Europe Digital Transformation Market (2024-2030)
The Europe Digital Transformation Market to reach $832.84 billion by 2030, at a CAGR of 18.5% from 2024 to 2030.
- Published
- Oct 2023
- Pages
- 300
- Format
- PDF + Excel
- Report ID
- MRICT - 1041014
- Base year
- 2023
- 2030 · FORECAST
- $832.8B
- 2030
- $832.8B
- CAGR 2024–2030
- 18.5%
2023 baseline · 2024–2030 forecast at 18.5% CAGR · hover a bar for the value
Key highlights
The Cloud Computing Segment to Account for the Largest Share of the Europe Digital Transformation Market
The Software Segment to Account for the Largest Share of the Europe Digital Transformation Market
Large Enterprise Size Segment is Expected to Grow at the Fastest CAGR During the Forecast Period
The Media & Entertainment Segment to Dominate the Europe Digital Transformation Market in 2024
Germany to Dominate the Europe Digital Transformation Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024–2030 |
| Market Size (2030) | USD 832.84 billion |
| CAGR (2024–2030) | 18.5% |
| Format | PDF, Excel & Cloud Portal · 300 pages |
| Segments Covered | By Technology: Mobility Solutions, Internet of Things, Network Connectivity, Digital Twin & Simulation, Robotic Process Automation, Cloud Computing, Artificial Intelligence and Machine Learning, AR & VR, Additive Manufacturing and 3D Printing, Big Data & Analytics, Cybersecurity · By Offering: Hardware, Software, Services Consulting Services, Planning and Designing Services, Engineering Services, Support and Maintenance Services, Application Development Services, Network Infrastructure Management Services, Other Services · By Enterprise Size: Small & Medium Enterprises, Large Enterprises · By Deployment Mode: Cloud, On-premise · By End-use Industry: Retail, Government & Public Sector, Healthcare, Supply chain & Logistics, Utilities, Manufacturing, BFSI, IT & Telecom, Media & Entertainment, Education, Transportation, Other End-use Industries |
| Countries Covered | Europe (U.K., Germany, France, Italy, Spain, Poland, Netherlands, Denmark, Belgium, Austria, Sweden, Switzerland, Finland, Norway) |
| Key Companies | IBM Corporation (U.S.), Siemens AG, Microsoft Corporation (U.S.), SAP SE, Capgemini SE, ABB Ltd., Deutsche Telekom AG, Telefónica S.A., Accenture plc, TE Connectivity Ltd., NXP Semiconductors N.V., Telefonaktiebolaget LM Ericsson, Disperse.io LTD. (U.K.), Happeo, Pigment |
Report overview
Segments covered: technology, offering, enterprise size, deployment mode, end-use industry. Regions: Europe.
The growth of this market is attributed to the increasing investments in sustainability initiatives in various industries, a stronger focus on resilient supply chains by leveraging analytics, growth of flexible work culture, remote talent management, and continued focus on cybersecurity. In addition, long-term investments in Europe to boost digital technologies, data-driven, analytics-based customer experience approach, and increasing adoption of blockchain as a mainstream technology are expected to offer significant opportunities for the growth of this market.
However, the lack of harmonized digitalization in SMEs across Europe hampers the growth of this market. In addition, the lack of tailored support for SMEs in different industries to support their digital transformation initiatives is a major challenge to the growth of this market.
Report infographic
Market dynamics
1 factors across 1 forceDigital Europe Program
Table of contents
13 chapters · 122 sections · 300 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2030) |
|---|---|---|
| By Technology | Cloud Computing | — |
| By Offering | Software | — |
| By Enterprise Size | — | Large enterprise |
| By End use | Media & Entertainment | — |
By Technology
- The Cloud Computing Segment to Account for the Largest Share of the Europe Digital Transformation Market
- The European digital transformation market is expected to be predominantly dominated by the cloud computing sector.
- This significant share is credited to the growing adoption of Software-as-a-Service (SaaS) solutions, the ease of onboarding cloud computing services, efficient storage of extensive data volumes, the availability of flexible storage solutions tailored to a company's needs, and the cost-effectiveness of cloud services, among other factors.
By Offering
- The Software Segment to Account for the Largest Share of the Europe Digital Transformation Market
- The software segment is expected to account for the largest share of the Europe digital transformation market.
- The large market share of this segment is attributed to the growing demand for automation in business processes, the growing adoption of technologies such as AI/ML, and the increasing demand for automation in every industry sector is driving the growth of this segment.
By Enterprise Size
- Large Enterprise Size Segment is Expected to Grow at the Fastest CAGR During the Forecast Period
- The large enterprise segment is expected to grow at the highest CAGR during the forecast period.
- The high growth of this segment is ascribed to the ability of large enterprises to commit resources to digital transformation technologies and swiftly enhance their digital capabilities to align with their business requirements.
- In addition, these major enterprises are directing substantial investments towards sustainable solutions in line with the net-zero carbon emissions objectives set by government bodies and organizations.
- Digital transformation technologies play a pivotal role in driving these sustainability initiatives, which is why the prominence of large enterprises is expected to persist as the most substantial throughout the projected period.
By End use
- The Media & Entertainment Segment to Dominate the Europe Digital Transformation Market in 2024
- The media and entertainment sector is poised to command the largest share of the European digital transformation market.
- This large share is attributed to the extensive integration of diverse digital technologies, such as AI, big data analytics, AR/VR, and more, within the media and entertainment industry.
- Big data analytics boasts the highest adoption rate in the sports domain.
- AR/VR innovations are spearheading a revolution in the gaming industry, providing immersive gaming experiences.
- AI has emerged as a prominent technology embraced by OTT platforms and music streaming services to deliver personalized content tailored to individual preferences.
- Machine learning and big data technologies play a pivotal role in comprehending individuals' interests and inclinations gleaned from their social media interactions, thereby enabling precise and tailored product and service advertisements that are most likely to resonate with their preferences.
Geographic analysis
Europe
Largest shareIn 2024, Germany is expected to account for the largest share of the Europe digital transformation market. The large share of this country is attributed to having a strong industrial base, high investments in Industry 4.0, such as smart manufacturing and automation. The widespread presence of basic digital skills among the German public and being the leading country in Europe as regards to preparations for the launch of the 5G network are supporting the large market share of Germany during the forecast period. Germany to Dominate the Europe Digital Transformation Market
Competitive landscape
- IBM Corporation (U.S.)
- Siemens AG · Germany
- Microsoft Corporation (U.S.)
- SAP SE · Germany
- Capgemini SE · France
- ABB Ltd. · Switzerland
- Deutsche Telekom AG · Germany
- Telefónica S.A. · Spain
- Accenture plc · Ireland
- TE Connectivity Ltd. · Switzerland
- NXP Semiconductors N.V. · Netherlands
- Telefonaktiebolaget LM Ericsson · Sweden
- Disperse.io LTD. (U.K.)
- Happeo · Finland
- Pigment · France
Frequently asked questions
The Europe digital transformation market is segmented based on technology, offerings, deployment mode, enterprise size, end-use industry, and geography. The study also evaluates industry competitors and analyses the country-level markets.
Cite this report
Meticulous Research. (2023). Europe Digital Transformation Market - Opportunity Analysis and Industry Forecast (2024-2030) (Report No. MRICT - 1041014). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/europe-digital-transformation-market-5697