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Redding, California - July 4, 2024

Europe Digital Transformation Market to be Worth $832.84 Billion by 2030

Europe Digital Transformation Market by Technology (IoT, Cloud Computing, Big Data Analytics, AI/ML, Cybersecurity, Mobility Solutions, AR/VR, RPA), Offerings, Enterprise Size, Deployment Mode, End-use Industry, and Geography - Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Europe Digital Transformation Market by Technology (IoT, Cloud Computing, Big Data Analytics, AI/ML, Cybersecurity, Mobility Solutions, AR/VR, RPA), Offerings, Enterprise Size, Deployment Mode, End-use Industry, and Geography - Forecast to 2030.’

According to this latest publication from Meticulous Research^®, the Europe digital transformation market is projected to reach $832.84 billion by 2030, at a CAGR of 18.5% from 2024–2030. The growth of this market is attributed to the increasing investments in sustainability initiatives in various industries, a stronger focus on resilient supply chains by leveraging analytics, growth of flexible work culture, remote talent management, and continued focus on cybersecurity. In addition, long-term investments in Europe to boost digital technologies, data-driven, analytics-based customer experience approach, and increasing adoption of blockchain as a mainstream technology are expected to offer significant opportunities for the growth of this market.

However, the lack of harmonized digitalization in SMEs across Europe hampers the growth of this market. In addition, the lack of tailored support for SMEs in different industries to support their digital transformation initiatives is a major challenge to the growth of this market.

Meticulous Research^® has segmented this market based on technology, offerings, deployment mode, enterprise size, end-use industry, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the country level.

Based on technology, the Europe digital transformation market is segmented into mobility solutions, internet of things, network connectivity, digital twins & simulation, robotic process automation, cloud computing, artificial intelligence and machine learning, AR & VR, additive manufacturing & 3D printing, big data & analytics, and cybersecurity. In 2024, the cloud computing segment is estimated to account for the largest share of the Europe digital transformation market. The large share of this segment is attributed increasing adoption of Software-as-a-Service (SaaS) offerings, easy signing up for cloud computing services, Easy storage of vast amounts of data, availability of renting storage spaces based on flexible needs of the company, affordability of cloud services among others.

Based on offerings, the Europe digital transformation market is segmented into hardware, software, and services. In 2024, the software segment is expected to account for the largest share of the Europe digital transformation market. The large market share of this segment is attributed to the growing demand for automation in business processes, the growing adoption of technologies such as AI/ML, and the increasing demand for automation in every industry sector is driving the growth of this segment.

Based on enterprise size, the Europe digital transformation market is segmented into small & medium enterprise, and large enterprise. In 2024, the large enterprise segment is expected to account for the largest share of the Europe digital transformation market. The large share of this segment is attributed to the ability of large enterprises to invest in digital transformation technologies and faster scale up the digital technologies to meet the business requirements. Moreover, large enterprises are heavily investing in sustainable solutions to achieve the net zero carbon emissions targets set by various entities at the government level as well as organizational level. Digital transformation technologies are at the forefront of sustainability initiatives, and hence, the share of large enterprises is expected to be highest during the forecast period.

Based on deployment mode, the Europe digital transformation market is segmented into cloud and on-premise. In 2024, the cloud segment is expected to account for the largest share of Europe digital transformation. The large market share of this segment is attributed to the increasing adoption of cloud architecture by various organizations, enhanced IT compliances and security, lowered complexity of IT infrastructure management, and reliability of cloud solutions.

Based on end use industry, the Europe digital transformation market is segmented into retail, government & public sector, healthcare, supply chain & logistics, utilities, manufacturing, BFSI, IT & telecom, media & entertainment, transportation, and other end-use industries. In 2024, the media & entertainment segment is expected to account for the largest share of the Europe digital transformation market. The large share of this segment is attributed to the penetration of various digital technologies, such as AI, big data analytics, and AR/VR, among others, in the media and entertainment sector. Big data analytics has the highest adoption rate in sports. AR/VR is revolutionizing the gaming industry with an immersive gaming approach. AI has become a leading technology being used by OTT players and music streaming services to personalize content delivery based on individual preferences. Machine learning and big data technologies are playing a crucial role in understanding the likings and preferences of individuals based on their social media activities and in turn, targeting them with customized advertisements of products and services which they are most likely to purchase.

Based on geography, the Europe digital transformation market is segmented into Germany, the U.K., France, Italy, Spain, Poland, Netherlands, Sweden, Switzerland, Belgium, Austria, Finland, Norway, and the Rest of Europe. In 2024, Germany is expected to account for the largest share of the Europe digital transformation market. The large share of this country is attributed to having a strong industrial base and high investments in Industry 4.0, such as smart manufacturing and automation. The widespread presence of basic digital skills among the German public and being the leading country in Europe in regards to preparations for the launch of the 5G network are supporting the large market share of Germany during the forecast period.

Key Players:

The key players operating in the Europe digital transformation market are IBM Corporation (U.S.), Siemens AG (Germany), Microsoft Corporation (U.S.), SAP SE (Germany), Capgemini SE (France), ABB Ltd. (Switzerland), Deutsche Telekom AG (Germany), Telefónica S.A. (Spain), Accenture plc (Ireland), TE Connectivity Ltd. (Switzerland), NXP Semiconductors N.V. (Netherlands), Telefonaktiebolaget LM Ericsson (Sweden), Disperse.io LTD. (U.K.), Happeo (Finland), Pigment (France).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5697

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of technology, offerings, enterprise size, deployment mode, end-use industry, and geography?
What is the historical market size for Europe’s digital transformation systems?
What are the market forecasts and estimates for the period 2024–2030?
What are the major drivers, opportunities, and challenges in the Europe digital transformation market?
Who are the major players, and what shares do they hold in the Europe digital transformation market?
What is the competitive landscape like?
What are the recent key developments in the Europe digital transformation market?
What are the strategies adopted by major players in this market?
What are the key geographic trends and high-growth countries?

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Redding, California - July 4, 2024

Europe Digital Transformation Market to be Worth $832.84 Billion by 2030

Europe Digital Transformation Market by Technology (IoT, Cloud Computing, Big Data Analytics, AI/ML, Cybersecurity, Mobility Solutions, AR/VR, RPA), Offerings, Enterprise Size, Deployment Mode, End-use Industry, and Geography - Forecast to 2030

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