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Digital Transformation Facts #9

1. Europe Digital transformation market is expected to grow from US$ 92.7 billion in 2017 to US$ 520.4 billion by the year 2025 with a CAGR of 26.0% from the year 2018 to 2025.

2. Spending on artificial intelligence (AI) hardware and software is predicted to expand 2.5 times from current expenditure of $37.5 billion to $97.9 billion.That is a CAGR of 28.4% during the 2018-2023 period.

3. Banks are prioritizing innovation and technology adoption to better compete with fintechs. The digital customer experience was chosen as a top priority by 79% of respondents. Cost-cutting was the second-highest priority at 46%, propelled by tech adoption and branch transformation.

4. The global market size for digital transformation in transportation and logistics was valued at USD 54.92 billion in 2018 and is anticipated to rise up to USD 145.28 billion by 2025 with a CAGR of 13.0% during the 2019-2025 forecast period.

5. Businesses are adopting digital technologies at an unprecedented pace, with spending on DX expected to reach $1.25 trillion in 2019. 79% of the more than 6,600 business & IT executives worldwide say that digital technologies have now moved beyond adoption silos to become part of the technology foundation for their organizations.

6. The Indian digital transformation market is predicted to generate a revenue of $710.0 billion by 2024, progressing at a CAGR of 74.7% during the forecast period (2019-2024).

7. Within the next two years, 72% of organizations will be working with Robotic Process Automation (RPA).

8. The edge computing market size is expected to grow from USD 2.8 billion in 2019 to USD 9.0 billion by 2024, at a CAGR of 26.5% during the forecast period.

9. The Asia Pacific digital transformation market accounted for US$ 138.94 billion in 2017 and is expected to grow at a CAGR of 26.9% over the forecast period 2018-2025, to account for US$ 825.11 billion in 2025.

10. The global market size for digital transformation in healthcare is anticipated to reach USD 210.00 billion by the end of 2025.