Digitally Delivered Services Market to See Incredible Growth By 2025
Digitally delivered services is an electronic way of delivering information, which includes data and content delivery across various platforms or devices such as web or mobile. These services help in quickly sending the information to the users within the less time which in turn help in improving customer response. Increasing usage of internet and associated services is increasing substantially which is leading to demand for high Quality of Service (QOS), which are efficient in terms of saving time and money. Therefore, utilization of these services by enterprises for improving customer services by digitally managing transactional information is expected to be another factor propelling growth of the market.
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Increasing usage of internet services along with adoption of new technologies are driving factors for growth of the market
Growing adoption of 3G and 4G long-term evolution (LTE) wireless networks are responsible for increasing number of internet users. Thus, growing number of internet users will proportionally increase the IP data traffic. For instance, according to Coherent Market Insights, in 2016, 96,054 PB IP data traffic was generated per month and is projected to reach 278,108 PB IP data traffic by 2021, globally. Thus the demand of digitally delivered services will grow along with the increasing adoption of advance technologies by the users. As these services improves the quality of service for the end users those who are utilizing the internet related services in their routines. Moreover, the demand of digitally delivered services also increase because it provide a secure and flexible platform for the online communication. Therefore, increase in usage of internet services will be one of the factor that help fuelling the growth of the global digitally delivered services market.
Growing e-commerce industry is expected to aid in growth of the market
Growing e-commerce industry is expected to aid in growth of the digitally delivered services market. For example, according to India Brand Equity Foundation Organization, in 2016, e-commerce industry in India, generated revenue of US$ 15 billion and is projected to reach US$ 188 billion by 2025. Digitally delivered services offers dynamic content to the users, which helps e-commerce companies to strength their footprint in the market by catering to end-users from across the globe that help in maximising sales and also improve the ROI. Therefore, digitally delivered service will provide a growth opportunity for the e-commerce companies.
Lack of Skilled Labour is Expected to Negatively Impact Market Growth
A leading factor impeding growth of the digitally delivered services market is availability of lack of skilled labour. These services require critical management and monitoring over the networks, while implementation. Therefore, digitally delivered services required the work force that have the knowledge about advanced technologies that will help them to incorporate these technologies with their business process. Hence, the lack of skilled labour will negatively impact on growth of the market.
Digitally Delivered Services Market: Regional Insights
On the basis of geography, the digitally delivered services market is segmented into North America, Europe, Asia Pacific, Latin America, Africa, and Middle East. North America held a dominant position in the global digitally delivered services market in 2017 and is expected to retain its dominance throughout the forecast period. This is due to growing number of cloud computing users, digitization of workspaces, continuous increase in broadband connections, increasing smartphone users, rising demand for remote solutions, growth in collaborative communication, favourable government initiatives to develop digital infrastructure, emergence of IoT are some of the factors that help in boosting growth of the digitally delivered services market in the region. For instance, According to Cisco, in 2016, the North America cloud traffic was 1,891EB and it is projected to reach 6,844 EB by 2021.This growth is expected to witness an increase due to growing number of cloud computing users.
Asia Pacific is projected to exhibit the highest CAGR over the forecast period. Increasing number of mobile phone users drives significant growth of the digitally delivered services market in Asia Pacific. According to data by Cisco, around 2,500 million mobile phone users were present in Asia Pacific, in 2016, and this number is projected to reach 3,000 million by 2021. Thus, digitally delivered services market in this particular region is expected to experience rapid growth. Moreover, India, China, and Japan are some of the major growth engines in the market in Asia Pacific. In India, growing e-commerce industry significantly contributes to growth of this market. According to India Brand Equity Foundation, in 2016, India e-commerce industry generated revenue of US$ 15 billion and is projected to reach US$ 64 billion by 2020. These are expected to fuel growth of the market for digitally delivered services in the region.
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Digitally delivered Services: Competitive Background
Major players operating in the global digitally delivered services market are IMImobile, Mahindra ComViva, Tech Mahindra, 6d technologies, Infosys, Happiest Minds, Spice Digital Ltd, Analysys Mason, Neudesic, and Acrus Global Ltd.
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