Digital Transformation Market is Projected To Touch USD 6500.6 Billion By 2032 By CIOTechOutlook Team

Digital Transformation Market is Projected To Touch USD 6500.6 Billion By 2032

CIOTechOutlook Team | Thursday, 10 August 2023, 12:05 IST

By 2032, the digital transformation market, currently valued at USD 698.0 billion, is expected to grow to USD 6500.6 billion, according to Brainy Insights. The use of digital transformation helps businesses manage the many risks associated with disruption, including the need to restructure their businesses, market volatility, and unforeseen geopolitical events that could have unpredictable effects. Furthermore, the launch of several new technologically cutting-edge products and services is made possible by switching from a traditional to a new digitalized setup.

In April 2022, Salesforce, Inc., for instance, added service and marketing cloud capabilities to its Customer Data Platform, a conversational intelligence platform powered by AI. In a range of industries, including BFSI, manufacturing, and healthcare, these features assist service and marketing teams in developing personalized experiences that improve client connections. These programs will support the market for digital transformation during the time of the forecast.

The crucial market share for digital transformation is anticipated to be in Asia Pacific. Governments are working more and more closely with important IT companies globally to advance digitalization in the area. For instance, Cisco and the Japanese government collaborated on a digitalization project in February of last year that involved several industry verticals, including business, government, education, healthcare, and others. China will produce the most money this year in terms of digital health revenue, with a total of USD 44,678.66 million.

The Korean New Deal Comprehensive Plan, which was unveiled by South Korea's Ministry of Science and ICT, aims to aid the nation's transition into a major economy by advancing digital innovation centered on artificial intelligence (AI) and data by placing digital capabilities at the forefront of all industrial fields.