PUNE, India, February 21, 2023 (GLOBE NEWSWIRE) — The Digital Transformation Market The size reached $1.51 trillion in 2021 and is projected to grow from $1.79 trillion in 2022 to $6.78 trillion by 2029, at a CAGR of 20.9% over the forecast period. The rapid deployment of cutting-edge technologies such as AI, IoT, cloud computing and others is driving global digital transformation market share, according to Fortune Business InsightsTM in its report titled Digital Transformation Market Forecast, 2023-2029.
key industry development
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Report scope and segmentation
| report coverage | details |
| forecast period | 2022 to 2029 |
| Forecast period 2022 to 2029 CAGR | 20.9% |
| Value prognosis 2029 | $6.78 trillion |
| base year | 2021 |
| Digital transformation market size in 2021 | $1.51 trillion |
| Historical data for | 2018 to 2020 |
| number of pages | 217 |
| segments covered | Technology, Business, Deployment, Industry |
| Growth drivers of the digital transformation market | Increasing adoption and investment in cloud infrastructure, IoT and 5G to fuel growth |
| Privacy and security concerns related to digital technologies are hampering market growth |
The central theses
- The digital transformation market is projected to thrive and reach $6.78 trillion in 2029
- Companies are investing more in robotic systems due to increased manufacturing capacity and improved worker safety.
- Through partnerships, acquisitions and collaborations, the companies are investing in the rollout of 5G and the development of cloud infrastructure.
- During the projection period, SMEs…
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