Digitalization

[New] North Korea will speed up its transformation into a digital economy this year, following the global trend of integrating cutting-edge information technology (IT) with various conventional industries.
[New] Three companies will account for about 70% of digital ad spending in the U.S. in 2020.
[New] 2020 will see a lot of countries focusing upon digital identities to go with their digital currencies.
[New] In the next few years, an entire quarter of worker interactions will be mediated by voice and have digital assistants.
[New] The Global Digital Twin Market is expected to grow from USD3,526.23 Millions in 2018 to USD20,875.97 Millions by the end of 2025 at a Compound Annual Growth Rate of 28.92%.
[New] The period 2020-2022 will see Tourism Ireland transform its digital platforms and redevelop its entire suite of Ireland.com websites - which attracted more than 23 million visits this year - to ensure its digital marketing continues to be best in class in 2020.
[New] The big data analytics market is set to reach $103 billion by 2023, and in 2019, the big data market is expected to grow by 20%.
[New] IDC predicts that by 2021, 9 in 10 businesses worldwide will rely on a mix of private and public clouds together with legacy platforms to meet their infrastructure needs.
[New] By 2021, over 90% of enterprises worldwide will rely on a mix of on-premises / dedicated private clouds, several public clouds, and legacy platforms to meet their infrastructure needs.
[New] In 2020, the world will experience that the public cloud market, including cloud applications (SaaS), development and data platforms, and infrastructure (IaaS) services combined, grow to US$ 299.4 billion.
While IDC is far more optimistic; it projects that revenues from big data and business analytics will surpass $210 billion at a CAGR of 11.9% in two years.
Digital ad spend is expected to account for 71% of the UK total in 2022, making it the first country in the world where digital accounts for over 70% of total ad spend.
Asia will remain at the forefront of innovation in blockchain, with China's digital currency set to be rolled out next year.
Gartner expects that through 2028, the user experience will undergo a significant shift in how users perceive the digital world as well as how they interact with it.
Digital lenders will continue to pursue product diversification strategies as companies expand market share in the coming years.
Online retail sales will top $4 trillion in the coming year, and by 2023 APAC e-commerce sales will be greater than the rest of the world combined, signaling the massive growth of digital business worldwide.
Singapore will require social media platforms to carry warnings on posts deemed false by the government and remove comments that are incompatible with the public interest.
There's been much speculation about Ant offering a full Banking-as-a-Service proposition to partners in markets outside of China and the People's Bank of China launching a digital central bank currency that could trump Libra.
Programmatic trading will account for only 30% of digital media adspend in China this year, but Zenith forecasts it to rise to 41% in 2021, when its programmatic spending will reach US$16bn.
The UK and the US are the most advanced programmatic markets in share of digital media, where respectively, 87% and 82% of digital media will trade programmatically in 2019.
The total amount spent programmatically will exceed US$100bn for the first time in 2019, reaching US$106bn by the end of the year, and will rise to US$127bn in 2020 and US$147bn in 2021, when 72% of digital media will be programmatic.
From data encryption that protects user's privacy, to 24/7 chatbots that create ease and efficiency in digital banking, artificial intelligence has been advancing the services of Australia's top banks for decades and will likely continue to play a pivotal role in the coming years.
Digital Customer Experience within the Digital Business Consulting Services Market is expected to represent approximately 24 percent of the total market in 2023 globally.

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Last updated: 26 January 2020