Europe Digital Transformation Market is expected to reach US$ XX Bn by 2026 from US$ XX Bn in 2019 at a CAGR of XX%.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Europe Digital Transformation Market
Europe digital transformation market is classified into the component, deployment type, enterprise size, vertical and geography. Based on a component, the Europe digital transformation market is segmented into solution and services. In terms of deployment type, the Europe digital transformation market is categorized into on-premises and cloud.
On the basis of enterprise size, the Europe digital transformation market is segregated into large enterprise and small and medium enterprise. Based on vertical, the Europe digital transformation market is segmented into banking, financial services and insurance (BFSI), telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government, aviation & defense, transportation, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Digital transformation refers to the transformation in business and organizational activities including processes, competencies, and models. These transformation leverages the changes and opportunities of digital technology mix and accelerates impact in a strategized way considering the present and future shifts in mind. Digital transformation is imperative for most of the businesses, ranging from the small to the large enterprise. Digital transformation is necessary for businesses to be competitive and relevant for matching the worldwide scenario that is increasingly digitization. Digital transformation is challenging in changing management as the impacts are not limited to only industry structures and strategic positioning but across the value chain as well.
Based on a component, the solution held the largest market share while the services monitored the fastest growth rate. There is high demand for transformational changes within an organization to grow business and compete in the dynamic business environment. Enhancement in customer experience, operational agility, and digital technology integration are all part of the whole transformational process. Solutions related to digital transformation such as cloud computing and big data analytics have together factored for the high growth of Europe digital transformation market.
In terms of deployment type, cloud and on-premises are two major segments for Europe digital transformation market. It is the growth of digitalization along with a high volume of data crunching across organizations that have resulted in higher demand for cloud-based technology. The flexibility and cost efficiency are certainly other factors that have together boosted the demand for cloud-based deployment type.
On the basis of enterprise size, where the large enterprise held largest market share followed by SMEs. The large enterprises are opting for digitization to extend the business reach, faster execution of products and services along with improving management decisions leading to higher digitalization and digital transformation.
Geographically, different countries in Europe have invested heavily in digitizing their companies to transform their business scenario. UK, Russia, France, and Germany are some of the major countries that have contributed to the growth of Europe digital transformation market. Faster execution of services and quicker manufacturing of products certain advantages that have boosted the growth of digital transformation in Europe. Moreover, the presence of disruptive technologies may affect the flow of business that necessitates the importance of streamlining digitalization.
Some of the key players in the Europe digital transformation market are First Solution, Headscape, Coeus Consulting, Altran, KPMG, Roland Berger, Oracle, CANCOM, Orange Business Services, and Sopra Steria.
The scope of the Europe Digital Transformation Market
Europe Digital Transformation Market, By Component
Europe Digital Transformation Market, By Deployment Type
Europe Digital Transformation Market, By Enterprise Size
• Large Enterprise
• Small and Medium Enterprise
Europe Digital Transformation Market, By Vertical
• Banking, Financial Services and Insurance (BFSI)
• Telecom & IT
• Retail & Consumer Goods
• Media & Entertainment
• Aviation & Defense
Europe Digital Transformation Market, By Geography
• GCC Countries
Key Players operating in the Europe Digital Transformation Market
• First Solution
• Coeus Consulting
• Roland Berger
• Orange Business Services
• Sopra Steria
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