Those of us who are following macroeconomic developments will likely be aware that these days most of the world’s growth is being driven by the digital realm. The booming global tech sector has been the main engine of growth for the world’s largest economy by a considerable margin, with similar developments taking place across every continent.
With online businesses, from e-retailers to AI platforms to cryptocurrencies taking up so much headline space this year, it can be difficult to get a clearer picture of what the next year will look like, and which sectors will show the most impressive growth. With that in mind, here are some online growth predictions for 2019.
Cryptocurrency will Slump
Few people can forget the astonishing bitcoin gold rush of 2017, which saw the value of the popular cryptocurrency skyrocket, triggering a frenzy of trading across the globe. Things have certainly died down a lot since then, and 2019 looks set to be another muted year for cryptocurrencies. Pundits are predicting that bitcoin may actually slump to below $5000, as will all other major currencies. That’s not to say it won’t pick up again later though.
Online Gaming will Explode
One digital industry which has seen unimpeded growth in the last few years is online gaming, specifically the online casino sector. It has witnessed astonishing double-digit growth every year, with the industry in the US alone set to hit $55 billion in market value next year, with no signs of slowing down after. Popular online casinos continue to lure players away from land-based casinos with a number of digital innovations; for example, live casino games, which have turned the sector into a dynamic and competitive part of the online entertainment industry. Expect online gaming to dominate the headlines in 2019.
Delivery Apps will Monopolize
While there are currently hundreds, if not thousands of delivery apps specialising in everything from food, to shopping, to services, this may change next year. Alongside the heavy hitters like Deliveroo and Uber, there are lots of smaller, specialised apps which enjoy a decent market share. This may change as the big companies continue their quest for monopoly, buying out the competition in order to capture the market completely. Stay tuned for some major acquisition announcements coming out of Silicon Valley in 2020.
Amazon will Continue to Dominate E-commerce
It would be odd to discuss tech monopolies without a reference to Amazon. The online retailing giant is now one of the world’s first trillion-dollar companies, and its CEO Jeff Bezos is the wealthiest man alive. The company’s dominance looks set to continue unabated in 2019, with competitors such as eBay and Alibaba predicted to lag behind and see their own market share fall significantly. If one thing is certain it’s that 2019 will be a great year for Bezos.
These are, of course, mere predictions, and nothing is certain. After the surprises, we have seen this year and in 2019, there may well be a number of upsets in 2020 that nobody saw coming.