Dublin, Oct. 18, 2024 (GLOBE NEWSWIRE) -- The "Spain Digital Transformation - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024-2029)" report has been added to ResearchAndMarkets.com's offering.
The Spain Digital Transformation Market size is estimated at USD 35.29 billion in 2024, and is expected to reach USD 80.56 billion by 2029, growing at a CAGR of 17.95% during the forecast period (2024-2029).
Spain's digital transformation is propelled by initiatives such as the Digital Spain 2025 plan, which focuses on bolstering digital skills, infrastructure, and public services. Both public and private sectors are significantly enhancing their investments in technology and innovation. The surge in remote work has amplified the momentum toward digitalization, a trend catalyzed by the COVID-19 pandemic.
In June 2024, the President of the Spanish Government, alongside the Minister for Digital Transformation and Public Function and the Director of the Office of Economic Affairs and G20, convened a meeting with the newly formed International Advisory Council on Artificial Intelligence. The newly established Council, formed by the Ministry for Digital Transformation and Public Function, comprises ten prominent global Artificial Intelligence and Digital Transformation experts. Their mandate is to provide guidance on the pivotal facets of technology development, including trends, challenges, and opportunities.
The transformation is further bolstered by the proliferation of high-speed internet and 5G networks. This, coupled with an increasing focus on digital education and entrepreneurship, underpins the shift. Partnerships between businesses, educational bodies, and governmental entities are pivotal in driving this evolution. Also, Internet penetration in Spain has surged, propelled by the ubiquitous use of mobile phones. This expansion is bolstered by substantial investments in digital infrastructure, such as broadband networks and cables, enhancing internet access and speed.
In June 2024, Microsoft unveiled its inaugural cloud data center region in Spain, spanning several sites in the Community of Madrid. This strategic move positions Microsoft to deliver advanced Artificial Intelligence and cloud services to Spanish enterprises and public bodies and a broader European audience. The emphasis is on assuring clients of top-tier reliability, security, privacy, and data residency. The introduction of the new cloud region, Spain Central, is poised to expedite the digital transformation of Spanish organizations, bolster the AI economy in Spain, and foster the expansion of the domestic IT sector.
However, the digital transformation market in Spain is restricted by factors such as insufficient digital skills among the workforce, limited access to high-speed internet in rural areas, regulatory challenges, and rising concerns about data security and privacy.
Spain Digital Transformation Market Trends
- IoT Segment Expected to Occupy the Largest Market Share
- IT and Telecom Sector Expected to Witness Significant Growth Opportunities
Spain Digital Transformation Industry Overview
Spain's Digital Transformation market is highly fragmented. Key players in the studied market encompass Accenture PLC, IBM Corporation, Microsoft Corporation, and Google LLC. Market players are bolstering their portfolios and pursuing enduring competitive edges through strategic partnerships and product innovations.
- April 2024: At the Moncloa Complex, Pedro Sanchez, the President of the Government, and Dario Gil, Senior Vice President of IBM and Director of IBM Research, signed a pivotal agreement. This accord, a collaboration between the Executive and IBM, is set to pave the way for the creation of core Artificial Intelligence models. Notably, these models will be in Spanish and the co-official languages.
- April 2024: The Digital Transformation Department of Catalonia announced the establishment of an Artificial Intelligence Commission, referred to as the AI Commission. The Digital Transformation Department has identified the AI Commission as a strategic entity established under the Government Agreement GOV/45/2024 on February 27, 2023. Its primary objectives include spearheading initiatives to enhance and oversee the overall integration of artificial intelligence within Catalonia's public services, assessing the ramifications of AI adoption, and guaranteeing adherence to regulatory standards, ethical guidelines, and inter-agency coordination.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 INDUSTRY ECOSYSTEM ANALYSIS
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increase in the Adoption of Big Data Analytics and Other Technologies in Spain
5.1.2 The Rapid Proliferation of Mobile Devices and Apps
5.2 Market Restraints
5.2.1 Concerns About the Privacy and Security of Information
6 CURRENT MARKET SCENARIO AND EVOLUTION OF DIGITAL TRANSFORMATION PRACTICES
7 KEY METRICS
7.1 Technology Spending Trends
7.2 Number of IoT Devices
7.3 Total Cyberattacks
7.4 Technology Staffing Trends
7.5 Internet Growth and Penetration in Spain
7.6 Digital Competitiveness Ranking
7.7 Fixed and Mobile Broadband Coverage
7.8 Cloud Adoption
7.9 AI Adoption
7.10 E-commerce Penetration
8 MARKET SEGMENTATION
8.1 By Type
8.1.1 Analytics, Artificial Intelligence, and Machine Learning
8.1.1.1 Current Market Scenario and Market Projections for the Forecast Period
8.1.1.2 Key Growth Influencers (Drivers, Challenges, and Opportunities)
8.1.1.3 Use Case Analysis
8.1.1.4 Market Outlook
8.1.2 Extended Reality (XR)
8.1.3 IoT
8.1.4 Industrial Robotics
8.1.5 Blockchain
8.1.6 Additive Manufacturing/3D Printing
8.1.7 Cybersecurity
8.1.8 Cloud and Edge Computing
8.1.9 Other Types (Digital Twin, Mobility, and Connectivity)
8.2 End-user Industry
8.2.1 Manufacturing
8.2.2 Oil, Gas, and Utilities
8.2.3 Retail & E-commerce
8.2.4 Transportation and Logistics
8.2.5 Healthcare
8.2.6 BFSI
8.2.7 Telecom and IT
8.2.8 Government and Public Sector
8.2.9 Other End-user Industries (Education, Media & Entertainment, Environment, etc.)
9 COMPETITIVE LANDSCAPE
9.1 Company Profiles
9.1.1 Accenture PLC
9.1.2 Google LLC (Alphabet Inc.)
9.1.3 IBM Corporation
9.1.4 Microsoft Corporation
9.1.5 Cognex Corporation
9.1.6 Hewlett Packard Enterprise
9.1.7 SAP SE
9.1.8 Capgemini
9.1.9 Oracle Corporation
9.1.10 Adobe Inc.
9.1.11 Siemens AG
10 KEY TRANSFORMATIVE TECHNOLOGIES
10.1 Quantum Computing
10.2 Manufacturing as a Service (MaaS)
10.3 Cognitive Process Automation
10.4 Nanotechnology
For more information about this report visit https://www.researchandmarkets.com/r/3uk52m
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