This market research report includes a detailed segmentation of the global IT spending by online service and application market by products (software, hardware and IT services) and by end-users (e-grocers, OTA, infotainment services, cab aggregators, food delivery, MOOC and others). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are IBM, HP, Microsoft, Oracle, Dell, Cisco, Salesforce, and NetSuite.
Technavio’s market research analysts estimate the global IT spending by online service and application market, to grow at a CAGR of 20% between 2016 and 2020. The advent of new technologies such as LBS has propelled the use of online services and applications. Retailers are now refocusing their business strategies to integrate online and offline medium to create a seamless, personalized omni-channel customer experience. The Americas is the largest revenue-contributing region in the online service and application market, accounting for 55% of the overall market share. A large number of SMEs in the region have come up with innovative service delivery models to cater to the daily needs of consumers.
The new market research report from Technavio provides a breakdown and analysis of the online service and application segments by technology.
“Of late, the in-app payment systems through digital wallet have become popular as they allow convenient payment modes for customers. Money is preloaded in the digital wallet, and the service charge is automatically deducted at the destination point without the need for the two-way authentication process. PayPal, Paytm, and PayU are some of the major players that provide payment service through digital wallets for online transactions,” says Amit Sharma, Lead Analyst, ICT, Technavio Research.
E-grocers lead the online services and application market, accounting for 39% of the total market share. Peapod, AmzaonFresh, Google Express, and Instacart Express are the leading e-grocers in the market. The advents of same-day delivery concept of products requires IT practices to streamline their supply and distribution chain as well as acquire and retain new customers. Moreover, online grocers such as Grofers, BigBasket, Tesco, and FreshDirect are increasingly investing in the integration of payment gateways with mobile platforms to give quick access to consumers.
Global IT spending by online services and application market by end-user 2015
Source: Technavio, 2016
The leading vendors in the global IT spending by online service and application market are IBM, HP, Microsoft, Oracle, Dell, Cisco, Salesforce, and NetSuite. Vendors are making huge investments in building secured solutions to enhance their customer base. The market is seeing a number of start-ups joining the race.
A more detailed analysis is available in the Technavio report, Global IT Spending by Online Service and Application Market 2016-2020.
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