Digital Transformation Consulting Services Market Size, Share, Growth, And Industry Analysis by Type (Online Service, Offline Service) by Application (SMEs, Large Enterprises) Regional Forecast By 2031

Updated On: 08 April 2024

Digital Transformation Consulting Services Market Report Overview

• 
• Request a Free Sample to learn more about this report

The global digital transformation consulting services market size was USD 53.30126 billion in 2021.As per our research, the market is expected to reach USD 234.61 billion by 2031, exhibiting a CAGR of 13.16 % during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with digital transformation consulting services market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

The use of digital technologies like social networking, cloud computing, big data, mobile, and mobility to enhance business operations is known as digital transformation. Businesses are driven to participate in the digital transformation by the desire for company expansion, to reduce operational costs and increase operational efficiency, as well as to track the real-time business operations. As a result of rapidly developing digital technology, organisations are attempting to transform the way they operate. Consulting for digital transformation is a service that combines the strength of design with the efficiency of digital procedures. Digital transformation consulting is the process of integrating digital technology into a company to close the gap between what customers demand and what businesses can provide. Firms need to question the system, try new things, and be open to change in order to revolutionise how value is supplied to consumers. It involves both the reimagining of processes and, in certain cases, the development of whole new business initiatives.

Businesses utilise data analysis and business analytics to gather accurate information, get insights that can be put to use, better understand customer demands, and increase overall productivity. Because the usage of modern technology offers so many alternatives, customers usually rate firms based on their digital customer experience. The bulk of organisations are putting into practise digital transformation plans that are mostly concentrated on online customer communication. This dynamic has led to a development in digital transformation solutions across several industrial sectors. Numerous aspects of contemporary life have changed as a result of the increased usage of smartphones and applications. As a consequence, it is now feasible to automate many phases. Organizations and businesses all over the world are converting their traditional brick-and-mortar operations to online operations thanks to technology. The role of smartphone platforms has also been enhanced by the development of novel technologies like artificial intelligence (AI), machine learning (ML), robotic process automation (RPA), and the Internet of Things (IoT), which has led to an increase of the digital transformation consulting services market size.

COVID-19 Impact: Pandemic Accelerated The Demand For Digital Transformation And Fostered The  Market Growth

Businesses that have undergone digital transformation are less impacted by the Covid-19 pandemic because of internet commerce. As a result of consumers switching to internet channels, numerous firms have made every effort to satisfy this need. Work has been impacted by the social alienation that has been caused by COVID-19 for nearly a year and the decreased office occupancy. Due to resistance to change, employees began working from home, although it was restricted. Businesses are projected to adopt digital in the post-Covid-19 future in order to survive in the competitive climate. Therefore, COVID-19 has sped up the demand for digital transformation and thereby supported the expansion of the digital transformation market. 

Latest Trends

"Organizations' Readiness To Embrace Digital Technology To Establish New Trends Opens Options"

Businesses and political organisations are entering a new phase of consumer involvement where developing revolutions are playing a significant role as a result of significant technological advancements and a continuously changing regulatory environment. To imitate organizational growth, businesses investigate cutting-edge technology like big data, cloud computing, and AI. Modern company strategies have been altered away from the traditional business model approach by digital technologies. To create new goods and solutions and gain an edge, a number of businesses had begun integrating big data and analytics, machine intelligence learning, and other capabilities into their present business platforms. Utilizing digital technology also gives businesses a variety of options and enables them to use customer-focused marketing strategies. 

Digital Transformation Consulting Services Market Segmentation

• 
•  

• Request a Free Sample to learn more about this report

• By type

Depending on digital transformation consulting services given are types: Online Service, Offline Service. The online service type will capture the maximum market share through 2031.

• By Application

The market is divided in SMEs, Large Enterprises based on application. The global digital transformation consulting services market  players in cover segment like SMEs will dominate the market share during 2021-2031.

Driving Factors

"Rising Business Competition And Consumer Demand To Boost Market Growth"

The increasingly competitive corporate environment is the main driver propelling the digital transformation consulting services market growth of the global market for advising on digital transformation. Businesses that embrace innovation, adopt cutting-edge technology, and shift quickly succeed in the marketplace. If established firms fail to seize these chances, a new operator can take advantage of the market's shifting business conditions. Additionally, because of social alienation and consumers' hesitation to spend, the lockdown's aftereffects have not helped businesses recover to their pre-COVID-19 levels. This will force them to tap the digitized realm, which can help them cut costs and expand their target markets while putting less effort into their core operations. In spite of this, developing nations may have greater prospects for market expansion as a result of infrastructure construction that is occurring quickly owing to increased industrialization and improving standards of life.

"Increasing Use Of Big Data And Other Technologies To Support Market Growth"

Innovation and change have been inspired by the use of cutting-edge technologies like cloud, big data and analytics, mobile, and social media, which has encouraged the expansion of the business ecosystem. The historical method of conducting business has been supplanted by a new one thanks to digital technology. Today, data is recognised as a new resource. Businesses are interested in learning insights from collected data so they may instantly make more informed decisions. This demand for in-depth knowledge has pushed the adoption of big data and associated technologies. The global digital transformation consulting services market growth has driven an increase in data quantities and sources is the primary cause of the exponential development in data weight. 

Restraining Factors

"Concerns Regarding Information Security And Privacy May Restrict The Market's Growth"

For organisations of all shapes and sizes, digital transformation continues to be a very exciting endeavor. Utilizing cutting-edge technology to optimise corporate operations and increase competitiveness is undeniably appealing. In contrast, information security and privacy should always be a cornerstone of any project involving digital technology since they are essential to its success. The structure would start to deteriorate. Keeping firm data secure and confidential is essential when implementing new software. current technologies Businesses will seek to increase secrecy and safety as IoT and cloud technologies spread swiftly in order to defend against security weaknesses and attacks. As cloud-based and IoT enabled services are utilised increasingly regularly, the problem of privacy and security information is growing more difficult. As more IoT-enabled devices hit the market and are exposed to increased danger and assault hampering digital transformation consulting services market growth, security and confidentiality problems are expected to increase. Furthermore, retrieving company data may be made easier by mobile devices. Therefore, for the correct implementation of digital technology, robust information security measures are needed.

Digital Transformation Consulting Services Market Regional Insights

• 
•  

• Request a Free Sample to learn more about this report

"North America Will Continue To Dominate The Market Due To Rising Internet Usage And Widespread Use Of Various Online Payment Methods"

Due to rising internet usage and widespread acceptance of various online payment methods, North America maintained the greatest digital transformation consulting services market share  in 2021. The government is also attempting to speed up the digital transformation process in North America through a number of efforts, such as rigorous adherence to legal standards for data protection. Many businesses rely on digital transformation to reach the general public and spur development. The majority of the firms in this region have the very dynamic and adaptive IT support that is needed for digital transformation. As a result of the significant retail, industrial, and automotive activities in Canada and the United States, North America has a dominant position in sophisticated programming and software solutions. 

Due to the sharp rise in the number of SMEs and the rising service sector, the Asia Pacific area is predicted to see the fastest growth over the next eight years for digital transformation consulting services market share. Some of the motivations persuading organisations to upgrade their IT infrastructure in order to ensure future development include the growing knowledge of the benefits of moving to the cloud and the rapid adoption of breakthrough technology. Organizations are embracing digital transformation solutions because they enable employees to make educated decisions while also enhancing the customer experience and streamlining corporate procedures. The factors that are likely to drive the growth of the market in the area include the rapid increase in cell phone users, growing web-based trade, and increased usage of data analytics.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• EY (U.K)
• Globant (Argentina)
• BCG (U.S)
• Oliver Wyman (U.S)
• Bain & Company (U.S)
• Presidio (U.S)
• Deloitte (U.K)
• KPMG (Netherlands)
• Publicis Sapient (U.S)
•  McKinsey (U.S)
• Cognizant (U.S)
• DXC Technology Company (U.S)
• Accenture (Ireland)
• PwC (U.K)
• Box (U.S)
• Capgemini (France)
• IBM (U.S)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.