China leading Asia’s digital revolution
Eight Chinese companies are among the top ten firms that are disrupting life with digital technology. The other two are Japanese and South Korean. The result has ben faster economic growth. The use of smartphones in lieu of credit cards has exploded.
Beijing (AsiaNews/Caixin) – Chinese companies are leading the digital revolution in Asia, this according to Caixin Global, of the Caixin Media, a financial and business news and information media group.
Chinese companies lead Gartner, Inc.'s top ten list, which underscores the role of leading and cutting-edge high-tech firms. Their products and research are changing lifestyles.
Eight of the top ten “digital disruptors” in Asia are Chinese. China’s top three internet firms – Tencent Holdings Inc. (media and entertainment), Alibaba Group Holding Inc. (e-commerce) and Baidu Inc. (web services) – hold the top three spots in that order on Gartner, Inc.’s list.
Other companies that made the list were private smartphone maker Xiaomi Inc. and car services firm Didi Chuxing.
The only non-Chinese companies on the list are search giants Yahoo Japan Corp. and Naver Corp. of South Korea.
Gartner, Inc. defines digital disruptors as “any entity that affects the shift of fundamental expectations and behaviors in a culture, market, industry or process that is caused by, or expressed through, digital capabilities, channels or assets.”
Because of digital disruptors, GDP “growth in Asia/Pacific is 1.6 times faster than the worldwide market”.
“Adoption of technologies like mobile wallets is much higher, and you can reach 1.7 billion internet users in these markets.
One of the areas undergoing transformation is the use of smartphones instead of credit cards.
As a result of the explosive growth in the past two years, traditional firms will lose 10 per cent of their market share.