Digital transformation is characterized as operational, organizational and cultural change of an industry, enterprise or ecosystem by the integration of digital technologies. It commonly involves the use of advanced technologies including 3D printing, robotics, artificial intelligence (AI) and additive-manufacturing. It is generally implemented by hardware upgrades, on-site or cloud software, and digital experience platforms (DEP). These solutions help to optimize the organization’s processes and skills by digitally transmitting operations and improving brand reputation, customer experience, and customer retention relationships. Therefore, digital transformation is finding widespread application across a variety of industries including healthcare, information technology (IT), banking, financial services and insurance (BFSI), retail, and transportation.
The increasing acceptance of various technologies for creating new processes, products & services and business models by the use of digital tools increases the demand for digital transformation and drives market growth. In addition, with the increasing penetration of smartphones & internet, various organizations & industries are driving digitization by enabling the use of the latest technologies for greater efficiency and productivity. Since the digital transformation can integrate databases, applications, and software for business intelligence & improve the productivity, it is increasingly used by organizations to convert the consumer experience, which further increases market growth. The increasing demand for faster and more profitable innovations through the use of technologies for instance machine learning, blockchain and quantum computing is also increasing market growth.
As per analysis, “MEA Digital Transformation Market: Current Analysis and Forecast (2021-2027)” Some of the key companies operating in the MEA digital transformation market include Cognizant, IBM Corporation, SAP SE, Microsoft Corporation, Dell Corporation, Adobe Systems Incorporated, Capgemini, Oracle Corporation, Accenture PLC, Google Inc. and among others.
Digital transformation is very critical to revolutionizing various industries, including healthcare. In the healthcare sector, digital transformation helps healthcare providers to modernize operations and improves their customer services through different technologies. Increasing use of wearable devices, virtual reality and big-data is narrowing the gap between healthcare providers and patients. Therefore, rise in investments and increase in focus on digital health is predicted to bolster the growth of the digital transformation industry. In addition, the rapid adoption of cloud deployment is driving business integration, automation and improvement, thus giving new impetus to market growth.
In terms of components, MEA digital transformation market has been categorized as services (system integration and professional services) and solutions (mobility, big data & analytics, cloud computing, social media and disruptive technology). In terms of deployment type, market has been categorized as cloud deployment and on-premise. Additionally, In terms of industry vertical, market has been categorized as manufacturing, automotive, telecom & IT, BFSI, healthcare, education, government, retail & consumer goods and others.
Growth in penetration of Internet-of-Things (IoT) and adoption of cloud services, followed by rapid digitization & automation of various business processes, increase in digital transformation initiatives by the government, rapid internet penetration and increase in Smartphone users are some major factors, which are responsible for growth of the MEA digital transformation market. Apart from this, increase in issues related to IT modernizations and surge in security & privacy concerns for confidential data may impact the market. Moreover, rise in usage of disruptive technologies such as Machine-Learning (ML), Artificial Intelligence (AI) and Big Data is a leading opportunity for global market.
Based on country-wise analysis, the MEA digital transformation market can be segmented as South Africa, UAE, Saudi Arabia, Qatar and rest of MEA. It is projected that future of the MEA digital transformation market will be bright as a result of increase in projects like smart city, growth in adoption of cloud platforms, and rise in usage of real-time application during the forecast period.
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MEA Digital Transformation Market
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