No wonder, the technological growth and development are greatly contributing to the markets’ evolution, both developed and emerging ones. Even if there is a big division between both, the positive changes are visible. Technology has transformed the global economy in the last decade and made it easier to transfer knowledge. And now it is giving the emerging markets a major boost and competitive advantage, allowing them to be more agile and even more innovative than developed markets.
COVID-19 intervention has also significantly reshaped the world. Technological revolution has already ruled the parade, but after the pandemic it is getting more and more intense.
Emerging markets were even more exposed as they tend to be not that prepared for the global force majeure events and have nothing stored for the future. There were many (and still are) hindrances on the way, but developing economies have managed to find a way and naturally adapted to harsh conditions.
We can witness a technological revolution going on in the emerging markets at the moment. Surprisingly enough, this global health crisis sped up companies digital adoption (if we can say so) that significantly amplified tech trends.
For instance, let’s take Brazil.Telecommunications giant Telefonica Brazil partnered with venture capital fund Redpoint ventures as a part of a global innovation strategy to be closer to startups. The idea behind is to invest in ventures that generate returns for the telco company. Priority areas include digital transformation, 5G networks, cybersecurity, cloud, artificial intelligence, blockchain and fintech.
Recovering from the recent economic disruption сan be painful and challenging, and many economies suffer, the Philippines is not the exception. At the same time this uneasy transformational period it underwent, helped to align the future strategy. At the moment there are several tech trends that shape the future of digital technology in the Philippines. Among them are: Data-centric solutions, Mainstream deployment of Internet of things (IoT) and continued dominance of Cloud technologies. According to the statistics, approximately 32% of the total IT budget will be allocated for cloud computing , which is a big deal.
Plus, cloud and mobile technologies are contributing a lot to the fast-paced advancements — they do help emerging market players to swim freely.
Let’s have a look at China, for instance. The most dramatic and major digital story is in China. Even though It is not considered to be an emerging market anymore, its astounding exponential growth never ceases to amaze.There is a heyday for eCommerce there at the moment. It significantly fueled online shopping. According to the forecast, retail eCommerce sales in China will grow by 21.0% in 2021.
At the beginning, the pandemic stirred up all the plans, but later it did trigger the shift to digital transformation that will accelerate even more in 2021.
Emerging markets are the hub for growing businesses that brings them to success with many luring perspectives.
For instance, the Brazilian startup ecosystem is driving innovation now. It has recently been ranked third after the US and China as the country with the most tech startups in the world that even reach UNICORN status which means the startups are estimated to be $1 billion or above. And that is astonishing as the figures say better. Undoubtedly, this potential and the market capacity attract more and more investors from all over the world.
It all helps us to establish the fact that emerging markets are real team-players that are confident and strong enough to build a new digital ecosystem, even being under unpleasant global circumstances.
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