Enterprise Data Integration Market COVID-19 analysis, Market Dynamics, Challenges, Regional Insight by forecast 2027

 Market Dynamics 

Enterprise data integration market 2020 is all set to attain a strong valuation of USD 3.90 billion by 2027, affirms Market Research Future (MRFR). MRFR also reckons that the market size can advance at a rate of 12.6% from 2020 to 2027, which is the assessment period. We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been studied in the report, which offers an in-depth analysis post the coronavirus disease outbreak. 

COVID-19 Analysis

The COVID-19 pandemic has given a massive boost to technological trends, which were already advancing tremendously in recent years. For instance, cloud services have gained more popularity now than ever before, post the SARS-CoV-2 outbreak. The impact of the COVID-19 outbreak has been notable, with the work-from-home model gaining traction to maintain business operations. Moreover, there has been a significant surge in traffic, be it on Zoom or Netflix due to the increasing online content consumption after the lockdown imposed in several countries.

The enterprise data integration solutions market has been a big gainer since the advent of the novel coronavirus, given the growth of cloud computing and the increased need for business analytics among enterprises. Moreover, since the onset of the pandemic, the enterprise data integration market has observed an increase in acquisitions, mergers and partnerships between acclaimed players; strategies that the companies are leveraging to solidify their position.

To cite a reference, in June 2020, Alation entered a partnership with Databricks, a unified analytics platform provider for AI and data, to devise more number of data science-led innovations. The companies are working on a data integration software that can offer a platform to the data teams to identify and benefit from the ideal data for data science as well as analytics, discover cloud data lakes, and work together on data to develop top quality predictive models along with business insights.

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Primary Drivers and Main Challenges 

In the past couple of years, data integration market has been riding high, as a result of the increasing use of computers and various portable devices such as tablets and smartphones across diverse industries. Several enterprises are progressively adopting the latest technologies in an attempt to achieve useful data insights for their business, which has led to stupendous market growth across the world.

The accelerated uptake of IoT-based technologies, industrialization, cloud computing and digitalization is induced considerable need for better quality data integration tools, whether for cloud, hybrid or legal workflow processes, which has caused a significant boom in the worldwide market.

Market Segmentation 

The enterprise data integration industry can be narrowed down to segments like component, deployment, organization size, business application as well as end user.

The key components analyzed in the market study are services and software/tools. The service types considered in the report are professional services and managed services.

The categories depending on deployment include cloud-based along with on-premise.

The organization size ranges included in the market research are large enterprises and small & medium enterprises/SMEs.

The business applications of data integration technology include sales, marketing, finance, human resources and operations.

Some of the key end-users in the worldwide market are manufacturing, energy and utilities, healthcare, retail, BFSI, media and entertainment, IT and Telecom, and more.

Regional Insight 

North America, APAC/Asia Pacific, Europe, and RoW/the rest of the world are the main markets for enterprise data integration.

North America is currently in the lead out of all the regions, given the high demand for integration tools among various industries to streamline and extract data. Technical advancements are quite frequent in the region, with high prevalence of technologies like IoT, big data, cloud computing, artificial intelligence, and more, which causes generation of massive volumes of data. A sizeable portion of the global tech giants is headquartered in North America, some of which include IBM Corporation, Oracle Corporation, Microsoft Corporation, and others, who offer a wide range of tools, software and services to enterprises. This presents a lucrative outlook for the enterprise data integration market in the region.

Europe has clinched the second position in the global market, thanks to the large number of financial companies present in the region that are responsible for the generation of colossal volumes of data. The high number of research centers across the region also warrants major market growth. BFSI remains the top end-user in the regional market, while Germany remains at the vanguard of the business growth.

The fastest expansion rate can be procured by the APAC market, with the top growth boosters believed to be the increasing technology-based innovations and the surge in data generation in line with rising digitalization across industries. A majority of the players in the region are concentrating on building advanced data integration software and tools to cater to industries that desire to extract valuable data from the unorganized structure, leading to higher market expansion.

The RoW market, comprising the Middle East & Africa/MEA and South America, can advance at a notable rate in the ensuing years. The expanding industrial sector in the region and the increasing expenditure by the telecom and IT companies on data integration services and tools can benefit the market to a large extent. The RoW market is led by MEA, which can also attain the fastest expansion rate over the appraisal period. 

Prominent Competitors 

MRFR lists the prominent competitors in the market as Information Builders Inc. (US), Oracle Corporation (US), Pitney Bowes Inc. (US), HVR Software Inc. (US), SAS Institute Inc. (US), Informatica Corporation (US), Cisco Systems, Inc. (US), SAP SE (Germany), Denodo Technologies (US), IBM Corporation (US), Microsoft Corporation (US), Syncsort Incorporated (US), Actian Corporation (US), Attunity Ltd. (US), Talend Inc. (US), to mention a few.

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Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

Continued…

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Digital Vault Market COVID-19 Analysis, Market Overview, Segmentation. Regional Overview Forecast Till 2027

 Market Overview and COVID-19 Analysis

The global digital vault market is a rapidly growing space, witnessing rapid digital usage turned into an established digital dependency. Digital vaults had been witnessing continually rising revenues before COVID 19 pandemic. However, the pandemic gave a true wake-up call for digital assets, making the security of these assets a major concern. 

Especially with intermittent lockdowns across the globe, not only personal uses and social media but also currency, banking, education, businesses, and insurance created a permanent digital space for themselves. With the growing digital usage and internet users, the market is forecasted to grow exponentially during the years ahead. 

According to Market Research Future (MRFR), the global digital vault market is poised to reach an exponential valuation by 2027, registering an impressive CAGR throughout the forecast period (2020-2027). Additionally, the immensely growing need for asset management/ data management and rapidly growing numbers of enterprises influence the market growth. 

Besides, the market rise attributes to the growing penetration of the internet, and smart and connected devices and cloud-based solutions create substantial market demand, generating an enormous amount of data. The adoption of cloud-based solutions for service virtualization & containerization escalates the market growth.

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Market Segmentation

The global digital vault market has been segmented based on organization size, industry verticals, and components. On the basis of organization size, the market for digital vault is segmented based on SMEs and large enterprises. Additionally, the market on the basis of components, is segmented into privileged account management, IAM, digital asset management, DLP, services. The global market for digital vault is also covered based on industry vertical segment which is further split into BFSI, government and defense, retail and consumer goods.

Factors like growing demand from multiple end-use sectors as well as increasing incidents of cyber attacks on organizations around the world support the digital vault market growth. The performance of the digital vault market has also been studied for the past and current years. Additionally, the digital vault market report provides analysis of these segments. The digital vault market segmental analysis provided in the report offers major details about the digital vault market based on the data and forecasts till 2027.

Regional Overview

Companies in the digital vault market are spread across the world. The digital vault market report provides major information about regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The North American digital vault market has many companies across the United States, Canada, and Mexico. The digital vault market of the Middle East, Africa, and other regions has also been studied by analysts. The regional analysis of the digital vault market can be found in the market research report. Europe has companies in the digital vault market across Germany, France, Spain, Italy, and the United Kingdom. A detailed analysis of the digital vault market across India, China, and Japan in the Asia-Pacific region is also presented in the report.

Competitive Analysis

Highly competitive, the digital vault market appears fragmented due to the presence of several well-established players. To gain a substantially larger competitive share, mergers & acquisitions, collaboration, innovation, and expansion remain key trends for these players. 

Major Players:

Players active in the global digital vault market include Hitachi (Japan), IBM (US), Micro Focus (UK), Microsoft (US), Cyberark (US), Fiserv (US), Keeper Security (US), Logic Choice (US), TokenEx (US), and Accruit (US), among others.

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Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

Continued…

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Data Colocation Market COVID – 19 Outbreak, Market Analysis, Key Players and Regional Forecast till 2027

 Market Analysis 

The global data colocation market is predicted to touch USD 51 billion at a healthy 12% CAGR between 2020- 2027, states the recent Market Research Future (MRFR) analysis. Data center colocation, simply put, is a process to rent out network bandwidth, physical space, and other resources by a company in an existing data center. This process allows sharing the resources of the existing data center for hosting and deploying data center solutions for external organizations. Large scale and small scale are the different service types, while server and storage, cooling units, network hardware, and others are its different components. Owing to its alluring features and plentiful benefits, data colocation has wide applications in energy, government, healthcare, IT and telecom, banking and insurance, and others. 

Various factors are propelling the global data colocation market share. According to the recent MRFR report, such factors include the growing need for scalable data centers, increasing data center complexities, reduced overall IT expenditure, and growing adoption of online shopping. Additional factors adding market growth include the rise in smartphone users, the need to cut down operational cost and capital expenditure, availability of wide choices for small companies, full control of server, required power backup, and security of information. 

On the contrary, stringent government policies and regulations, location restraints for colocation facilities, high start-up and maintenance costs, and the on-going COVID-19 impact are factors that may limit the global data colocation market growth over the forecast period.

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Impact of COVID-19

The outbreak of the COVID-19 pandemic has impacted the global economy severely as it has affected various sectors such as BFSI, energy, and IT & telecom significantly. The pandemic has led to lockdown restrictions being imposed in the majority of the countries around the world, which has resulted in supply chain disruptions in the industrial sector. Additionally, the pandemic has resulted in the shutting down or halting of manufacturing units, delays in the completion of several projects, and among other adverse effects. Thus, the global market has been severely impacted by the COVID-19 pandemic. However, the data colocation market is growing at a significant rate owing to the rising demand for data collection, analysis, and storage. Such factors showcase a strong demand for data centers. Companies such as Microsoft Corporation, Facebook, Google Inc., Verizon, Zoom, and Netflix have seen a huge surge in data traffic due to the lockdown restrictions implemented worldwide. However, the outbreak of COVID-19 and strict lockdown measures have posed several challenges across industries. These abovementioned factors are expected to influence the data colocation market over the next few months.

Market Segmentation

The MRFR report highlights an inclusive segmental analysis of the global data colocation market based on end users, components, and service type. 

By service type, the global data colocation market is segmented into large scale and small scale. Of these, the large scale segment will lead the market over the forecast period. 

By components, the global data colocation market is segmented into server and storage, cooling units, network hardware, and others.

By end users, the global data colocation market is segmented into energy, government, healthcare, IT and telecom, banking and insurance, and others. Of these, the IT and telecom segment will dominate the market over the forecast period. 

Regional Analysis

Based on the region, the global data colocation market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW). Of these, North America will have the lions share in the market over the forecast period. The growing number of data center needs in IT capacity, presence of top data center service providers, use of advanced infrastructural architecture, and the rising adoption from different industries including BFSI, government, and others are adding to the global data colocation market growth in the region. 

The global data colocation market in the APAC region is predicted to grow at a fast pace over the forecast period. The surging rise in data production and the booming telecom and IT sector is adding to the global data colocation market growth in the region. 

The global data colocation market in Europe is predicted to have sound growth over the forecast period. Increasing investments by top industry players are adding to the global data colocation market growth in the region. 

Key Players 

Leading players profiled in the global data colocation market report include American Telephone & Telegraph, Inc. (U.S.), DuPont Fabros Technology, Inc. (U.S.), Interxion Holding NV (Netherlands, Europe), Verizon Communication, Inc. (U.S.), KDDI Telehouse Corporation (Japan), Global Switch Corporation (UK), CoreSite Realty Corporation(U.S.), CenturyLink, Inc.(U.S.), SunGard Availability Services (U.S.), and Equinix, Inc. (U.S.). Industry players have incorporated strategies such as acquisitions, partnerships, mergers, joint ventures, collaborations, new product developments, strategic alliances, and contracts, among others, to stay at the forefront. 

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Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

Continued…

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Cloud Database Market COVID – 19 Impact Analysis market highlights, scope, Competitive Outlook Forecast Till 2027

 Market Highlights

Cloud database is a database service which can be used in storing and managing files through the cloud. Enterprises can host databases on the cloud without access to hardware. The ability to scale business at a rapid pace using cloud is likely to lead to its adoption by businesses of all sizes. The global cloud database market report compiled by Market Research Future (MRFR) evaluates various growth opportunities and trends amid the COVID-19 pandemic and changes in business models for the period of 2020 to 2027 (forecast period).

Market Scope

The global cloud database market is expected to reach USD 21.66 billion growing at 46.78% CAGR over the forecast period. The advent of internet of things (IoT) and rise of cloud computing are major drivers of the market. Implementation of cloud databases for improving service, lowering cost, and expediting services can benefit the market. Rise in digitization of data and the move towards cloud by organizations of all sizes can be a golden opportunity for cloud database providers.

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Rise of application development and mass computing can drive the adoption of cloud databases by organizations making it easier for app developers in storing, migrating, and sharing data. The virtual nature of cloud databases allow it to recover from crashes and failures in programs quicker and the disposability nature can drive the market demand in the global cloud database market. It can cover machines and entire data centers.

But concerns of data security can impede market growth.

Competitive Outlook

SAP AG, CenturyLink, CSC (Computer Science Corporation), Salesforce.com Inc., Google Inc., Oracle, Amazon.com, Rackspace Inc., IBM, and Microsoft are key players in the global cloud database market.

Segmentation

By database, the cloud database market is divided into SQL database and NoSQL database.

By model, this market is segmented into service model and deployment model. By service model, the market is further segmented into private cloud, virtual private cloud, public cloud, and hybrid cloud. Deployment model segmentations include infrastructure as a service (IaaS), database as a service (DBaaS), and platform as a service (PaaS). By deployment model, the DBaaS segment can provide security to data with tight surveillance and software upgrades designed to maintain the integrity of data stored in the database.

By component, the market is segmented into software and service. By software the market is segmented into database application builder, database encryption, data scaling and replication, backup and recovery, and others. By service, the market is segmented into training and consulting service, system and network integration service, and deployment and maintenance service.

By organization size, the market is segmented into large enterprise and small and medium-sized enterprise.

By end-user, the market is segmented into academic, BFSI, healthcare, IT and telecom, government, and others.

Regional Analysis

The regional analysis of cloud database market is considered for North America, Europe, Asia-Pacific, and the rest of the world.

Implementation of IoT and increasing adoption of cloud-based services in North American countries such as the US and Canada is expected to dominate the cloud database market during the assessment period. Several investments and research and developments are taking place in the US owing to the increasing need for cloud database by the IT companies. This in turn ensures an enhanced cloud infrastructure coupled with the provision of network security for the cloud database users.

Increase in the adoption of security based applications in Asia-Pacific is expected to enhance the cloud database market. Hence, Asia-Pacific is expected to be the fastest growing region in the market during the forecast period. Europe is expected to witness a significant growth in the market owing to the growing need for managed database solutions from the prominent IT companies investing in the European markets.

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Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

Continued…

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Cloud Billing Market COVID – 19 Analysis, Segmented analysis, Regional Analysis, Key Players Forecast Till 2027

 Market Overview

The global cloud billing market size is projected to register an exponential CAGR during the forecast period from 2020 to 2027.

Segmented Analysis

According to Market Research Future, the global cloud billing market has been segmented based on component, type, deployment, and region/country.

The process of generating bills using resource data with predefined billing policies is referred to as cloud billing. The purpose of having a cloud billing component is to provide an interface for generating usage bills. The end users of the cloud billing service module enable service-oriented architecture that comprises both functional and non-functional requirements. The functional requirements include a quote service, conversion functions & policies, payment schemes, and user identification, whereas the non-functional requirements include security, scalability, standards, and fault tolerance. The cloud billing in an organization benefits by lowering overall investment, higher scalability & service availability, and secured services. 

Based on type, the global cloud billing market has been divided into subscription billing, cloud service billing, metered billing, one-time, and provisioning.

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Based on deployment, the global cloud billing market has been divided into public cloud, private cloud, and hybrid cloud.

By end user, the global cloud billing market has been divided into BFSI, IT & telecom, energy & utility, healthcare, media & entertainment, retail, transportation & logistics, and others.

The cloud billing market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Regional Analysis

The geographic analysis of the market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

For the purpose of analysis, the North American market has been divided into the US, Canada, and Mexico. In terms of market size, it is expected to be the largest region globally to adopt cloud billing solutions and services. The US is projected to be the leading country-level market owing to adoption from media & entertainment, BFSI, IT & telecom, and sector.

While the cloud billing market in Europe is segmented into Germany, the UK, France, and the rest of Europe. Government initiatives to boost digital transformation, regulatory compliance, and rapid economic growth across countries such as the UK and Germany are the key factors driving the growth of the cloud billing market in the region.

Asia-Pacific is projected to report the highest growth rate, mainly due to the growth of emerging economies such as China and India at a fast pace. The regional market has been segmented into China, India, Japan, and the rest of the Asia-Pacific. China is the leading country-level market, while India is projected to be the fastest-growing country during the forecast period. The Chinese market is expected to report the highest market share, owing to factors such as a large number of enterprises across industry verticals adopting cloud billing solutions and services. Furthermore, the demand for usage-based subscription billing from end consumers is adding momentum to the market growth. Additionally, India is witnessing an increase in the number of technology providers willing to automate the billing services with the help of a cloud billing platform.

The market in the Middle East & Africa and South America is expected to register steady growth during the study period with the growing demand for cloud billing.

Key Players

The key players in the global cloud billing market are Zuora Inc. (US), IBM Corporation (US), Cerillion (UK), AMDOCS (US), Oracle (US), Amazon Web Services, Inc. (US), NEC Corporation (Japan), SAP SE (Germany), Aria Systems, Inc. (US), Cloudability (US), Jamcracker, Inc. (US), FinancialForce (US), ReckNap (US), CLOUD ASSERT LLC (US), and Tridens d.o.o. (Slovenia).

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Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

Continued…

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Block chain-as-a-Service Market COVID – 19 Analysis, Business Revenue, Future Scope, Market Trends, Key Players, and Forecast till 2027

 Market Highlights

Blockchain is a revolutionary technology that has created a major impact on the financial sector and digital identification in North America and Europe. With increasing globalization, transactions have become more cumbersome. For any monetary transaction, the involved parties in the transactions need to have mutual trust— a buyer and a seller. For the same, a traditional sales process includes a load of paperwork, an intermediary, and high cost. However, in Asia-Pacific countries, the companies are eagerly shifting their preference towards simplifying their business processes while eliminating middlemen. Blockchain-as-a-service holds the potential to transform the government sector in resolving the challenges associated with data transactions faced in government operations. Furthermore, the key retail firms in countries such as the US, the UK, Germany, France, and India are collaborating with blockchain service providers to develop a platform that uses blockchain technology to track the origins of raw materials across global supply chains. Moreover, the government of the Netherlands has launched more than 25 blockchain trials. Dutch banks, energy companies, pension funds, and the Port of Rotterdam are all testing the digital ledger technology providing the Netherlands with high opportunity in different sectors and industries.

Key Players

MRFR recognizes the key players in the global Blockchain-as-a-Service market as – Cognizant, Infosys Limited, Capgemini SE, NTT Data Corporation, Huawei Technologies Co. Ltd., HPE, Baidu, Inc., Tata Consultancy Services Limited, KPMG, Wipro Limited, IBM Corporation, Microsoft Corporation, SAP SE, Amazon Web Services, Oracle Corporation, Accenture PLC, and Deloitte Touche Tohmatsu Limited.

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The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.

Key Segments

By platform, the current market is dominated by the Ethereum platform segment. Hyperledger platform is expected to grow at a higher rate in the forecast period.

By components, the services segment accounts for a larger market share and is expected to grow at a higher CAGR in the coming years.

By cloud, the public cloud segment accounts for the largest market share; it is expected to grow at the highest rate during the forecast period.

By organization-size, the market is dominated by large enterprises, however, the SMEs segment is expected to grow at a higher rate.

By application, the payment management application accounts for the largest market share and identity management application is expected to grow at the highest rate.

By vertical, the BFSI vertical accounts for the largest market share and the retail and e-commerce segment is expected to adopt BaaS solutions and are expected to register the highest CAGR during the forecast period.

Regional Analysis

The global market for Blockchain-as-Service is estimated to grow at a significant rate during the forecast period from 2018 to 2024. The geographical analysis of Blockchain-as-Service market has been studied for North America (the US, Canada, Mexico), Europe (the UK, Germany, France, Spain, Italy, the rest of Europe),  Asia-Pacific (China, Japan, India, Singapore, Australia, the rest of Asia-Pacific) and the rest of the world (the Middle East and Africa and South America).

Among these, the North America region dominates the market due to the presence of key market players such as IBM Corporation, Microsoft Corporation, Amazon Web Services, Oracle Corporation, HPE and others offering cloud-based blockchain-as-a-service solutions which are accelerating the market growth in this region. Countries such as the US, Canada, and Mexico are expected to witness growth in the adoption of BaaS to streamline critical business processes such as payments, supply chain, transportation, logistics, and auditing. North America region is expected to experience a surge in various trends such as 5G, transactive energy, and micro-grids during the next five years. In 2018, RealChain and North America Blockchain Association (NABA), a non-profit organization, collaborated to promote the technology to identify fake high-end luxury products using blockchain and AI-based image recognition.

Europe accounted for the second-largest market share owing to government support in prioritizing the adoption of blockchain for the future of financial transactions and data storage across the European countries. Increasing adoption of BaaS in BFSI and retail & e-commerce sector in countries such as the UK, Germany, France, Sweden, the Netherlands, and Switzerland drives the market growth in this region. Rise in the spending in research projects by the European Union in the field of blockchain technology is also another factor which is expected to drive the market in the coming years. In April 2018, 22 countries of the European Union declared a European Blockchain Partnership (EBP) to establish European Blockchain Services Infrastructure (EBSI) to support the delivery in cross-border digital public services including a high standard of security and privacy. Blockchain companies from the European Economic Area (EEA) will be able to conduct business through the fully-licensed, German Solaris Bank. Huge adoption of digital transactions creates an opportunity for having a nationalized blockchain-enabled registered system promoting market growth.

Asia-Pacific region accounted for the third-largest market share; it is expected to grow at a higher rate during the forecast period due to large scale adoption of BaaS solutions in the financial service sector that has also witnessed the highest rate of blockchain technology testing. Furthermore, significant investments by venture capitalists for research and development of this technology and increasing number of blockchain start-ups in the region also contribute to the blockchain-as-a-service market. Key market players have already established their customer base in countries such as China, Japan, India, South Korea, Australia, New Zealand, Singapore, Malaysia, and the Phillippines generating revenue for the BaaS market in this region. For instance, in 2017, State Bank of India (SBI) a government-owned bank partnered with BankChain and Intel to implement blockchain solutions that run on Hyperledger Sawtooth and Intel Software Guard Extensions (Intel SGX). The solution aims at increasing the efficiency of financial transactions without having to compromise on data confidentiality and transaction security.

South America and the Middle East & Africa region presents immense growth opportunities for key market players due to the growing need among organizations to improve their efficiency, agility, security, and integrity is expected to increase investments in blockchain technology. Various enterprises in countries such as the UAE, Bahrain, Saudi Arabia, Oman, South Africa, Nigeria, Brazil, Colombia, and Chile are rapidly adopting BaaS solutions with strong support from the government promoting the market growth. In April 2018, the UAE Government launched the Emirates Blockchain Strategy 2021, that aims at capitalizing on the blockchain technology to transform 50% of government transactions into the blockchain platform by 2021, promising the market growth in this region.

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Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

Continued…

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Digital Transformation in Healthcare Market COVID-19 Impact, Outlook and Future Scope Analysis Forecast till 2027

 Market Highlights

The Global Digital Transformation in Healthcare Market is expected to register a CAGR of 14.5% during the forecast period of 2020–2027. There are various factors contributing to the growth of digital transformation in healthcare, such as, the increasing requirement for a secured path among health organizations, hospitals, clinics doctors, companies and others for information sharing, which has become convenient with the advent of digital transformation. Moreover, the increasing generation of data by pharmaceutical companies, hospitals, medical research organization has also led to market growth. There are various benefits of digital transformation in healthcare; for instance, it protects private, public and other critical information with the help of integration of cybersecurity solutions. Additionally, AI is currently being used in the detection of diseases such as breast cancer with more accuracy and precision at its early stage as compared to traditional mammograms. According to the American Cancer Society, AI is capable of providing 30 times faster results with 99% accuracy which reduces the need for unnecessary biopsies.

Regional Analysis

The global digital transformation in the healthcare market is estimated to grow at a significant rate in the future. The geographical analysis of digital transformation in the healthcare market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.

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North America dominates the global digital transformation in the healthcare market, by region, due to the early adoption of the digital transformation across healthcare industry. and increasing requirement of these solutions for securing the authenticated information. Additionally, the increasing online tractions among the healthcare enterprises and users is also increasing in the region also drives the growth of the market. The market in North America has been further segmented based on countries into the US, Canada, and Mexico. The US holds the largest market share in North America, followed by Canada and Mexico. The US dominates in the region due to the presence of various key vendors such as IBM Corporation, Microsoft Corporation, Dell EMC and others.

The Europe is has the second largest market share in digital transformation due to presence of various countries such as UK, Germany, France, Italy, Norway, and others which are adoting new technologies such AI, IoT technology, analytics in healthcare and other technology and solution for  to improve their healthcare facilities, which leads to fuel the market growth.

Moreover, Asia-Pacific is considered to be the fastest-growing region due to the rapid adoption of digitalization in the region by developing economies such as India, China, South Korea, and others. The increasing adoption of digital technologies such as AI, AR, VR, blockchain, and others in the region is also considered to drive the market. Moreover, various healthcare companies are using cloud computing to secure and share their data securely. Moreover, the government is also investing in digital transformation of various countries, which eventually is expected to fuel the growth of the market.

Key Players

MRFR recognizes the key players in the global digital transformation in healthcare market as as IBM Corporation (US), Microsoft Corporation (US), SAP SE (Germany), Dell EMC (US), Google LLC (US), Accenture PLC (Ireland), CA Technologies (US), Cognizant (US), Adobe Systems (US), Oracle Corporation (US), Hewlett Packard Enterprise (US), HCL Technologies (India), TIBCO Software (US), Marlabs (US), Equinix (US) among other.

The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities emphasize strengthening their reach to the customers.

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Key Segments

The global digital transformation market has been segmented based on component, organization size, technology, bussiness fuction,end-user and region.

By component, the market has been segmented into hardware, software, and services.

By organization size, the market has been segmented into large enterprises and SMEs.

By technology, the market has been segmented into artificial intelligence (AI), cloud computing, big data & analytics, and internet of things (IoT).

By Business Function, the market has been segmented into customer transformation, workforce transformation, operational transformation, and product transformation

By end-user, the market has been segmented into hospitals, pharmaceutical companies, and clinics and laboratories.

By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

Table of Contents

1 Executive Summary

2 Scope of The Report

2.1 Market Definition

2.2 Scope of The Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

Continued…

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact

Market Research Future

Phone: +1646 845 9312

Email: sales@marketresearchfuture.com