In the digital era, well designed, well-informed, and activated business strategies are very crucial and inevitable for any business, thus generating the need of digital transformation consulting market. Digitization alters the consumer needs and behavior, as a ripple effect, the nature of business and competition also needs to change at a great speed and scale. Digital strategy consulting services helps in building enterprise leadership and business goals, talent requirements, business structure and organizational models, and data & technology primacies necessary to execute a business successfully. While efficiency remained a top priority for investments in digital, the major driving force behind digital investments was the requirement for growth.
Ongoing trends of simplification of operating models and simplification of processes engenders the demand for consulting services in the digital transformation age is expected to drive the global market during the forecast period. The similar demand traction in digital transformation consulting is anticipated to be observed after the forecast period as well. Additionally, migration of traditional IT infrastructure to the new age mobile computing solutions and IT infrastructure migration to cloud infrastructure and digital infrastructure are some of the important drivers responsible for the boom in digital transformation consulting market globally. However, data safety and reliability anxieties among the customers are anticipated to work as a restraint in the growth of global digital transformation consulting market across.
The global IT consultancy services market is segmented based on type of service, enterprise size, and end use industry. The services type segment is classified as professional services and managed or outsourced services. Based on enterprise size, the digital transformation consulting market is categorized into small & medium sized enterprises and large enterprises. Large enterprises are expected to hold a dominant share in the market while small & medium sized enterprises are expected to have a relatively small share at present, however, it is expected to grow at a decent rate. The end use industry segment of digital transformation consulting market is sub segmented into transportation and logistics, banking financial services and insurance (BFSI), healthcare and pharmaceuticals, oil & gas, manufacturing, IT & telecom, automotive, government & defense, and others which includes chemicals, education.
Currently, the ‘big four’ professional service firms including Deloitte LLP, Ernst & Young, KPMG International and PricewaterhouseCoopers LLP collectively hold majority of shares in the global digital transformation consulting market. While firms with a strong technology and strategy services background, seems to be well-placed for the next phase of the digital transformation consulting market. However, Deloitte is anticipated to be holding more of such consulting work than any other global consulting firm in market.
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The global digital transformation consulting market based on geography, is segmented into five regions which include North America, Europe, Middle East &Africa (MEA), Asia Pacific, and South America. The demographic analysis across the different regions of the world is anticipated to show North America as the largest region contributing to the revenue generation of the global digital transformation consulting market. Europe is anticipated to observe a significant market share during the forecast period. Asia Pacific is also expected to witness a remarkable growth during the forecast period owing to the large amount to transformations happening across the region in each industry. Furthermore, Middle East & Africa and South America are expected to show steady growth in the coming years. The global Digital transformation consulting market, analysis across major counties of the above mentioned regions include Canada, the U.S., U.K., France, Germany, Italy, China, India, GCC countries, South Africa, and Brazil.
Players operating in the digital transformation consulting market provide advanced and scalable services in domestic and international markets. Some of these major players include Accenture plc, Capgemini Services, Bain & Company, Inc., SAS Institute Inc., Computer Sciences Corporation, Deloitte LLP, Dell EMC, Ernst & Young, Hewlett Packard Enterprise, Globant S.A., IBM Corporation, KPMG International, McKinsey & Company, Kurt Salmon Associates, Mercer LLC, PricewaterhouseCoopers LLP, Oracle Corporation, Publicis Groupe SA, Inc., The Boston Consulting Group, Inc., Salesforce.com, and Wipro Limited.
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