The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreApr 2017
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The global leader in digital technologies, Western Europe, has benefited from a robust fixed-line network and regulations that have promoted competition and investments. With economic recovery from the turmoil of the sovereign debt crisis strengthening, countries are pushing ahead with implementation of the Digital Agenda, which aims to create a single digital market in the region. Digital commerce and IoT are key growth segments, but online security and an ageing population pose challenges.
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While Western Europe is the most digitally advanced region globally, there are variations among nations in digital connectivity. Denmark is the leader helped by enabling regulations and competition. However, Greece’s economic turmoil has affected telecom investments and it remains a digital laggard.
The European Commission’s Digital Agenda is being implemented by countries in the region. The agenda aims to create a digital single market by strengthening infrastructure as well as providing high-speed internet to all households and improving digital literacy among the youth.
Digital commerce, both remote and proximity, will be the key growth segment going forward. The region’s advanced financial services sector and high smartphone penetration will fuel digital transactions. Increasing penetration of connected appliances will also enable development of the IoT landscape.
Concerns surrounding data security and theft have impeded digital transactions in countries such as Germany. An inadequate number of technical professionals can also act as an impediment for the implementation of the Digital Agenda.
Switzerland and Austria will witness the biggest improvements in the Digital Connectivity Index ranking over 2015-2020. Both countries are moving ahead with investments in IoT applications. Germany is expected to make major strides in mobile connectivity.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.