The global digital transformation market is estimated at $ 998.99 billion by 2020, with a CAGR of 2744. $ 68 billion by 2026 and $ 204 billion by 2026-2026.
New York, November 18, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of “Digital Transformation Market – Growth, Trends, CV-19 Impact and Forecasts (2021 – 2026)” – – https://www.reportlinker.com/p06184948/?utm_source=GNW
With the advent of Industrial 4.0 in the manufacturing industry, various plants are using digital technologies to improve the overall process, automate and modernize. The integration of various digital transformation technologies, such as the Internet of Things, is gaining momentum. It also helps digital transformation companies improve their brand, customer experience and customer retention ratio through software application. Digital transformed organizations can adapt to the technology landscape and withstand sudden changes in the industry.
The integration of Big Data with new technology has made managing larger data easier than ever, and manufacturing companies from big data to forecasting analysts are relying on these innovative tools. German Mechanical and Plant Production Association By 2020, big data-based business models are expected to generate at least 7% more revenue for German manufacturers.
Of all the technologies, Artificial Intelligence is ready to play a significant role in the forecast period. AI is also used to increase security by providing preventive maintenance, but there are increasing risk factors. In this regard, AI-based intelligent cameras are used to reach the scene of an accident and minimize the potential damage.
In addition, as a result of the UK’s first National Petroleum and Natural Resource Storage (NDR), the Oil and Gas Authority (OGA) is using AI in parallel. It uses AI to interpret data, and, according to OGA estimates, allows for new oil and gas forecasts and additional production from existing infrastructure.
The COVID-19 epidemic and the global locking ban have affected capital investment and industrial activity around the world. Most enterprises in the major consumer industries (mainly manufacturing, automotive) have closed their production facilities due to locking restrictions.
Key market trends
The adoption of industrial robotics is expected to grow exponentially
Industry 4.0, the new Industrial Revolution, has introduced new technologies such as Collaborative Robots, SCARA Robots, Single Rod, AI-enabled Robots and newly developed Exxods. And avoid mistakes. Increased workplace safety and improved productivity have further encouraged industries to invest in robotic systems.
Rapidly changing market demand and the dynamic development of information technologies are making a significant contribution to digital transformation. Industrial robots now play an important role in industrial automation because robots control many major industries. Manufacturers are taking on robots to automate repetitive processes with increasing demand in economies. The growth of the automotive sector is largely driven by the rapid growth in industrial robotics.
Key market players such as ABB Yumi and Coca-Cola LBR iiwa have launched robots that improve employee safety. The ease of use of plug and play collaborative robots has recently attracted a lot of attention. Industrial robots are widely used in mass production and production-based assembly applications, followed by spot welding, manufacturing, automotive, electronics and other industries.
The pharmaceutical industry has had some significant impact over the past year. Since the outbreak of the COVID-19 global epidemic, the industry has had to change its approach to respond to emerging and changing health conditions. Automation is therefore one of the key ways in which companies in this industry maintain the required product and maintain social remote controls. As a result of these changes, life sciences and the pharmaceutical industry have made great strides in robotics over the past year. With the new robot commands, there is an increase of 69% a year.
A.D. In 2020, a growing theme in global manufacturing was the concept of a future factory or fully integrated factory. Advances in AI integrated robotics and other data-driven processes push robotics into adoption, making it more widely available for purchase. However, the Covide-19 outbreak initially hampered the growth and production of robots, which had a negative impact on the market in early 2020. The outbreak also disrupted automotive production and disrupted supply chains. However, the market has received little interest when robotics are used in plants to fill the gaps between social workers.
Asia Pacific is expected to have a large market share
The use of advanced technologies such as cloud computing, AI, big data and analytics, mobility / social media, cyber security, IOT has led to innovation and change, thereby boosting business growth in the Asia Pacific. Digital technologies have transformed the old approach to business into a modern approach. In addition, the region is becoming a new turning point in the digital transformation market due to the increasing investment in the digitalization process in potential economies.
The digital transformation market is booming with government initiatives, retail investments and more. In September 2021, the Japanese government launched a digital agency to drive Japan’s digital transformation as an administrative reform agenda. Government action has pushed the digitalization of the government sector.
Increasing efforts by governments to push digitalisation in the region with major technology companies around the world. For example, in February 2021, CCCC included a number of industry positions, including government, education, health, and trade, with the Government of Japan on a digitalisation project.
South Korea’s Ministry of Science and ICT has announced that in July 2021, Korea has launched a comprehensive plan to transform digital capabilities into a thriving economy, with the aim of expanding digital innovation in the field of artificial intelligence. (AI) and data. Digital New Deal is a strategic and preparatory investment for the global digital economy by developing Korea’s digital potential. Such agreements, collaborations and partnerships are expected to drive further market growth.
The digital transformation market is relatively fragmented. The players have adopted a variety of development strategies such as partnerships, deals and collaborations and new product launches and product enhancements to further expand their presence in the market and expand their customer base.
October 2021 – Siemens Smart Infrastructure acquires Watsense, a French hardware and software company, brings Siemens Construction Product Line to a new level, providing a plug-and-play IoT management system for small and medium-sized buildings. Wattsense was founded in 2017 in Dardelli, France near Lyon.
August 2021 – Kobota Corporation forms a strategic partnership with Accenture to improve its business model to accelerate sustainable digital transformation to further contribute to food, water and environmental sustainability solutions. The partnership will provide services to Kobata, both locally and internationally, through services including services including digital technologies, artificial intelligence and the Internet.
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