Digitalization

[New] Digital wallets are expected to become the most common mode of online payments by acquiring a market share of 52% by 2023.
[New] Digital advertising is expected to decline by only 3% during 2020 on an underlying basis or be flat including political advertising.
[New] Although blockchain is expected to transform the way the world uses the internet and digital services over the next 10-to - 15 years, it is still in its infancy.
[New] Virtual card use will more than triple to more than $5 trillion in transaction value by the year 2025, as the centralized digital payment method branches out beyond corporate travel into other use cases.
[New] Financial institutions are expected to offer more contactless cards in 2020 and some are also unveiling services intended to help consumers easily add cards to their digital wallets.
[New] Global Digital Payment in Healthcare Market was valued at USD 3.42 Bn in 2019 and is expected to reach at USD 16.42 Bn by 2027 at a CAGR of 21.67% over forecast period 2020-2027.
[New] UK mobile banking would overtake internet banking in 2019, and that by 2023, mobile banking would overtake internet / desktop banking as the most popular means of digital banking.
[New] Digital wallets will surpass credit cards to become the leading eCommerce payment method in North America by 2022-accounting for 33% of eCom payment volume.
[New] Google's share of the U.S. digital ad market this year is predicted to drop to 29.4%, from 31.6% last year.
[New] Expect digital advertising, narrowly defined to exclude traditional media extensions, to drop 2.4% this year following nearly a decade of double-digital growth.
[New] The global ad industry is projected to see a 10% drop in spending this year, ending nearly a decade of growth - and abruptly ending a years-long run of massive, double-digit expansion for digital advertising.
[New] The global digital publishing and content streaming market is expected to decline from $69.7 billion in 2019 to $67 billion in 2020 at a compound annual growth rate of -3.9%.
[New] The demand for Global Big Data and Data Engineering Services market is anticipated to be high for the next five years.
[New] The current situation will accelerate the digitalisation trend in the coming years and the adoption of cellular IoT modules will accelerate.
The use of digital services offered by Europe's largest banks has accelerated due to social distancing rules, according to Moody's, but the ratings agency warns that heightened adoption of digital services will require further investments in IT infrastructure and may increase cyber risk.
Podcast listening time will make up 17.0% of total time spent with digital audio in the US this year and 18.9% by the end of our forecast period in 2022.
Google's net US digital ad revenues will decline this year for the first time since eMarketer began estimating ad revenues at the world's leading digital publisher in 2008.
US digital extensions and related media, including advertising associated with traditional media owners' streaming activities, as well as Hulu, Roku, etc., will fare much better, with growth of +3.7% this year and +11.4% next year.
Even though Gartner's tech spend forecast projects an 8% contraction globally, business leader appetite will increase when it comes to the technologies that power to digital business ecosystems, automation - and location-agnostic work.
E-commerce is expected to account for 42.4% of all digital ad spend in China this year as consumers are making essential purchases online instead of in-store.
Growth rates for mobile wallets and other electronic payments in Asia will remain strong amid the emergence of new digital currencies and new forms of payments.
While all media channels will benefit from the predicted increased political spending, digital media will grow the most and hit $1 billion in political ad revenue for the first time this year.
The global Smart Infrastructure market, which includes the Digital Twin sector, is expected to thrive at a considerable CAGR between 2020 and 2025 as demand for the Smart Infrastructure has been a booming year on year, reports Market Research Explore.

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Last updated: 12 July 2020