Social networking platforms would be the top disruptive business model for India, said a recent KPMG survey.
“These platforms have a strong influence on the people and play an important role in the disruption of innovative technologies”, said the survey based on responses provided by global industry leaders across 15 countries.
Around 20 per cent of them sees social networking platforms as a top disruptive model and e-commerce at second.
Globally, e-commerce is seen as top disruptor with 26 percent hail it as next frontier of growth. In China, the US, Japan, and UK e-commerce are predicted to be the top disruptor.
Industry leaders consider Alibaba as a top firm that can disrupt their business ahead of Google, Facebook and Amazon.
E-commerce firms are transforming at the speed of light, form fast deliveries to efficient logistics, and supply chain operation along with mobile payment services and assistants added the survey. IoT in the next three years would be lead game changer and retailers are expected to spend around 2.5 billion on it, it further said.
The KPMG further highlighted detailed trends in the information and communications technology in its report titled “New digital horizons – Connect, Create and Innovate“, which was launched at the second edition of the India Mobile Congress
In India, mobile data usage will go up five times by 2023. The total mobile subscriber base is expected to reach 1.28 billion in FY 2022 and data consumption is expected to reach 7 GB (giga bit) per subscriber per month.
The growth will further witness digital diversity in the online audience taking it from the current 225 million in FY18 to 550 million by FY23, the report said.
Country’s digital economy is likely to cross $1 trillion in the next four years.
India is fast becoming the hotbed for innovations in telecom service, equipment, and network technologies. As technologies like 5G and IoT are all set to bring an industrial revolution, building collaborative framework between regulators, Industry would be key differentiators that will make India a digital leader, said P Ramakrishna, CEO of IMC.