Digital Single Europe Will Power Trade and Growth Opportunities
In Europe 75 percent of all economic impact stems from traditional industries- Transformation and modernisation of these industries are critical
Frost & Sullivan's Visionary Innovation Group
LONDON, May 19, 2016 /PRNewswire/ -- As Europe moves towards becoming the world's first digital single market, new future-oriented environmental, economic, social and political policies will unveil trade and growth opportunities. The digital single market will enable fair trade and give start-ups access to the entire European Union community. Aligning with the region's exciting digital agenda will be crucial for businesses to survive and thrive.
Frost & Sullivan's latest analysis, Future of Europe (http://frost.ly/dl), offers deep insights into the dramatic changes, challenges and opportunities Europe will face through 2025. The Future of Europe forms part of a research programme which examines the Mega Trends shaping the world, highlighting macro to micro implications on businesses and society.
For complimentary access to more information, please visit: http://frost.ly/dk.
"Europe has unveiled its detailed plans to create a digital single market by tapping into over 4 billion connected devices by 2025 to form a pan-European platform for digital businesses," said Frost & Sullivan Senior Partner Sarwant Singh. "We will soon see more ecommerce, fairer pricing, higher mobility, and wider choice for 500 million people in Europe."
To begin, the EU has set ambitious objectives regarding employment, innovation, education, social inclusion, and climate/energy that are to be reached by 2020. Further, the rising Internet economy, the Fintech revolution, technological advancements, and digital single market initiatives will catalyse changes in manufacturing and services. With these movements, the earliest commercial potential in artificial intelligence is expected to stem from Europe, giving it an edge in the cognitive capabilities race.
Over the next ten years, Europe will also lead Industry 4.0 developments, reindustrializing with smart factories and intelligent systems. The region is projected to have the second largest number of smart cities in the world and an $18 billion sharing economy that companies can leverage. Importantly, women will be principal strategists in this booming economy that is driven by new trade and data policies.
"It will be interesting to see how far the EU's growth strategy can be executed in creating the fourth industrial revolution. 75 percent of all economic impact in Europe stems from traditional industries. Modernisation of these industries is critical. Only 1.7 percent of businesses have integrated advanced digital technology into their value chain and almost half of the businesses do not use any of them. So definitely curious to see how this pans out in Europe," concludes Frost & Sullivan Visionary Innovation Group Team Leader Archana Devi Vidyasekar. "All this must be achieved without compromising the interests of its citizens with regards to privacy and environmental sustainability."
Future of Europe is part of the Visionary Innovation (Mega Trends) (http://frost.ly/dm) Growth Partnership Service programme. Frost & Sullivan's related insights include: Future of Artificial Intelligence, Mega Trends in Russia, The Global Future of Work—The Future of Workplace Technology, The Top 16 Predictions for 2016, The Global Future of Work—The Future Place and Structure of Work, Smart Cities in Asia-Pacific by 2025, Smart Cities of India, Mega Trends in Africa, New Business Models of the Future, The Future of the United States, Future of Infrastructure, The Global Future of Work—The Future Labour Force, among many others. All analyses included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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