U.K. Digital Transformation Market Worth $146.63 Billion By 2030

 U.K. Digital Transformation Industry Overview

The U.K. digital transformation market size is expected to reach USD 146.63 billion by 2030 and grow at a CAGR of 22.2% from 2022 to 2030, according to a recent report by Grand View Research, Inc. The growth can be attributed to the increasing e-government and smart city initiatives, growing internet penetration, and rapid adoption of digital services in various industry sectors. The expanding use of the Internet of Things (IoT), machine learning, and Artificial Intelligence (AI) in digital transformation has prompted a key trend in the market for digital transformation strategy consulting. This has created unrivaled opportunities for organizations to harness the disruptive power of emerging technologies for better decision-making, distinct competitive advantages, and other profitable payoffs.

 

U.K. Digital Transformation Market Segmentation

Grand View Research has segmented the U.K. digital transformation market based on solution, deployment insights, enterprise size, end-use:

 

Based on the Solution Insights, the market is segmented into Analytics, Cloud Computing, Mobility, Social Media, Others ((Cybersecurity, IoT, and AI, among others)

  • The analytics segment accounted for the largest market share of 35.4% in 2021. It allows businesses to have granular information about specific or different groups of customers. Businesses need to focus on the idea of harnessing organizational data to enhance business value. Additionally, these analytics tools (Cloud ERP systems and chatbots) can help small business owners see the impact of the decisions they make using this data, as well as current trends and projections. To complete their digital transformation, therefore, businesses need to adopt big data and data analytics.
  • The cloud computing segment is expected to grow at a CAGR of 22.9% during the forecast period The need for faster deployment, development, delivery, and higher flexibility increases the demand for cloud computing. Several companies have adopted the digital transformation process to add value to the business, upgrade the IT infrastructure, and be competitive.

 

Based on the Deployment Insights, the market is segmented into Hosted and On-premise

  • The on-premise segment accounted for the largest market share of 53.9% in 2021. Several businesses choose on-premise solutions due to the ease of customizability presented during implementation. The on-premise deployment makes operations possible by storing the data in one location, effectively managing end-to-end student information.
  • The hosted segment is expected to grow at a CAGR of 25.7% over the forecast period. The growth can be attributed to the massive developments in information sharing technologies and the growing utilization of mobile phones. Hosted deployment provides superior flexibility, and higher cost-effectiveness, and allows wide-scale customization of products and services. 

 

Based on the Enterprise Size Insights, the market is segmented into Large Enterprise, Small and Medium Enterprise

  • The large enterprise segment accounted for the largest market share of 58.2% in 2021. Several large enterprises have implemented digital transformation solutions due to the benefits such as easy system integration & implementation, cost efficiencies, data privacy, and flexibility. These enterprises can speed up the digital transformation and implement exhaustive digital strategies across processes efficiently due to their strong economic position.
  • The Small and Medium Enterprises (SMEs) segment is expected to grow at a CAGR of 23.7% over the forecast period. The growth in the number of SMEs in the region is driving the demand for the deployment of digital manufacturing solutions owing to their business optimization capabilities. 

 

Based on the End-use Insights, the market is segmented into BFSI, Government, Healthcare, IT & Telecom, Manufacturing, Retail, Others (Education, Construction, Energy & Utilities, and Telecommunications)

  • The BFSI segment held a market share of 27.7% in 2021, attributed to the increasing adoption of digital technology by financial services companies and the surge in the need for digital services among the fintech to enhance and improve the customer experience.
  • The healthcare segment is expected to grow at a CAGR of 24.0% over the forecast period. The segment growth can be attributed to the surge in the adoption of novel and advanced technologies (AI, IoT, and machine learning) across various applications within the industry. Furthermore, several digital healthcare solution providers are now focusing on offering technology-enabled care solutions to enable easy access to data and information and to improve the quality and outcome of health and social care. 

 

Key Companies Profile & Market Share Insights

For instance, in February 2022, Deloitte Consulting, the U.K.-based professional services provider, announced the acquisition of National Tele Consultants (NTC), a technology firm with expertise in the domain of media and broadcast, to provide end-to-end digital transformations for the media supply chain. 

Some prominent players in the U.K. digital transformation market include:

  • Accenture PLC
  • Adobe Inc.
  • Roland Berger
  • Dell Inc.
  • Google LLC
  • Hewlett Packard Enterprise Development LP
  • International Business Machines Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Alvarez & Marsal

 

Order a free sample PDF of the U.K. Digital Transformation Market Intelligence Study, published by Grand View Research.

 

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