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Europe Digital Transformation Market: Current Analysis and Forecast (2021-2027)

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vivek bajaj
Europe Digital Transformation Market: Current Analysis and Forecast (2021-2027)

Digital technologies are dramatically reshaping every industry, several companies are doing large-scale change efforts to capture the benefits of the ongoing digital transformation trend or simply to keep up with their competitors. The results of digital transformation may take time but not opting for transformation is not an option for one to survive in the competitive world. For instance, on average, European firms are less often fully digital, and are particularly lacking in the construction sector, dragging down the digital intensity score. Furthermore, US firms invest more in business process improvements compared to the European counterparts. However, firms in the European region and the US perceive digital infrastructure similarly. As per a study conducted by one of the top consulting firm, European companies lags US companies in terms of R&D investment and adoption of digital technologies. Using firm-level data from 2019, it is stated that larger firms have higher rates of digital adoption, compared to their smaller peers, and that digital firms have better management practices and show more dynamism. Only 66% of manufacturing firms in the Europe have adopted at least one digital technology, compared to 78% in the US. The difference is particularly large in the construction sector, where the share of digital firms in Europe stands at 40%, compared to 61% in the US. In the service sector the difference between Europe and US is 13% and 11% in the infrastructure sector.

Insights Presented in the Report

"Amongst component, Solution segment holds the major share."

 

Based on the component, the European digital transformation market is bifurcated into Solutions and Services. The solution sub-segment is further divided into cloud computing, big data and analytics, mobility, disruptive technology, and social media. Moreover, Service segment is divided into professional services and system integration. Service segment generated revenue of US$ 66.1 billion in 2020. Solution segment is expected to witness CAGR growth of 15.16% during the forecast period.

 

"Amongst deployment type, cloud dominated the market in 2020."

Based on Deployment type the market is segmented into On-premises and cloud deployment. Currently, cloud deployment model dominated the market and is expected to maintain its dominance during the analyzed period. On-Premise's segment is expected to witness CAGR growth of 13.83% during the forecast period.

"Amongst End-user, large enterprises are expected to dominate the market during the analyzed period."

Based on end-user the European digital transformation market is bifurcated into large enterprises and SME's. Owing to high cost of digital technology deployment large enterprise invested most on digital technology. The segment generated revenue of US$ 203.8 billion in 2020.

"Amongst industry verticals, Banking Financial Services & Insurance dominated the market in 2020."

Based on industry vertical, the market is fragmented into BFSI, healthcare, telecom & IT, automotive, education, retail & consumer goods, media & entertainment, manufacturing, government, and others. Healthcare segment is expected to witness highest CAGR growth of 18.95% during the analyzed period.

"Germany represents as the largest markets in the Europe Digital Transformation market."

For better understanding of the market penetration of digital transformation, the report provides detailed analysis of major countries including Europe (Germany, UK, Russia, France, Spain, Italy, Rest of Europe). Germany dominated the % share in 2020. However, Spain is expected to witness highest CAGR growth of 19.76% during the forecast period. Some of the major players operating in the market include IBM Corporation, Cognizant, SAP SE, Dell, Microsoft Corporation, Adobe Systems Incorporated, Accenture PLC, Capgemini, Oracle Corporation and Google Inc.

Reasons to buy this report:

 

  • ? The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • ? The report presents a quick review of overall industry performance at one glance
  • ? The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • ? Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • ? The study comprehensively covers the market across different segments
  • ? Deep dive country level analysis of the industry

 

Customization Options:

The European Digital Transformation Market can further be customized as per the requirement or any other market segment.


Table of content

1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Limitation
1.3. Stake Holders
1.4. Currency Used in Report
1.5. Scope of the Europe Digital Transformation Market Study
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process
2.2. Research Methodology for the Europe Digital Transformation Market
2.3. Forecasting Method
2.4. Respondent Profile
2.5. Main Objective of the Europe Digital Transformation Market
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 EUROPE DIGITAL TRANSFORMATION MARKET DYNAMICS
5.1. Market Drivers
5.1.1. Rapid Digitalizing Business Operations
5.1.2. Proliferation of Smartphone and Mobile Application
5.1.3. Penetration of IoT and Adoption of Cloud Services
5.2. Market Challenges
5.2.1. Security and Privacy Concerns
5.2.2. Unfavorable firm-size distribution
5.3. Market Opportunity
5.3.1. Digital firms tend to be more productive.
5.3.2. Digital firms are more likely to grow and create jobs.
6 LEGAL & REGULATORY FRAMEWORK
7 USED CASE EXAMPLE OF DIGITAL TECHNOLOGY IN EUROPEAN INDUSTRIAL SECTOR
7.1. 3D scanner to design made-to-measure shoe insoles using HPC.
7.2. Sustainable agriculture powered by smart technologies.
7.3. 3D printing and HPC to improve gearbox production.
7.4. SME improves design of an aircraft.
8 DEMAND AND SUPPLY SIDE ANALYSIS
8.1. Demand Side Analysis
8.2. Supply Side Analysis
8.2.1. Top Product Launches
8.2.2. Top Partnerships
8.2.3. Top Business Expansions, Investments a

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