Global Digital Transformation Consulting Market size is expected to grow with a CAGR of 7.5% over the forecast period. Increasing competition among businesses and after effects of Pandemic are anticipated to drive growth of Global Digital Transformation Consulting Market.
Key Players for Global Digital Transformation Consulting Market Report: Some major key players for global digital transformation consulting market are Mercer LLC, McKinsey and Company, PwC, Ernst and Young Ltd., IBM, Deloitte, Cognizant, Bain and Company, KPMG, The Boston Consulting Group, Accenture PLC, The IA Group, A.T. Kearney Inc, ABeam Consulting Ltd., Arthur D Little and others.
Digital transforming consultancy is a service which helps the business to formulate the strategy for their digital transformation & implement it to enhance the business performance through digital technologies. These services are offered by firms which help an organization to transform into digital realm, result in reducing the office work, paper work (invoices, bills, etc.) & leads the organization to focus on their core business. The chances of failures are reduced to great degree by IoT, machine learning and others like defect in manufacturing products will reduce, manufacturing will be fast. These firms provide solution to a problem or service in transformation to its client, as they may have limited knowledge or workforce to do the same. The digitally transformed organization may see improved customer experience, offer better working conditions to its employees, reduction in guess work as the analyzed data will be readily available which will lead competitive environment & ready to changes without any drag will result in increase in profits of organization business. The digital transformation is need of the hour as every business is trying to digitized to reach its customer segment; it can be called reinventing, as strategy, planning, operations have significant changes.
During the Covid-19 pandemic, businesses with digital transformation are less affected due to online business. In this situation, consumers are shifted to online channel and thus the various businesses have done the best efforts to meet this demand. The social distancing has been followed due to covid-19 for almost a year with reduced office occupancy has affected the work. Employees started to work from home but it was limited due to hesitation to change. In post Covid-19 scenario businesses are anticipated to go digitized to sustain in the competitive environment. Thus, COVID-19 has accelerated the demand for digital transformation and hence fostered the digital transformation market growth.
The major factor driving the growth of global digital transformation consulting market is increasing competitive business environment. The business with new ideas, new technology and doesn’t hesitate to change, survives in the market. The market with changing business providing new opportunities that can be tapped by new player if existing players hesitate to grasp it. In addition, the after effects of lockdown has not led business to reach pre-covid-19 level due to social distancing & customers reluctance to spend will force the business to tap digitized realm which help in organization’s cost reduction and increase target market with less efforts by focusing on its core business. However, increasing concern for data safety may hamper the market growth. In spite of that, rising infrastructure in developing economies at a fast pace due increasing industrialization with rising standard of living may create more opportunities for the further growth of the market.
North America is Anticipated to Dominate the Global Digital Transformation Consulting Market.
The global digital transformation consulting market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America is expected to dominate the growth of global digital transformation consulting market within the forecast period owing to the presence of leading players and early adoption of the latest technology in this region. Asia-Pacific is expected to witness a significant growth in the global digital transformation consulting market within the forecast period due to growing industrialization & adoption of latest technologies in this region.
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