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Global tech leaders rank e-commerce and social networking platforms as most disruptive business models in next three years, KPMG survey finds

HONG KONG, Nov. 27, 2019 /PRNewswire/ -- Nearly half of global tech leaders expect either e-commerce platforms (27 percent) or social networking platforms (22 percent) to be the most disruptive business models over the next three years, according to over 740 technology industry leaders from 12 countries who participated in KPMG's Technology Industry Innovation Survey. The finding comes as global e-commerce spending is expected to increase from USD 3.5 trillion in 2019 to USD 6.5 trillion in 2023[1], with e-commerce giants pioneering new technologies such as AI, speech recognition, drones and autonomous vehicles.Tim Zanni, Global Technology Sector Leader, KPMG International, said, "E-commerce giants are pioneering the use of new technologies and often disrupting other sectors like food delivery, healthcare, insurance, energy and prescription drugs, while social networking platforms are striving to capture an ever-larger percentage of consumer mind share and wallet with new offerings."Although tech leaders believe this disruption will be led by US companies Amazon and Apple, many believe that Chinese companies are also likely to be among the most disruptive companies in the coming years. Philip Ng, Partner and Head of Technology, KPMG China, commented, "Among the most disruptive businesses, China and US companies dominate the list. These disruptive companies tend to drive innovation in multiple sectors, which by default will be disruptive to many other companies but also result in great utility and benefits."
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