#ConsumerDigitalEconomy #NarayanaMurthy #JeffBezos
Consumer Digital Economy to touch $800Bn
India's digital economy is expected to touch $800 billion by 2030 making it the third-largest digital economy, said a report by consulting firm Redseer on June 30. It was pegged at $85-90 billion in 2020. Online retail is set to become the third-largest online retail market by scale by CY30 with an annual gross merchandise value (GMV) of $55 billion in CY21 and $350 billion in CY30, said RedSeer at its flagship event Ground Zero 5.0. India is going to become the 3rd largest online retail market by CY30. E-Logistics in India has become the fastest growing market globally with over 3 billion shipments in 2020. India traditionally had an inefficient supply chain with a slow and undemocratic access. With the rise of e-commerce, the need for specialised delivery services emerged, which has led to the overall growth of the logistics segment. With multiple startups enabling kiranas with cashless payments and digital bookkeeping, the segment is expected to achieve $1.5 trillion sales by 2030.
COVID-19 has caused an inflection in e-commerce penetration across smaller cities. The emergence of this sector has created 5lakh employment for gig workers in 2021 across captive and 3PL. The new-age 3PL logistics players have delivered 850 million shipments in 2020. There is a sharp rise in digital content and advertisements see higher demand. On the other hand, online content is seeing phenomenal growth leading to the overall growth of the digital ad industry as well. Digital content is emerging as the bellwether of demand creation for time spent. India, one of the largest economies, is surging ahead on content and smartphone usage. Monthly active users have become democratised with increasing adoption of varied digital services and platforms.
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2:20 #NarayanaMurthy & #JeffBezos .
#ConsumerDigitalEconomy #NarayanaMurthy #JeffBezos
Consumer Digital Economy to touch $800Bn
India's digital economy is expected to touch $800 billion by 2030 making it the third-largest digital economy, said a report by consulting firm Redseer on June 30. It was pegged at $85-90 billion in 2020. Online retail is set to become the third-largest online retail market by scale by CY30 with an annual gross merchandise value (GMV) of $55 billion in CY21 and $350 billion in CY30, said RedSeer at its flagship event Ground Zero 5.0. India is going to become the 3rd largest online retail market by CY30. E-Logistics in India has become the fastest growing market globally with over 3 billion shipments in 2020. India traditionally had an inefficient supply chain with a slow and undemocratic access. With the rise of e-commerce, the need for specialised delivery services emerged, which has led to the overall growth of the logistics segment. With multiple startups enabling kiranas with cashless payments and digital bookkeeping, the segment is expected to achieve $1.5 trillion sales by 2030.
COVID-19 has caused an inflection in e-commerce penetration across smaller cities. The emergence of this sector has created 5lakh employment for gig workers in 2021 across captive and 3PL. The new-age 3PL logistics players have delivered 850 million shipments in 2020. There is a sharp rise in digital content and advertisements see higher demand. On the other hand, online content is seeing phenomenal growth leading to the overall growth of the digital ad industry as well. Digital content is emerging as the bellwether of demand creation for time spent. India, one of the largest economies, is surging ahead on content and smartphone usage. Monthly active users have become democratised with increasing adoption of varied digital services and platforms.
Today's Headline in NewsHours
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2:20 #NarayanaMurthy & #JeffBezos
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#DigitalEconomy #WhatsApp #SupremeCourt
Digital Economy to touch $800 billion
India’s consumer digital economy which was pegged at $85-90 billion in CY 20, is expected to become a $800 billion market by 2030. The digital economy includes 60% of travel, 40% of non-grocery retail, 30% of education, 25% of food and beverages services and 6% of Pharma/Grocery going through digital channels by CY30, as per the data of RedSeer. With this growth we could forecast the next wave of entrepreneurs will create innovations which will make the Indian model successful globally. During these difficult times, most of the enterprises faced the challenge that their current levels of cybersecurity are not enough to protect their endpoints and servers.
The year 2020 has started with COVID-19 and a pell-mell shift to remote work, and finished with the gut-punch of a major breach that put hundreds of organizations into frantic access-and-remediate mode. The consequences of the pandemic’s rapid shift to work-from-home — and the exponential adoption to cloud technology that it helped drive — include lesser visibility into the security ecosystem, lesser control of access points, and a larger, more varied attack surface for adversaries to target. Over the course of the pandemic, there has been an escalating number of cyberattacks designed to exploit vulnerable remote workers and people who are desperate for information about the virus and vaccine. About 52% of Indian organizations fell victim to a successful cybersecurity attack in the last 12 months. Of these successful breaches, 71% of organizations admitted it was a serious or very serious attack, and 65 per cent said it took longer than a week to remediate.
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A report titled ‘Online Payment Fraud: Emerging Threats, Segment Analysis & Market Forecasts 2021-2025‘, conducted by Juniper Research, suggests that it’s time merchants step up their game. They must implement better fraud prevention strategies across all eCommerce channels if they do not wish to be subjected to significant chunk of losses. North America is estimated to be the worst hit as nearly 50% of the $20 billion estimated loss will occur in the region alone in 2021. Far East & China will be the second most worst hit with eCommerce fraud, followed by West Europe. Furthermore, the research identified that the use of artificial intelligence can help enable behavioural biometrics in this area, leading to increased security across all potential fraud channels.
The report highlighted that China would be the largest hub of the eCommerce fraud market in the entire world by accounting for a whopping 40% of eCom-related fraud losses in 2025, amounting to $12 billion. The research suggests that the massive e-commerce market combined with the relative lack of fraud detection measures will be the key drivers behind the situation. Juniper Research recommends that China-based eCommerce merchants start investing in fraud detection and prevention technologies from now. It will help them escape future fraud-related losses, which can further impact their already slim operating margin. All in all, it is well understood that consumers should be wary of upcoming fraud-related risks and, to prepare for the same, start becoming more vigilant when it comes to transacting online, especially on lesser-known e-commerce sites.
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India’s Low code/No code market to touch $4 billion | Digital currency | VARINDIA News Hour
Low-code is a technology that allows developers to create apps and interactive platforms without hard-coding language training. It uses visual tools and pre-built modules to help users create a UI for their apps. The current market value of the low-code industry is 13.2 billion dollars. This is also enabling users to create solutions that reflect specific data inquiries and workflow processes; their low-code/no-code-crafted programs can also easily be integrated into larger business processes. Low Code No Code (LCNC) is a suite of visual drag-and-drop tools that developers may use to create apps with a comprehensive user interface, integrations, data management, and logic. According to a survey by Nasscom, LCNC software solutions produced over $400 million in revenue for Indian IT service providers and startups in fiscal 2021. With the appropriate levers, this sector can expand to $4 billion by 2025. The global low-code/no-code market is projected to total $13.8 billion in 2021.Global markets account for over 70% of the income generated by Indian enterprises in this sector.
LCNC, together with AI-written code, will be a disruptive force in the tech business. The good news is that a lot can be done highly efficiently with little or no code, making it easy to dethrone old, established systems and try new ones. Leading tech businesses are expected to penetrate the regional markets with these solutions designed expressly for e-commerce and manufacturing in India. According to Gartner, low-code application platforms (LCAP) are expected to be the main component of the low-code development technology industry through 2022. Companies have seen better outcomes and productivity increase of over 1.5x, and the majority of enterprises have seen a 30-35 per cent gain in ROI when they employ minimal or no goodwill vs the traditional manner of development. There are several
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RS Prasad releases IT ministry's report on country’s digital economy
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वर्ल्ड वाइड नेटवर्क एक समय में लोगों की ज़िन्दगी का हिस्सा हुआ करता था लेकिन आज लोग इन्टरनेट की दुनिया का हिस्सा बन चुके हैं। इन्टरनेट विश्व भर में केवल लोगों को एक दूसरे जोड़ता ही नहीं है बल्कि आज एक इ-मार्किट का रूप ले चूका है। इ-मार्किट एक ऐसा प्लेटफार्म है जहाँ आज के समय में चाहे कोई सर्विस हो या कोई प्रोडक्ट सब कुछ ऑनलाइन मिलता है। डिजिटल इकॉनमी द्वारा दुनिया के किसी भी कोने से कुछ भी खरीदा और बेचा जा सकता है। रोहिणी के टेक्निया इंस्टिट्यूट ऑफ़ एडवांस स्टडीज में आज यह कांफ्रेंस डिजीटलाइज़ेशन टू डिजिटल इकॉनमी की चर्चा पर थी। इस कांफ्रेंस में व्यवसाय और शिक्षा से जुड़े कई वरिष्ठ लोग मौजूद थे। सबका स्वागत किया गया, और फिर सरस्वती पूजा के बाद कांफ्रेंस प्रारम्भ हुई।
डिजिटल इकॉनमी को विस्तार से समझाते हुए स्टेल्थ मोड स्टार्ट उप स्टार्टअप कंपनी के वाइस प्रेजिडेंट, अमित कुकरेती और आई.आई.एम.टी. ग्रुप ऑफ़ इंस्टिट्यूट के डायरेक्टर, के.पी. यादव ने पेपर प्रेजेंट किया।
डिजिटल इकॉनमी ने इतनी तेज़ी से मार्किट को ओवरटेक किया है की पुराने तरीकों से काम कर रहे लोगों को भी इ-बिज़नस से जुड़ने पर मजबूर कर दिया है। डिजिटल इकॉनमी यूथ को नए स्टार्टअप के लिए भी मिनिमम कैपिटल के साथ बिज़नस करने के लिए प्रोत्साहित करता है। चीफ गेस्ट एम.एन डोजा (हेड, डिपार्टमेंट ऑफ़ सी.एस.ई. जामिया मिलिया इस्लामिया ) ने भी अपने विचार रख बच्चों को प्रेरणा दी।
कुल मिलाकर यह पूरा कार्येक्रम काफी शिक्षात्मक रहा और सभी स्टूडेंट्स को न सिर्फ जॉब नहीं लेकिन डिजिटल इकॉनमी द्वारा अपना खुद का बिज़नस करने की भी प्रेरणा दी।
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The digital rupee will serve as a token. RBI has launched digital rupee to promote digital economy.
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The digital rupee will serve as a token. RBI has launched digital rupee to promote digital economy.
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