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Digital Transformation Consulting Services Market Segmentation by Type (Online Service, and Offline Service); by Application (BFSI, Transportation & Logistics, Oil & Gas, Healthcare, IT & Telecom, Manufacturing, Automotive, and Others); and by End-User (Large Enterprises, SMEs, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • October, 2021: Cognizant announced collaboration with Cabot Corporation, leading global specialty chemicals and performance material company, to transform its digital operating model globally.

  • November, 2020: Google Cloud to collaborate with ANSR to accelerate enterprise digital transformation for global capability centers at-scale in India.

Global Digital Transformation Consulting Services Market Highlights over 2022 – 2031

The global digital transformation consulting services market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the global digitalization of every sector. The transformation of traditional businesses to digital needs expert guidance, which is primarily estimated to drive the digital transformation consulting services market. Moreover, the increasing penetration of internet services, across the globe, is anticipated to fuel the market growth.   According to the statistics by the World Bank, in 2019, 56.727% of the total population used internet globally. Besides, escalating use of smartphones, along with adoption of advanced technologies, such as, virtual reality, cloud-computing, and others, are projected to further strengthen the market growth.

Digital Transformation Consulting Services Market

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The market is segmented by application into BFSI, transportation & logistics, oil & gas, healthcare, IT & telecom, manufacturing, automotive, and others, out of which, the transportation and logistics segment is anticipated to hold the notable share in the global digital transformation consulting services market over the forecast period on account of increasing penetration of digitalization, such as, utilization of digital technology, modernized data recording and registration, and other features. Moreover, the increasing presence of large amount of data in the logistics sector is foreseen to fuel the market growth. 

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Digital Transformation Consulting Services Market Regional Synopsis

On the basis of geographical analysis, the global digital transformation consulting services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing digital transformation of various end-user sectors in the region.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of the increasing adoption of advanced technology, along with high demand for consultancy services to encourage digitalization.

Digital Transformation Consulting Services Market Share

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The global digital transformation consulting services market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global digital transformation consulting services market includes the following segments:

By Type

  • Online Service
  • Offline Service

By Application

  • BFSI
  • Transportation and Logistics
  • Oil & Gas
  • Healthcare
  • IT & Telecom
  • Manufacturing
  • Automotive
  • Others

By End-User

  • Large Enterprises
  • SMEs
  • Others

Growth Drivers

  • Transformation of Traditional to Digital Business
  • Commencement of Industry 4.0 Globally
  • Increasing Penetration of Internet Services

Challenges

  • Lack of Awareness Regarding the Services

Top Featured Companies Dominating the Market

  • Infinity Software Consulting Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Code Zero, LLC
  • Accelirate
  • Cognizant Technology Solutions Corporation
  • Coastal Cloud
  • Google LLC
  • Accenture PLC
  • IBM Corporation
  • Microsoft Corporation
  • ADOBE, Inc.

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