The Europe Digital Transformation Market was valued at approximately USD 532.1 Billion in 2023 and is expected to grow at a robust CAGR of around 16.14% during the forecast period (2024-2032)

Digital technologies are dramatically reshaping every industry, several companies are doing large-scale change efforts to capture the benefits of the ongoing digital transformation trend or simply to keep up with their competitors.  

On average, European

firms are less often fully digital, and are particularly lacking in the

construction sector, dragging down the digital intensity score. Furthermore, US firms invest more in business process improvements

compared to the European

counterparts. However, firms in the European region and the US perceive digital

infrastructure similarly. The rapid increase in the number of people using

smartphones, mobile devices and other similar gadgets coupled with the ease of

accessibility of numerous applications

across various platforms has paved the way for digitalization augmenting the

Europe Digital Transformation Market. For instance, the number of smartphone

users across the Europe stood at 541.2

million in 2020, representing a penetration rate

of 72.4%. Total number of smartphone user in Europe is expected to reach 648.2 million by 2027. With

increasing number of smartphone users, means the companies can easily promote

their product and services offering via mobile

technology.  

The Internet of Things is expected to become a

multi-trillion-dollar industry soon owing to its increasing scope in various

industrial vertical. Furthermore, many businesses are adopting cloud services

due to their ability to transform business models, as it reduces the need for

in-house IT expertise, offers

flexibility for scaling, and consistent applications rollout and maintenance.

Only 66% of manufacturing firms in the Europe have adopted at least one digital technology, compared to

78% in the US. The difference is particularly large in the construction sector,

where the share of digital firms in Europe stands at 40%, compared to 61% in

the US. In the service sector the difference between Europe and US is 13% and 11% in

the infrastructure sector.  

Based on the component, the Europen digital

transformation market is bifurcated into Solutions and Services. The solution

sub-segment is further divided into cloud computing, big data and analytics,

mobility, disruptive technology, and social media. Moreover, Service segment is

divided into professional services and system integration. Service segment generated

revenue of US$ 66.1 billion in 2020. Solution segment is expected to witness CAGR growth of 15.16%

during the forecast period. Based on Deployment type the market is segmented into

On-premises and cloud deployment. On-Premise’s segment is expected

to witness CAGR growth of 13.83% during the forecast period. 

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Based on end-user the Europen digital

transformation market is bifurcated into large enterprises and SME’s. Owing to high cost of digital

technology deployment large enterprise invested most on digital technology. Based on industry vertical, the market is fragmented into

BFSI, healthcare, telecom & IT, automotive, education, retail &

consumer goods, media & entertainment, manufacturing, government, and

others. Healthcare segment is

expected to witness highest CAGR growth of

18.95% during the analyzed period. 

Additionally, the report provides

detailed initiatives that are being taken in the field of digital transformation. The market is

classified into distinct countries including Europe (Germany, UK, Russia, France, Italy, Spain, Rest of Europe). Germany dominated the % share in 2020. However, Spain is

expected to witness highest CAGR

growth of 19.76% during the forecast period. IBM Corporation, Cognizant, SAP SE,

Dell, Microsoft Corporation, Adobe Systems Incorporated, Accenture PLC, Capgemini, Oracle Corporation, and Google Inc are some of the prominent players operating in the global digital

transformation market. Several M&A’s

along with partnerships have been undertaken by these players to develop digital technologies among industries. 

Europe Digital Transformation Market

Segmentation 

Market Insight, by Component       

Solution 

Cloud Computing 

Big Data & Analytics 

Mobility 

Disruptive Technology 

Social Media    

Services     

Professional Services 

System Integration 

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 Market Insight, by Deployment Type             

On-Premises        

Cloud 

Market Insight, by End-User       

Large Enterprises                

Small and Medium Enterprises 

Market Insight, by Industry Verticals  

Banking Financial Services & Insurance (BFSI)          

Government 

Healthcare            

Telecommunication & IT          

Automotive     

Education             

Retail & Consumer Goods     

Media & Entertainment 

Manufacturing                

Others 

Market Insight, by Country             

Europe  

Germany 

UK 

Russia 

France 

Italy  

Spain 

Rest of Euro 

Top Company Profiles                  

Accenture PLC            

Adobe Systems Incorporated          

Capgemini    

Cognizant        

Dell          

Google Inc        

IBM Corporation 

Microsoft Corporation                    

Oracle Corporation            

SAP SE 

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