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Digital Transformation Market worth $3,289.4 billion by 2030 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Aug. 30, 2024 /PRNewswire/ — The Digital Transformation Market is projected to grow significantly rising from USD 911.2 billion in 2024 to a significant USD 3,289.4 billion by 2030. A strong compound annual growth rate (CAGR) of 23.9% is witnessed during the forecast period, according to a new report by MarketsandMarkets™.  A number of significant factors within the business environment are expected to propel the growth of the Digital Transformation Market. increasing demand for automation, adoption of AI and cloud technologies, enhanced customer experience, and the need for operational efficiency across industries. Government initiatives and digital-first strategies further accelerate this market expansion.

Browse in-depth TOC on “Digital Transformation Market”

319 – Tables
65 – Figures
399 – Pages

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Scope of the Report

Report Metrics

Details

Market size available for years

2019–2030

Base year considered

2023

Forecast period

2024–2030

Forecast units

USD (Billion)

Segments Covered

Offering, Technology, Business Function, Vertical, and Region

Geographies covered

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Companies covered

Microsoft (US), IBM (US), SAP (Germany), Oracle (US), Google (US), Salesforce (US), HPE (US), Adobe (US), AWS (US), HCL Technologies (India), EY (UK), Cognizant (US), Accenture (Ireland), Broadcom (US), Equinix (US), Alibaba Cloud (China), Baidu (China), Cisco (US), eMudhra (India), Happiest Minds (India), Budibase (Ireland), ElecrtoNeek (US), Aixora.ai (US), Matterway (Germany), Laiye (China), KissFlow (India), Orby AI (US), ProcessMaker (US), Process Street (US), Infinitus Systems (US), Scoro (UK), Alcor Solution (US), SmartStream (UK), Cloud Angles (US), Magnetar IT (UK), Scitara (US), Intrinsic (US), Dempton Consulting Group (Canada), Brillio (US), Aexonic Technologies (US), TIBCO software (US), Marlabs (US), Agicent (US), Software AG (Germany), Genpact (US), Deloitte (UK), Twilio (US), Kyndryl (US), Veritis (US) and ScienceSoft (US).

By Technology, cloud computing to register for the largest market share during the forecast period.

Cloud computing is expected to dominate the Digital Transformation Market as it helps businesses scale, reduce costs, and provide flexible option to quickly adapt to changing demands. As businesses move more towards cloud-based systems, they gain advantages from the integration of AI, big data analytics, and IoT, which leads to innovation and increased efficiency in operations. Key trends in cloud computing include hybrid and multi-cloud environments, edge computing, and serverless architectures. This brings about a new role in the face of digital transformation. Moreover, there is an increasing importance placed on improved security measures and compliance solutions as businesses focus on safeguarding data in their cloud strategies.

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By Vertical, BFSI is poised for the fastest growth rate during the forecast period.

The BFSI vertical is anticipated to grow at the fastest rate in Digital Transformation Market due to the pressing need to address issues related to customer experience, operational efficiency, and compliance . Personalized services, fraud detection, and real-time decision-making are at the center of this new paradigm shift in financial services brought about by AI Blockchain, and Advanced Analytics. Key trends include digital banking and the development of different fintech solutions along with the integration of automated procedures like RPA to cut expenses and increase productivity. Additionally, the growing emphasis on cybersecurity and data protection is driving investments in secure digital infrastructure, further propelling the sector’s rapid digital evolution.

By Region, North America accounts for the largest market during forecast period.

North America is projected to hold the largest market share in Digital Transformation Market because to its robust technological infrastructure, high rate of technology adoption, and presence of large tech companies. Businesses in the region are making significant investments in digital transformation in order to boost customer satisfaction, increase operational effectiveness, and maintain a competitive edge over its rivals. Moreover this expansion is fueled by the growing need for cloud computing, artificial intelligence, and IoT solutions as well as the encouraging government regulations and significant R&D investments. The region is also bolstered by a highly skilled workforce and a culture of innovation, positioning North America as a leader in embracing and implementing digital transformation strategies during the forecast period.

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Top Companies in Digital Transformation Market

The major players in the Digital Transformation Market include IBM (US), Microsoft (US), Google (US), AWS (US), Cisco (US), and some of the key start-ups include Kissflow (US), ProcessMaker (US), Process Street (US), Laiye (China), and ElectroNeek (US).

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Get access to the latest updates on Digital Transformation Companies and Digital Transformation Industry 

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Runergy Passes Synesgy ESG Assessment with Good Level of Sustainability

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SHANGHAI, Sept. 11, 2024 /PRNewswire/ — Runergy, a leading solar energy company and a BNEF Tier 1 PV module manufacturer, has passed Synesgy’s Environmental, Social and Governance (ESG) assessment with a Good Level of Sustainability overall and Excellent Level rating within the scope of business, which marks a key milestone for Runergy as a company with a good level of compliance with ESG principles, in line with national and international best practices.

Synesgy is a global digital platform for ESG sustainability assessment within the supply chain developed by CRIF Ratings, a credit rating agency operating under ESMA supervision. Its ESG assessment methodology follows generally accepted international sustainability standards, including the Global Reporting Initiative (GRI) and the Sustainable Development Goals (SDGs).

CRIF specializes in credit bureau reporting & business information systems, analytics, outsourcing, and processing services, as well as advanced digital solutions for business development and open banking. More than 82,000 companies, 10,000 banks and financial institutions, and 600 insurance companies are using CRIF’s services in more than 40 countries. The Synesgy ESG assessment is now a key reference for assessing companies of all sizes and sectors in Italy and Europe, with good ratings demonstrating a company’s solid performance, financial strength, and the ability to innovate, and to be a reliable partner of sustainable development.

Synesgy’s ESG score is an assessment of the level of compliance of a company with ESG factors with considerations of its sector and geographical area. Being certified by Synesgy is a testament of Runergy’s excellent performance in ESG and its commitment to sustainable development and high standards of social responsibility in daily operations.

“From an environmental perspective, we are unwavering in our commitment to sustainable practices. We leverage eco-friendly materials and production processes to minimize our carbon footprint and promote responsible operations,” said Yu Bing, global marketing director of Runergy. “Our dedication to sustainability is further evidenced by our impressive ESG rankings, which have earned us recognition from Dun & Bradstreet, EcoVadis and Achilles.”

Runergy has received multiple ESG awards, including the highest rating of Very Good by Dun & Bradstreet; the Bronze Medal in Sustainability Rating by EcoVadis with top 35 percent ranking; and being ESG certified at the highest level by Achilles.

Since June 2023, Runergy has been a member of the United Nations Global Compact, a voluntary initiative promoting responsible business conduct. As a global photovoltaic enterprise, Runergy continues to integrate its vision of sustainable development into its business strategy and operations, and provide customers with efficient, sustainable products and services.

“In the future, Runergy will continue to pursue sustainable development and collaborate with our partners to shape a sustainable green future,” said Yu.

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Skyworth Hits An Extraordinary Milestone: Over 36 Million Google TVs™ and other Android TV™ OS Devices Shipped Worldwide

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SHENZHEN, China, Sept. 10, 2024 /PRNewswire/ — Skyworth celebrates a huge win! It surpassed 36 million shipments of Google TVs and other Android TV OS devices globally this year. This incredible achievement not only affirms Skyworth as a global leader in the industry but also highlights its growth in the global market share.

Why is it significant?

With Google TV and Android TV recognized as popular TV platforms, Skyworth is proud of the success it has shared throughout its partnership. Its collaborative efforts in developing first-class TVs and streaming devices – including its range of Portable TVs, Outdoor TVs, Frame+ TVs, and more – will continue to deliver exceptional entertainment experiences worldwide. As of June 30, 2024, they have shipped over 36 million Google TV and Android TV OS devices, making Skyworth one of the leading contributors in this market.

Engineering for users’ lifestyle

Skyworth is all about pushing boundaries. They’ve rolled out a lineup of Google TVs, Android TVs, set-top boxes, and various streaming devices that aren’t just cutting-edge-they’re game-changing. These products are designed with users in mind, delivering top-notch tech and a variety of options to meet the diverse needs of consumers around the globe.

What’s Next?

They‘re not stopping here! They are growing gracefully! Skyworth is committed to continuing their streak of innovation and creating even more Google TV and other Android TV OS devices for users’ home. Expect more exciting launches that will redefine their entertainment experience.

Stay Tuned

In upcoming events such as IFA 2024 Berlin, IBC 2024 Amsterdam and Google APAC TV Summit 2024 Bangkok, Skyworth Group shall unveil an exciting new range of AI-powered features on its next gen eco-smart devices for new revenue streams.

Lookout for the world’s first AI Karaoke TV, gaming TV with exceptional sound effects, and best-selling QLED+ 100-inch TV. Their Lifestyle series will feature portable TVs and the Frame+ TV, while the Magic Sound series promises an immersive audiovisual experience.

*Google TV is the name of this device’s software experience and a trademark of Google LLC.
Google, YouTube, Android TV, YouTube Music, and other marks are trademarks of Google LLC.*

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SOURCE SKYWORTH Group

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Sungrow Host Successful 2024 Photovoltaic and Energy Storage Technology Seminar in Dubai, in partnership with AMEA Power

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DUBAI, UAE, Sept. 11, 2024 /PRNewswire/ — Sungrow, the global leading PV inverter and energy storage system provider, in collaboration with AMEA Power, one of the fastest-growing renewable energy companies in the region, recently hosted the 2024 Photovoltaic and Energy Storage Technology Seminar (Sungrow OSKA Day – PV&ESS Technical Seminar 2024) in Dubai, UAE. During the event, a long-term service agreement (LTSA) was signed for renewable energy projects for AMEA Power’s 500MW Abydos Solar PV Project in Egypt and the 70MW Sheikh Mohamed Bin Zayed Solar PV Project in Togo. The seminar brought together numerous technical experts and engineers from AMEA Power, Danway, and Sungrow to discuss cutting-edge technologies and challenges in the PV and ESS sectors.

In-depth BESS Technical Exchange: Participants engaged in detailed discussions on safety design for energy storage systems, large-scale combustion testing, and the latest innovations in grid simulation technology. These technical insights were shared by experts from Sungrow OSKA, the Energy Storage Technology Platform, and the Central Research Institute, offering valuable real-world applications for battery energy storage systems (BESS). The session engaged attendees in a lively Q&A, enhancing their understanding of the technology.

Innovative PV Products Demonstrations: Attendees witnessed live demonstrations of the 1+X operation and maintenance model, which highlighted Sungrow’s latest advancements in inverter efficiency and reliability.

Key Signing Ceremony: A long-term service agreement (LTSA) was signed for renewable energy projects for AMEA Power’s 500MW Abydos Solar PV Project in Egypt and the 70MW Sheikh Mohamed Bin Zayed Solar PV Project in Togo, marking a pivotal milestone in Sungrow and AMEA Power’s ongoing collaboration. This agreement strengthens their commitment to advancing clean energy initiatives and underscores their dedication to driving renewable energy development across the Middle East and Africa.

Sungrow has built a robust local service network across the Middle East and North Africa, including one dedicated customer service center and a network of over 15 certified service partners. To support this, Sungrow operates a global warehousing hub in Dubai, alongside five regional warehousing centers, ensuring 24/7 remote support, and spare parts delivery within one business day. To further improve service quality and efficiency, Sungrow has established six regional training centers in the region, with over 100 certified service engineers, providing comprehensive, professional services aimed at maximizing customer value.

“At AMEA Power, we are committed to advancing renewable energy solutions and ensuring the highest standards of technical excellence across all our projects. Partnering with Sungrow for this training session on cutting-edge solar photovoltaic and energy storage technologies, reinforces our commitment to innovation. The signing of the long-term service agreements for our 500MW Abydos Solar PV Project in Egypt and the 70MW Sheikh Mohamed Bin Zayed Solar PV Project in Togo further strengthens our focus on operational efficiency and sustainable growth,” stated Mahabir Sharma, Chief Technical Officer of AMEA Power.

“Sungrow will rely on its advanced technology, exceptional quality, and premium service to continue its commitment to the Middle East and African markets, contributing more to the global development of clean energy. The Sungrow OSKA Day series will continue, bringing more innovative ideas and solutions to promote the widespread application of clean energy globally,” commented by Lynn Xia, Director of Sungrow OSKA team II.

About AMEA Power
Headquartered in Dubai, AMEA Power is a developer, investor, owner and operator of renewable energy projects. As one of the fastest-growing renewable energy companies in the region, AMEA Power has assembled a world-class team of industry experts to deliver projects across Africa, the Middle East, and emerging Asia. With projects in 20 countries, a 6GW+ project pipeline, and 1,600MW+ in operation and under/near construction, the company is rapidly expanding its investments in wind, solar, energy storage, and green hydrogen, demonstrating its long-term commitment to the global energy transition. For more information, please visit www.ameapower.com.

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 27 years. As of June 2024, Sungrow has installed 605 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the most bankable Asian energy storage company (BloombergNEF). Its innovations power clean energy projects in over 170 countries, supported by a network of 490 service outlets guaranteeing excellent customer experience. At Sungrow, we’re committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit www.sungrowpower.com.  

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