Digital Lifescapes

The Internet of Things (IoT) is transforming industries by enabling vast networks of devices to collect and share data. This data empowers businesses to optimize operations, gain deeper insights into customers, plus develop new products and services. However, a significant hurdle to IoT adoption lies in the limitations of terrestrial networks. Cellular and Wi-Fi connectivity often falter in remote locations, hindering the potential of IoT in these areas. This is where satellite IoT steps in, offering a compelling solution for connecting devices in geographically isolated or underserved regions. Satellite IoT Market Development According to the latest worldwide market study by ABI Research, the Satellite IoT market is expected to reach a value of $4 billion by 2030. This forecast growth surge is driven by: Reduced Launch Costs: The space industry is witnessing a dramatic decrease in launch costs due to advancements in reusable rockets and launcher technologies. This makes it more cost-e...

The subscription business model has been one of the big success stories of the Internet era. From Netflix to Microsoft 365, more and more companies are moving towards recurring revenue streams by having customers pay for access rather than product ownership. The subscription economy cuts across many industries -- such as streaming services, software, media, consumer products, and even transportation with the rise of mobility-as-a-service. A new market study by Juniper Research highlights the central challenge facing subscription businesses -- reducing customer churn to build a loyal subscriber installed base. Subscription Model Market Development The Juniper market study provides an in-depth analysis of the subscription business model market landscape and associated customer retention strategies. A key finding is that impending government regulations will make it easier for customers to cancel subscriptions, likely leading to increased voluntary churn rates. The study report cites the...

Virtual payment cards, also known as temporary cards, are randomly generated temporary card numbers linked to a payment account that is used to process payments in place of genuine payment details. A virtual card is an online payment tool that has similar attributes as a traditional Credit or Debit card, with key components including a 16-digit card number, an expiry date, and a CVV number. These cards are digitized versions of a physical card or a card that only exists in its virtual form and is stored in digital wallets. The distinctive feature of virtual cards is the enhanced layer of security. Virtual Card Market Development According to the latest worldwide market study by Juniper Research, by 2028 global virtual card spending will have increased by 355 percent -- that's from $3.1 trillion in 2023. The key growth driver will be the adoption of API-based virtual card issuing platforms. Juniper analysts explored the use cases where virtual cards use temporary card numbers linked...

Across the globe, government regulators are eager to contain the influence of Big Tech for a number of reasons that pose a significant threat to democracy and the security of a civil society. These include concerns about the companies' market power, their ability to stifle competition, their impact on privacy and data protection, and their role in spreading misinformation.  Regulators are also concerned about the power that Big Tech companies have over their citizens' lives, as they control the information we see and the way we interact with the online economy. Big Tech Global Market Development Over the next few years, regulators will crackdown on some of the world’s biggest tech companies -- including Amazon, Google, Meta, X (Twitter), Alibaba, and Tencent -- according to the latest worldwide market study by GlobalData. The insightful GlobalData survey findings predict that regulators will pursue the most influential Big Tech companies in 12 key regulatory arenas. Those inclu...

eCommerce is a major growth engine of the Global Networked Economy. It experienced an economic boost as a result of the COVID-19 pandemic. At the same time, the continued shift of commercial and consumer transactions has contributed to even greater upward momentum. There are several trends that are driving the growth of global eCommerce. These include the rise of social commerce, the increasing importance of mobile commerce, and the growing popularity of cross-border shopping. Global eCommerce Market Development Social commerce is enabled by the use of social media platforms to sell products and services. This trend is growing rapidly, as more people are using the channel to discover, learn about and consider new offerings. Mobile commerce is the use of mobile devices to shop for new products and services online. This trend is also growing rapidly, as more people are using their smartphones and tablets to shop for a variety of items and complete purchase transactions. Cross-border shop...

The Open Banking business model has been advantageous for Third-Party Providers (TPPs), helping them to extend their offerings into other areas of financial services with new capabilities. Open Banking is also advantageous for traditional banking institutions, despite the perceived loss of custodianship over their data, by providing greater accessibility to more bank services. Furthermore, Open Banking can help serve Mobile Internet providers that are able to leverage it to create tailored services according to customers’ preferences and/or economic limitations. Open Banking Market Development Since traditional banking services are made more convenient by TPPs via greater data access, customers can proactively manage their finances and shape the development of new financial offerings. This is particularly noticeable in the realm of Digital Payments, where retail merchants and customers transact through eCommerce, which has the greatest number of use cases for Open Banking. These includ...

The recurring subscription payments market is undergoing significant growth, primarily driven by the acceleration of consumer adoption. The market deals with periodic subscriptions to a variety of goods and services offered as an alternative payment model. While subscriptions have existed for a long time, their use in the consumer products marketplace is still evolving. Despite the usage being relatively new, the proliferation has been rapid and has spanned many different vertical markets. Recurring Payments Market Development According to the latest worldwide market study by Juniper Research, the transaction value of recurring payments will exceed $15.4 trillion globally in 2027 -- that's up from $13.2 trillion in 2023. This relatively slow growth of 17 percent reflects that recurring payments are a well-established market, but also disguises a rapid change of payment methods in the space, with Open Banking and Digital Wallet payments outstripping overall growth. As more retail me...

Broadband internet access is an essential enabler of the Global Networked Economy. National, regional, and local government economic development efforts are being supported by new telecom service provider investment in modern infrastructure. The upside growth opportunities in urban and rural areas could be significant, based on recent market research findings. 5G Cellular Services Market Development 5G Fixed Wireless Access (FWA) allows Mobile Network Operators (MNOs) to provide Quality of Service (QoS) offerings with higher speeds and unlimited data, creating a demand for 5G FWA, which will continue to grow over the next few years. According to the latest worldwide market study by ABI Research, 5G FWA subscriptions will reach 72 million by 2027, representing 35 percent of the total FWA market in 2027. Although LTE FWA services have already been widely deployed worldwide, they often cannot provide the speed needed to compete with wired broadband connections. 5G FWA is set to offer data...

A reduction in office occupancy and lease terminations, due to the growth of remote work, has had an inverse effect on consumer spending. As an example, despite the economic issues in some markets, spending on smart home devices grew in 2022. According to the latest market study by ABI Research, by the end of the year, smart home hardware revenues  -- including devices, hubs, and controllers -- will surpass $30 billion worldwide, that's up by 15 percent over 2021. Smart Home Market Development According to the ABI assessment, driving investments in the face of a sharper economic reality is a growing expectation among consumers for smart home capabilities that deliver greater value. "The COVID pandemic-induced emphasis on home improvement boosted the Smart Home industry," said Jonathan Collins, research director at ABI Research . The Work-from-Home phenomenon moved into a more mainstream awareness that continues to bolster spending as consumers look to replace or improve d...

Wireless communication services continue to evolve and serve the voice and internet access needs of people in rural or remote areas of the world. Geostationary satellites were first to market, and now other satellite systems are pervasive.  The deployment of Low Earth Orbit (LEO) satellite constellations for extending terrestrial network coverage are the current driver of new wireless services in the global telecommunications sector. According to the latest worldwide market study by ABI Research, this adoption will culminate in $141 billion worth of annual service revenues from satellites by 2030. Satellite Services Market Development "Satellite communications services have seen a new wave of enthusiasm and convergence with terrestrial networks looking to extend past their zones of coverage and bridge the digital divide," said Andrew Cavalier, industry analyst at ABI Research . Market developments have shown that satellite services like IoT, backhaul, commercial broadband, an...

Healthcare, and closely related pharmacy services, are due for disruption. Online pharmacies can deliver pharmaceuticals direct to customers, potentially changing the way they compare prices. These patients can now order their medications from registered pharmacists via the Internet. Patients can simply upload a copy of their prescriptions. Each medication request is controlled by registered pharmacists who direct them to the pharmacy warehouse in the region of the patient. Patients can access an ePharmacy through a software app, or through a website. Each ePharmacy will provide a variety of different services -- including online consultations, repeat prescriptions, lab tests, and over-the-counter (OTC) medication. Global ePharmacy Market Development According to the latest worldwide market study by Juniper Research, the number of ePharmacy users will reach 1 billion globally by 2027 -- that's increasing from 795 million in 2022, a growth of 28 percent. This increase is partly due ...

Available Internet access at an affordable cost is essential for everyone to participate in the Global Networked Economy. The deployment of fifth-generation (5G) wireless communications infrastructure is enabling the introduction of lower-cost broadband services in some markets. Fixed Wireless Access (FWA) allows mobile network operators (MNO) to deliver high-speed Internet connections in areas that have either insufficient or no prior wireline broadband access services. It's also used in urban, suburban, and rural areas where fiber optic communication is considered too expensive to install and maintain. With this new technology, MNOs have the potential to provide broadband capability at similar levels to fiber optic networks. Fixed Wireless Access Market Development Therefore, FWA can be used to supplement existing wired broadband Internet service offerings, provide additional broadband capacity, or act as a backup service for home or business applications. Although FWA is well es...

Fintech startups and traditional financial service providers have seen significant upside opportunities in the payments sector. Smartphones are already an integral channel for eCommerce and Point of Sale (POS) payment transactions. The global COVID-19 pandemic accelerated the transition to mobile phones for payments. Throughout the pandemic, mobile devices were facilitating payment transactions online and in-person -- e.g. while using the Internet to shop at retail sites, or on-premises by using a digital wallet via Near-Field Communication (NFC). Remote Mobile Payments Market Development According to the latest worldwide market study by Juniper Research , the value of biometrically authenticated remote mobile payments will reach $1.2 trillion across the globe by 2027 -- that's rising from $332 billion in 2022. These transactions use biometrics, typically facial and fingerprint recognition, to authenticate remote mobile payments. This growth of 365 percent is driven by recent regul...

Digital identity is a concept that is constantly evolving and becoming increasingly aligned with allied areas, such as security, privacy, and management of identity-related data. Within the government sector, this emerging technology has significant upside potential for growth. According to the latest worldwide market study by Juniper Research, the number of users of digital identity documents globally will exceed 6.5 billion by 2026 -- that's up from 4.2 billion in 2022. This expansion of over 50 percent has been accelerated by the global COVID-19 pandemic and reflects the growing importance of digital identity in sectors such as government services. Digital Identity Market Development According to the Juniper assessment, a digital identity document is a digital representation of a physical identity document. The new research found that ease and equality of access are critical factors for the use of digital identity in government services. Juniper analysts recommend that governmen...

Today's electronic commerce is an engine of the world’s Global Networked Economy. It experienced an uplift in 2020 and 2021 as a result of the disruption created by the COVID-19 pandemic. Meanwhile, business and consumer online transactions contributed to significantly greater growth momentum. According to a survey by The Economist, brick-and-mortar retailers have shifted rapidly to eCommerce. However, many traditional retailers are still recovering from the backlash of the ongoing pandemic. eCommerce Payment Market Development Juniper Research's latest market study has found the volume of global eCommerce transactions made via OEM Pay will exceed 30.7 billion by 2026 -- that's rising from 4.7 billion transactions in 2022. This outstanding market growth of 550 percent will be driven by rapidly increasing customer demands of frictionless retail checkout experiences across multiple eCommerce channels. Juniper's new research findings predicted that OEM Pays will benefit, ...

Fifth-generation (5G) wireless cellular technology is now being deployed by mobile network operators across the globe. Previous generations were developed with a consumer-oriented mobility focus. In contrast, 5G will enable numerous commercial use cases in the enterprise via fixed broadband access. 5G networks will also deliver high bandwidth and low latency data infrastructure for the next generation of mobile communications and developments in the Internet of Things (IoT) -- including applications like smart cities and autonomous vehicles. 5G Network Market Development According to the latest worldwide market study by Juniper Research, the total number of 5G connections will reach 3.2 billion by 2026 -- that's rising from 310 million in 2021. To maximize the potential of this significant growth in connections, Juniper predicts that mobile network operators will accelerate investment into standalone 5G networks to best position their services and manage future capacity. Standalone...

High-speed internet access from home is essential to participate in the Global Networked Economy. The worldwide residential broadband service market reached a subscriber base of over 1.1 billion users in 2020 -- that's a 4 percent increase from the previous year. Clearly, the COVID-19 pandemic accelerated demand for broadband connectivity. The need for high-capacity residential broadband will remain, even post-pandemic. According to the latest worldwide market study by ABI Research, 5G Fixed Wireless Access (FWA) will be the fastest-growing residential broadband segment to increase at a CAGR of 71 percent, exceeding 58 million subscribers in 2026. Remote working, online learning, and virtual healthcare created new demand for high-speed broadband throughout 2020. The significant increase in the use of internet-based entertainment services also prompted broadband users to upgrade, while more households without broadband access subscribed for the first time. Residential Broadband Serv...

In today's economy, broadband internet access is an essential enabler for users of online government services and active participants of commercial eCommerce applications. While people in most urban settings may have access to affordable offerings, that's typically not true for many rural residents. There's a significant need in most remote locations for high-speed internet connectivity. Demand for internet access via broadband services over both fixed and mobile networks has increased dramatically. Yet, despite telecom network expansions and upgrades, it's estimated that only half of the households worldwide currently have access to fixed broadband services. With the rollout of Low Earth Orbit (LEO) constellations, satellite broadband services could improve broadband penetration. According to the latest market study by ABI Research, the satellite broadband market will reach 3.5 million subscribers in 2021 -- growing at a CAGR of 8 percent to reach 5.2 million users in ...

More CEOs in the wholesale and retail sectors have accelerated the adoption of digital business models. As a result, it's now relatively easy for anyone to seek out the best product deals online or on their mobile devices, and purchase whatever they need via eCommerce platforms. This transition has forced many traditional wholesalers and retailers to shift their strategies and increase their digital presence and product availability, with the COVID-19 pandemic bringing the fortunes of those lagging behind into sharp focus. In particular, both traditional and online retailers are under immense pressure to offer improved shopping experiences and to meet growing consumer demand for omnichannel digital payments, while also adhering to evolving financial services sector regulatory requirements. Global eCommerce Market Development That said, the line between physical and digital commerce is becoming increasingly blurred. According to the latest worldwide market study by Juniper Research,...

The Work from Home (WFH) phenomena has fueled the need for more devices, better internet access, and secure networking technologies. Plus, the COVID-19 pandemic is now driving demand for Wi-Fi customer premise equipment (CPE) as millions of people work and learn from their homes. According to the latest global market study by ABI Research, the closely related worldwide Wi-Fi CPE market will see vendors ship more than 223 million units in 2020 -- that's a surge of 10 million units from 2019 reported growth. "Stay-at-home orders imposed in the first quarter of 2020 forced millions of consumers to work from home and students to do home-based learning, creating the need for ultra-reliable broadband and Wi-Fi connectivity in households worldwide," said Khin Sandi Lynn, an analyst at ABI Research . Wi-Fi CPE Market Development There has been a sudden spike in the adoption of Wi-Fi routers and wireless network extenders as consumers seek a reliable Wi-Fi connection that can simu...