hand, the growth of the digital transformation market is hindered by the huge cost of transformation and the absence of infrastructure.
Digital technologies are considered as accelerators of innovations. They can enhance efficiency, encourage the development of new products and services, and allow new business models to enter into the business landscape. The North American region has been at the forefront in adopting new and advanced technologies and hence becoming a hub for digital transformation. The essential need of companies operating in the region to transform their conventional business practices into digital and the fast adoption of mobile devices, cloud technology, and IoT solutions, has resulted in the higher adoption of digital transformation in this region.
Moreover, companies in the region are observing a huge demand for industrial robots in the past few years, due to the growing adoption of smart factory systems where these robots assume indispensable roles. The number of industrial robots working in smart factories has increased manifold, boosted by the huge development of smart production and automation. Thus, the region is witnessing massive demand for digital transformation.
The US market dominated the North America Digital Transformation Solution Market by Country 2020, and would continue to be a dominant market till 2027. The Canada market is experiencing a CAGR of 20.6% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 19.6% during (2021 - 2027).
The On-premise market dominated the Canada Digital Transformation Market by Deployment Type 2020, thereby, achieving a market value of $28,517.7 million by 2027. The Hosted market is showcasing a CAGR of 25.7% 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 U.S., Mexico, Canada, and Rest of North America.
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.
Scope of the Study
Market Segments Covered in the Report:
- Cloud Computing
- Mobility & Social Media
By Deployment Type
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End User
- Government & Defense
- IT & Telecom
- Consumer Goods & Retail
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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
- Oracle Corporation
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