Press release
Digital Transformation Market : Influential Factors Determining the Trajectory of the Market.
Digital transformation describes the adaptation of a company’s value proposition, technology strategy and operational model to the fundamental changes brought by digital technologies. Digital transformation technologies are transforming organization’s business models, value chains, ecosystem as well as revolutionizing its interaction with customer through online platforms, social media and mobile devices.Digital transformation takes in digital services and digital software which are becoming mainstream in various major verticals such as banking, financial services and insurance (BFSI) sector, manufacturing and retail sector as these services and software enhance customer experience at all the levels of customer touch points.
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FMI has segmented MENA digital transformation market into digital software and digital services. Digital services segment dominated the market with over half of the overall MENA digital transformation market share in 2014.
However, this is expected to decrease by 70 BPS by 2020. The digital software segment been further sub-segmented into digital content and application, digital sales & commerce, digital marketing, digital consumer experience & service, and digital integration platform software. Among all the digital software sub-segments, digital content and application and digital sales & commerce software sub-segments dominated the market in 2014.
Digital service segment includes digital consulting, digital technology implementation, digital technology integration and digital operations & management service. Of all the previously mentioned sub-segments, digital technology implementation sub-segment dominated the market in 2014 followed by digital technology integration service sub-segment.
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By end-user vertical banking, financial services and insurance (BFSI) and public sectors dominated with over 40% share of the MENA digital transformation market in 2013. However, the media & entertainment sector sub-segment is projected to exhibit the fastest CAGR during the forecast period, followed by the retail sector sub-segment.
Ongoing infrastructural modernisation across major GCC and North African countries in MENA region in terms of digitisation is leading to an increase in uptake of digital software and digital services across end-user verticals.
Key players in the MENA digital transformation market are continuing to innovate by including advanced features into digital technology solutions. Additionally, major participants such as IBM, Accenture and Deloitte have been focusing on mergers and acquisitions in order to expand their geographical presence and enhance customer base. Major players included in the report are IBM Corporation, CGI Group Incorporation, Accenture PLC, Deloitte Touche Tohmatsu Limited, Booz & Co. and PWC.
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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.
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