Digitalization Your browser does not support the audio element. [New] If Amazon's ad revenue grows in line with estimates, it will represent 8% of global digital ad spend by the year 2023, up from 3% in 2018. [New] With a sizeable young population having access to smartphones, digital payments are rising and expected to form 80% of the transactions in India by 2025. [New] The number of digital consumers in South East Asia would reach 310 million by 2025. [New] In 2024, the value of digital commerce sales will exceed $4.11 trillion while mobile POS payment will jump to $4.15 trillion. [New] Spending on digital transformation is expected to reach $2.3 trillion in 2023, accounting for the majority of IT spending for the first time. [New] The Indian digital payment market is expected to more than double in value to $135 billion within the next four years. [New] US B2Bs will spend $8.14 billion on digital ads in 2020, up 22.6% from 2019 when spending was $6.64 billion. [New] In the coming years, China hopes to have mastered national defense big data sufficiently to control or even dominate the informationized warfare environment against great powers. [New] Retail will spend $8.61 billion more on digital ads in 2020 than its next-closest vertical, financial services, and nearly $25 billion more than the lowest-spending industry, travel. By 2025, banks will lose out on $280 billion in payment revenue due to competition from digital payments and non-banks. The average spend per digital consumer will be around US$390 by 2025, over three times more than last year. The number of Southeast Asian digital consumers has grown exponentially and their consumption habits are shaping today's new norm and looking forward, online spending is expected to triple by 2025 and reach close to US$ 150 billion. The impact of digital adoption on businesses has never been more apparent with five years of digital acceleration condensed into one year and in Malaysia we are expecting approximately four million new digital consumers in 2020. Almost 70% of Southeast Asian consumers will go digital by year-end and the growth of digital consumers in Southeast Asia is expected to reach around 310 million by year-end, with millions more expected to join in the coming years. Ecommerce is giving retailers hope: In the U.S., online retail sales are expected to grow 18% in 2020, driven by an increasing number of digital buyers and a rise in average spending. As economic challenges remain for both consumers and retailers, digital loyalty will become a prized differentiator as retail markets become increasingly commoditised. The growth of China's digital economy will reach RMB 60 trillion while the revenue of software and information service industry will reach RMB 13.1 trillion by 2025, demonstrating vast market potential. The digital workplace market size to grow from USD 13.4 billion in 2018 to USD 35.7 billion by 2023, at a Compound Annual Growth Rate of 21.7% during the forecast period. Beijing seeks to build on big data analytic technologies and skills to become, by 2030, the global center for AI or, as Chinese leaders call it, intelligentized decisionmaking. National defense big data undergirds Beijing's longer-term effort, articulated by President Xi in his 19th Party Congress speech, to ultimately become the global center for AI by 2030. See full forecast Last updated: 27 September 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
