Digital Transformation Consulting Services Market size was valued at USD 687.48 billion in 2023 and is expected to exceed USD 4.04 trillion by 2036, registering over 14.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of digital transformation consulting services is assessed at USD 767.78 billion. The growth of the market can be attributed to the global digitalization of every sector. The transformation of traditional businesses to digital needs expert guidance, which is primarily estimated to drive the market. Moreover, the increasing penetration of internet services, across the globe, is anticipated to fuel the market growth. According to the statistics by the World Bank, in 2019, 56.727% of the total population used internet globally. Besides, escalating use of smartphones, along with adoption of advanced technologies, such as, virtual reality, cloud-computing, and others, are projected to further strengthen the market growth.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
14.6% |
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Base Year Market Size (2023) |
USD 687.48 billion |
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Forecast Year Market Size (2036) |
USD 4.04 trillion |
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Regional Scope |
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The market is segmented by application into BFSI, transportation & logistics, oil & gas, healthcare, IT & telecom, manufacturing, automotive, and others, out of which, the transportation and logistics segment is anticipated to hold the notable share in the global digital transformation consulting services market over the forecast period on account of increasing penetration of digitalization, such as, utilization of digital technology, modernized data recording and registration, and other features. Moreover, the increasing presence of large amount of data in the logistics sector is foreseen to fuel the market growth.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Application |
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By End-User |
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APAC Market Statistics
On the basis of geographical analysis, the global digital transformation consulting services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is set to dominate majority revenue share by 2036, backed by growing digital transformation of various end-user sectors in the region.
North America Market Analysis
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of the increasing adoption of advanced technology, along with high demand for consultancy services to encourage digitalization.
October, 2021: Cognizant announced collaboration with Cabot Corporation, leading global specialty chemicals and performance material company, to transform its digital operating model globally.
November, 2020: Google Cloud to collaborate with ANSR to accelerate enterprise digital transformation for global capability centers at-scale in India.
Author Credits: Abhishek Verma
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