A new report finds Deloitte ahead of other Big Four firms in the global market for “digital transformation” services.

The report, from Source Global Research, estimates the size of the market at $23 billion worldwide. It includes investments by companies in changing their technology infrastructure and business model. The researchers estimate the Big Four together hold 21 percent of the market among consulting firms, including 12 percent captured by Deloitte.

The report found that digital transformation has taken hold the most in the United Kingdom, where it represents 23 percent of the entire consulting market, compared with 20 percent in the U.S. and 21 percent in Australia.

Among all the client organizations surveyed, 52 percent said growth was one of the two most important factors driving their investment in digital transformation. Among respondents in large organizations, those with annual revenues of $5 billion or more, the proportion rose to 73 percent.

When asked how to predict their investment will change in the next two years, the client organizations polled expect their biggest areas of investment to be in changing business models (70 percent) and improving underlying technology infrastructure (69 percent). However, an 86 percent majority of the larger organizations said they will be increasing their investment connected with making changes to their business model.

“Although our research finds that the strategy firms are best placed for the next phase of digital transformation work, they have not yet asserted themselves on the market," said Source Global Research director Edward Haigh in a statement. "Going forward, no matter which firm type you are, your reputation with the board and your ability to advise clients about their business model will matter most.”

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Michael Cohn

Michael Cohn

Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985.