CHICAGO – In 2018, 78% and 65% of households in developed and emerging markets, respectively, possessed a smartphone. Both rates are expected to exceed 90% by 2028, according to global market research firm Euromonitor International.
Euromonitor International’s new white paper, “Digital Disruptors: Leveraging Tech to Innovate,” explores disruption in the digital era across streaming services, delivery, ride-hailing, digital wallets and social media.
“Widespread connectivity, rising smartphone possession and new technologies are reshaping consumer markets,” says Michelle Evans, senior head of digital consumer at Euromonitor International. “Companies need to adopt a strategy that includes renovation, innovation as well as disruption tactics to remain competitive.”
The white paper profiles cutting-edge companies, such as Netflix, Grab and WeChat, that are pushing the boundaries of innovation. Global consumers, for example, will spend more than $108 billion on digital streaming services in 2019.
“Even leaders in a new market or category must continue to work to stay relevant and find new areas of growth,” says Evans. “The first-mover’s advantage doesn’t guarantee long-term success.”
Download Euromonitor International’s free white paper to learn from best-in-class digital disruptors and develop a strong business strategy for the tech-driven future.
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