Digital transformation market size will be $798 bn

going-digitalThe digital transformation market is expected to reach $798.44 billion by 2025, according to Grand View Research.

The introduction of innovative solutions that are capable of engaging customers or employees to integrate process, data, IT and business and the increasing demand for the adoption of Internet of Things (IoT) are propelling growth in digital transformation market.

The hosted deployment segment is likely to grow at a CAGR of 22.3 percent.

The healthcare segment is estimated to grow at CAGR of 19.5 percent over the next eight years. This can be attributed to the increasing focus of the healthcare providers towards improving the patient care by implementing digital process and technology.

North America accounted for the largest share in 2016 due to growing customer interaction through smart devices such as tablets and smartphones.

The presence of leading tech companies such as IBM, Cisco, and Hewlett Packard Enterprise (HPE) among others in the North American region is a key factor contributing to the investment in digital transformation projects in North America.

The Asia Pacific regional market is expected to grow at the highest CAGR over the next eight years due to the growing demand for the application of the Internet of Things (IoT).

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