Digital transformation (DX) is the process of using multiple technologies to update, renew or improve business processes in the organizations to meet changing market dynamics and customer demand. Digital transformation plays a critical role in staying competitive in a constantly changing business environment and technology landscape.
The global market size for digital transformation in manufacturing was valued at USD 220.90 billion in 2018 and is anticipated to rise up to USD 642.35 billion by 2025 with a CAGR of 14.3% during the forecast period. The strong competitive pressure in the manufacturing industry in addition to the highest emphasis on reducing cost on operations are proving to be a major driver for the digital transformation in manufacturing. Other key factors driving the market include the evolution of Industry 4.0 and the wide adoption of the Internet of Things (IoT).
The global digital transformation market in manufacturing report assesses market demand and scenario over the period from 2015 to 2025. The report highlights the historic trends between 2015 and 2017 and the 2019 to 2025 market forecast. The report studies both at global and country-level the current status and future market prospects. The global digital transformation market in manufacturing is primarily segmented by key regions and countries.
The report also throws light on various aspects of the global digital transformation industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the digital transformation industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global digital transformation market has strong competition among the well-established and new emerging players. These market players targets to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
In the region segment, North America dominated the global digital transformation with almost 34.4% market share. The Asia-Pacific is the second-largest market not very far from North America and will be growing at the fastest growth rate of 15.0% during the forecast period. The manufacturing industry, especially in the United States is the early adopter of digital transformation. However, Asia-Pacific is expected to dominate the digital transformation market driven by heavy demand from manufacturing hubs such as China, Taiwan, and Japan. Also, developing manufacturing industry in economies such as India and Indonesia will be driving the adoption of digital transformation. The key digital transformation vendors for manufacturing sectors are Amazon Web Services, Microsoft Azure, IBM, Google, SAP, VMware, Inc., Citrix Systems, Inc., Oracle Corporation and others.
Segment Overview of Global Digital Transformation Market in Manufacturing
Regional Overview, 2015-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of APAC
- Middle East and Africa
- South America