Digital transformation is defined as the transformation or change related to the utilization and application of digital technology and devices in all forms of human society. Due to high accuracy, cost effectiveness, easy access to information and flexibility of digital technology, it have its application across BFSI, Healthcare, IT and telecom ,retail, automotive etc. Thus, its applications boosting global digital transformation market with a CAGR of around 15% during the forecast period 2016-2023. The key factor fueling the growth of digital transformation market is the increasing penetration of smartphones and internet users.
North America accounts highest revenue share in 2016. The key factor driving the growth of the market in North America is the increasing penetration of smartphone and internet users in U.S., Canada etc. Moreover, stringent government regulation for development of digital communication technology is also contributing growth in North America digital technology market. Moreover, Asia Pacific is the fastest growing region in global digital technology market. According to International Telecommunication Union, in Asia around half of the global internet user present which was around 1.89 billion in March 2017. China is having highest internet user base which was around 670 million internet users in 2017. Hence, the largest internet user base in Asia Pacific is contributing towards the growth of Asia Pacific digital technology equipment market.
The global digital transformation market is influenced by the presence of leading companies such as IBM CORPORATION [U.S.], ORACLE CORP. [U.S.], MICROSOFT CORPORATION [U.S.], AT&T INC. [U.S.], HP [U.S.] etc. Product launches, joint ventures, mergers and acquisition are some of the crucial strategies adopted by the key market layers in order to gain competitive advantage.
Global voice communication equipment market report covers segmentation analysis of solution, services, deployment model, business type solution and verticals. Report further covers segments of solutions which includes cloud computing, big data, mobility and social media. The cloud computing market is the leading segment due to the increasing demand for cloud services in the enterprises and organizations. The increasing number of smartphone and internet users have resulted into increased use of social media sites. As per mobility report published by Ericsson, there are around 2.6 billion smartphone user presents across the globe in 2014 that is expected to rise to 6.1 billion by the end of 2020. The growing demand for smartphone and tablets is attributing towards the large share of the digital devices/ platforms segment. Whereas, applications of digital transformation include BFSI, Healthcare, IT and telecom, retail, automotive etc.