GITNUX MARKETDATA REPORT 2024

Digital Adoption Industry Statistics

The digital adoption industry is expected to grow rapidly with a projected market value of over $10 billion by 2025.

Highlights: Digital Adoption Industry Statistics

  • The global digital adoption platform market size was valued at USD 2.6 billion in 2020.
  • It is expected to expand at a compound annual growth rate (CAGR) of around 21.34% from 2021 to 2028.
  • As of 2021, 70% of employees still lack proficiency in digital tools used at work.
  • Despite significant investment, 64% of companies still need help with digital adoption.
  • The Asia Pacific region is projected to witness the highest growth in digital adoption platforms, with a CAGR of 23.2% between 2021 to 2028.
  • The small-medium business segment is expected to achieve the fastest growth rate at 24.8% over the forecast period.
  • In 2020, the digital adoption software industry saw an acceleration of trends and software revenue growth at nearly 2.2x the 2019 levels.
  • The impact of COVID-19 on digital adoption shattered C-suite estimations of tech adoption timelines, condensing 5-year strategic plans into only a few months.
  • More than 75% of consumption in India is digitally influenced.
  • Cloud-based deployment accounted for the highest share in the market in 2020 at around 61.0%.
  • The BFSI end-use segment accounted for the largest revenue share in 2020 at over 32.0%.
  • The U.S. alone digital adoption platform market size crossed USD 900 million in 2020.
  • About 60% of organizations face difficulties in training their employees on new software.
  • 70% of digital transformations in 2020 didn't reach their goals.
  • The majority of digital adopters (55%) are struggling to achieve scale across their corporate portfolio.
  • By 2028, the global digital adoption platform market is expected to reach $15.8 billion.
  • By 2022, about 70% of enterprises expect to implement artificial intelligence as a part of their digital adoption strategy.

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The Latest Digital Adoption Industry Statistics Explained

The global digital adoption platform market size was valued at USD 2.6 billion in 2020.

The statistic indicates that the market for digital adoption platforms worldwide, which help organizations implement and effectively utilize digital tools and technologies, was valued at USD 2.6 billion in the year 2020. This figure reflects the total revenue generated by companies offering digital adoption solutions to assist businesses in streamlining their digital transformation processes, enhancing user adoption of software applications, and improving overall operational efficiency. The market size suggests a growing demand for digital adoption platforms as more companies focus on leveraging technology to drive innovation, productivity, and competitiveness in today’s digital age.

It is expected to expand at a compound annual growth rate (CAGR) of around 21.34% from 2021 to 2028.

This statistic indicates the projected growth rate of a particular entity, such as a company, industry, or market, over a specific period from 2021 to 2028. The compound annual growth rate (CAGR) of 21.34% suggests that, on average, the entity is anticipated to grow by that percentage each year over the mentioned timeframe. This implies a substantial and consistent growth trajectory for the entity. A CAGR takes into account the compounding effect, meaning the growth rate is applied to the increasing base of the entity’s value each year, resulting in an exponential growth pattern. Therefore, this forecast suggests a significant expansion in the entity’s size, revenue, market share, or other relevant metrics over the specified seven-year period.

As of 2021, 70% of employees still lack proficiency in digital tools used at work.

The statistic “As of 2021, 70% of employees still lack proficiency in digital tools used at work” indicates that a significant majority of employees are not sufficiently skilled in utilizing digital tools that have become integral in the modern workplace. This statistic suggests that there may be a gap in training and education in organizations, hindering employees from effectively leveraging technology to perform their duties. The lack of proficiency in digital tools could impact productivity, efficiency, and competitiveness in businesses. Addressing this issue through targeted training programs and upskilling initiatives may be crucial for organizations to unlock the full potential of their workforce in the digital age.

Despite significant investment, 64% of companies still need help with digital adoption.

The statistic “Despite significant investment, 64% of companies still need help with digital adoption” indicates that a majority of companies are struggling to effectively incorporate and utilize digital technologies within their operations, despite putting in substantial financial resources towards this goal. This suggests that there are challenges or barriers hindering these companies from fully embracing digital tools and practices, potentially leading to inefficiencies, decreased competitiveness, or missed opportunities for growth and innovation. The statistic highlights the ongoing need for support and guidance in navigating the complexities of digital adoption to ensure that organizations can maximize the benefits of their investments in technology.

The Asia Pacific region is projected to witness the highest growth in digital adoption platforms, with a CAGR of 23.2% between 2021 to 2028.

The statistic indicates that the Asia Pacific region is expected to experience the most rapid increase in the adoption of digital platforms between 2021 and 2028, with a Compound Annual Growth Rate (CAGR) of 23.2%. This suggests a significant advancement in the ways businesses and individuals in the region utilize digital technologies to enhance operations, increase efficiency, and drive innovation. The high growth rate signifies a strong demand for digital solutions and services in the Asia Pacific market, reflecting a shift towards digital transformation and the increasing importance of technology in various sectors such as e-commerce, healthcare, finance, and education. Organizations operating in this region may need to adapt quickly to leverage the opportunities presented by the expanding digital landscape and to stay competitive in the evolving market environment.

The small-medium business segment is expected to achieve the fastest growth rate at 24.8% over the forecast period.

This statistic indicates that the small-medium business segment is projected to experience the most rapid expansion compared to other business sectors, with a growth rate of 24.8% over the forecasted period. This suggests that small and medium-sized enterprises are poised for significant development and economic advancement in the near future. Factors such as increased market demand, favorable economic conditions, technological advancements, or supportive policies may contribute to this anticipated growth rate. As a result, businesses operating within this segment may have opportunities to capitalize on this growth potential and achieve higher levels of success and profitability compared to larger enterprises or other market segments.

In 2020, the digital adoption software industry saw an acceleration of trends and software revenue growth at nearly 2.2x the 2019 levels.

The statistic indicates that in 2020, the digital adoption software industry experienced a significant increase in both trend acceleration and software revenue growth compared to the previous year. Specifically, the revenue growth in 2020 was almost 2.2 times higher than the levels observed in 2019. This suggests that there was a strong demand for digital adoption software in 2020, likely driven by the increasing need for organizations to adapt to the digital transformation accelerated by the COVID-19 pandemic. The industry’s remarkable growth in 2020 signifies a rapid progression towards digitalization across various sectors and highlights the importance of digital adoption tools in enhancing operational efficiency and effectiveness.

The impact of COVID-19 on digital adoption shattered C-suite estimations of tech adoption timelines, condensing 5-year strategic plans into only a few months.

This statistic highlights the immense acceleration in digital adoption that occurred as a result of the COVID-19 pandemic, exceeding the expectations of C-suite executives regarding the timeline for incorporating technology into their organizations. What was originally projected to unfold over a span of five years in terms of tech adoption and digitization strategies was compressed into just a few months due to the urgent need for remote work, virtual collaboration, e-commerce, and other digital solutions brought about by the global health crisis. This rapid shift underscores the adaptability and agility of businesses in response to unforeseen challenges, as well as the critical role that technology plays in enabling continuity and innovation during times of disruption.

More than 75% of consumption in India is digitally influenced.

The statistic “More than 75% of consumption in India is digitally influenced” indicates that a significant portion of economic transactions in India are influenced by digital platforms such as e-commerce, social media, online advertising, and mobile applications. This means that consumers’ purchasing decisions, behavior, and preferences are increasingly shaped by digital technologies and interactions. The high percentage suggests a growing reliance on digital channels for product research, comparison, and purchases, reflecting the widespread adoption of technology and internet connectivity in India’s consumer market. As a result, businesses in India need to prioritize their digital marketing strategies and online presence to effectively reach and engage with customers in this digital-influenced environment.

Cloud-based deployment accounted for the highest share in the market in 2020 at around 61.0%.

The statistic indicates that cloud-based deployment was the most popular method used by companies in 2020, with a market share of approximately 61.0%. This suggests that a majority of organizations chose to leverage cloud computing services to host and run their software applications rather than deploying them on physical servers or on-premises infrastructure. The high adoption rate of cloud-based deployment may be attributed to its scalability, flexibility, cost-effectiveness, and ease of implementation, which have become increasingly important factors for businesses seeking to modernize their technology infrastructure and improve operational efficiencies.

The BFSI end-use segment accounted for the largest revenue share in 2020 at over 32.0%.

The statistic implies that among all the end-use segments in 2020, the Banking, Financial Services, and Insurance (BFSI) sector contributed the highest proportion of revenue, specifically accounting for over 32.0% of the total revenue generated. This suggests that the BFSI sector was a key driver of economic activity or revenue generation during that year. It could signify the sector’s significant size and prominence within the market, highlighting its importance in terms of financial contributions and potentially indicating a strong performance or demand for products/services within the sector in 2020.

The U.S. alone digital adoption platform market size crossed USD 900 million in 2020.

The statistic “The U.S. alone digital adoption platform market size crossed USD 900 million in 2020” indicates that the total market value of digital adoption platforms in the United States exceeded $900 million in the year 2020. This suggests that there is a significant demand for digital adoption platforms in the U.S. business landscape, which are tools designed to help organizations effectively utilize and maximize the benefits of various digital technologies. The figure of $900 million underscores the importance and growth of digital transformation initiatives within U.S. companies, highlighting the increasing reliance on technology for innovation and operational efficiency.

About 60% of organizations face difficulties in training their employees on new software.

The statistic “About 60% of organizations face difficulties in training their employees on new software” highlights a common challenge faced by a majority of organizations when it comes to technology adoption. Training employees on new software is essential for ensuring that they can effectively utilize the tools and systems required for their roles. The fact that such a high percentage of organizations struggle with this process suggests that there may be various barriers hindering successful software training implementation, such as insufficient resources, complex software interfaces, lack of effective training strategies, or resistance to change among employees. Addressing these difficulties and investing in robust training programs is crucial for organizations to leverage the full potential of new software systems and stay competitive in today’s rapidly evolving digital landscape.

70% of digital transformations in 2020 didn’t reach their goals.

The statistic ‘70% of digital transformations in 2020 didn’t reach their goals’ indicates that a significant majority of companies that underwent digital transformations in 2020 failed to achieve their intended objectives. This could be attributed to various factors such as inadequate planning, lack of organizational buy-in, insufficient resources, or unexpected challenges such as the global pandemic. The high failure rate underscores the complexities and risks associated with digital transformations and highlights the importance of strategic planning, effective change management, and continuous evaluation and adaptation throughout the transformation process to increase the likelihood of success.

The majority of digital adopters (55%) are struggling to achieve scale across their corporate portfolio.

The statistic indicates that a significant portion of companies that have adopted digital technologies are facing challenges in scaling these technologies across their entire corporate portfolio. In other words, while a majority of digital adopters may have successfully implemented certain digital tools or strategies in one part of their business, they are encountering difficulties in expanding these implementations to other areas within the organization. This can potentially hinder the overall effectiveness and impact of digital transformation efforts, highlighting the importance of overcoming scalability barriers to fully leverage the benefits of digital technologies across the entire corporate landscape.

By 2028, the global digital adoption platform market is expected to reach $15.8 billion.

The statistic indicates that the global digital adoption platform market is projected to grow significantly and reach a market value of $15.8 billion by the year 2028. This forecast suggests a strong upward trend in the adoption of digital adoption platforms, which are tools designed to help organizations enhance the utilization of digital technologies and improve user experiences. The anticipated growth of this market is likely driven by increasing digital transformation initiatives across various industries to streamline operations, increase efficiency, and better serve customers. The substantial market size forecast underscores the growing importance of digital adoption platforms in empowering businesses to adapt to the rapidly evolving digital landscape and stay competitive.

By 2022, about 70% of enterprises expect to implement artificial intelligence as a part of their digital adoption strategy.

The statistic suggests that a significant majority of enterprises are planning to integrate artificial intelligence into their digital adoption strategy by the year 2022. This indicates a growing trend in the business sector towards leveraging AI technology to improve operational efficiency, enhance decision-making processes, and drive innovation. Implementing AI can provide companies with a competitive edge by enabling them to automate tasks, analyze data more effectively, and deliver personalized customer experiences. As AI continues to advance and become more accessible, it is becoming increasingly important for businesses to embrace this technology to stay relevant and thrive in today’s rapidly evolving digital landscape.

Conclusion

Through the analysis of digital adoption industry statistics, it is evident that businesses across various sectors are increasingly embracing digital tools and technologies to enhance operational efficiency and improve customer experiences. The growing demand for digital adoption platforms underscores the need for organizations to prioritize digital transformation initiatives to stay competitive in today’s rapidly evolving landscape. As trends continue to evolve, staying informed and proactive in leveraging digital adoption trends will be crucial for driving sustainable growth and success.

References

0. – https://www.www.mckinsey.com

1. – https://www.www.grandviewresearch.com

2. – https://www.www.statista.com

3. – https://www.www.globenewswire.com

4. – https://www.www.forbes.com

5. – https://www.www.oracle.com

6. – https://www.www.bcg.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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