Emergence of network economy is the newer model to scale
The digital economy refers to a broad range of economic activities that use digitized information and knowledge as key factors of production. That is transforming towards Network Economy. It includes the internet, cloud computing, big data, fintech, and other new digital technologies that are used to collect, store, analyze and share information digitally and transform social interactions. The digital economy also permeates all aspects of society, influencing the way people interact and bringing about broad sociological changes. All sectors of the economy have adopted ICT to enhance productivity, enlarge market reach, and reduce operational costs.
Changes have been seen in the customer’s demand, with the emergence of the network economy for cutting down the cost and increasing agility to accelerate the digital ecosystem. When we compare the global market Asia continues to benefit from this digital transformation the most. However, understanding the digital economy remains a challenge because of its complexity. Digital transformation is about not only big data and digital platforms but also how those advanced technologies can be utilized to maximize opportunities for innovation, new business models and processes, and smart products and services. Further, the digital economy is allowing regional businesses to move away from the local and into the global, in keeping with the long-term trends towards market liberalization and reduced trade barriers.
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Emergence of network economy is the newer model to scale
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The emergence of gaming as a global phenomenon
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Online gaming is the new fad
Once upon a time gaming meant being in physical proximity with each other and playing while talking, laughing, and giggling! We have come a long way from the time when board games such as ludo, carom, etc. were played physically. It had a human touch and involved face-to-face interaction. However, the gaming landscape has evolved over the years. In fact, it has completely upturned from what it was a year ago! The global pandemic pushed us to quarantine and practice social distancing norms. While it disrupted various industries, COVID-19 emerged as a blessing in disguise for a few sectors and the gaming market is one such segment. It expedited the growth of the sector and as a result, online gaming has been gaining prominence ever since at the global level. Owing to the coronavirus and the pandemic-induced digital revolution, online gaming is the new fad and is emerging to be a global phenomenon. With the growing smartphone penetration and easy accessibility of data at affordable pricing, gaming has taken the mobile route. Online games are now accessible anytime, anywhere surpassing all geographical barriers and differences in time zones due to mobile gaming.
The gaming sector has had remarkable growth so far, as per Modor Intelligence research, the global gaming market was valued at $173 billion in 2020. It is projected to grow at a CAGR of 9.64% and will hit the $314.40 billion mark by 2026. According to Statista, the market generated revenue of approximately $21.1 billion. These statistics depict that the market was at its prime last year and is growing exponentially. Passé are the days when the meagre mention of the word ‘gamer’ used to evoke flashes of a teenage boy locked in a dark room hooked onto his screen. With the growing market and the surge in mobile gaming, gaming is now accessible and available to all. It has turned into a global trendಇಂದ VARINDIA | 60 ವೀಕ್ಷಣೆ
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Recent developments in the technology landscape, including the acceleration of automation, artificial intelligence, and the digitization of industries, are transforming the nature of work. These challenges have immediate and far-reaching implications for India's economy, society, and future prospects.
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3:07 Online gaming firms sent tax notices worth INR 1 lakh cr
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NTPC is the largest power generating company of India that also works towards enhancing and bringing qualitative changes in the communities around its projects. One of the key focus areas by which NTPC is bringing change in nearby communities is empowering women by providing them training in various areas for self employment .
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