What is Digital Economy

Is a hyperconnected economy characterized by a growing interconnected people, organization and machines through the web and by the use means of digital technology which include: advanced manufacturing, robotics and factory automation, new sources of data from mobile and ubiquitous Internet connectivity, cloud computing, big data analytics, and artificial intelligence.

A digital business predominantly based on e-business and e-commerce aimed at e-goods/e-services production.

The paradigm shift that takes place in the economy with the broad use of developing digital technologies (Tapscott, 1996).

Is a term for all of those economic processes, transactions, interactions and activities that are based on digital technologies.

The digital economy refers to the economic activities that are driven by digital technologies, the internet, and the use of data. It encompasses a wide range of sectors and activities that rely heavily on digital technologies and connectivity. In the digital economy, businesses and individuals engage in various online activities, such as e-commerce, digital services, digital media, online advertising, cloud computing, and data analytics. It involves the production, distribution, and consumption of goods and services that are facilitated or conducted through digital platforms, networks, and devices. The digital economy has transformed traditional business models, enabling new forms of entrepreneurship, innovation, and economic growth. It has also facilitated global connectivity and expanded market opportunities beyond geographical boundaries. The digital economy has a significant impact on various aspects of society, including commerce, employment, communication, education, and governance. It presents opportunities for economic growth, productivity gains, and efficiency improvements, but also raises challenges related to data privacy, cybersecurity, digital divide, and ethical considerations.

It is an economy that uses digital technologies for range of activities.

Refers to the current transformations of economic activities because of the use of digital technologies. It is also called the “new economy.”

It means digital transactions, over portals and enabled by information and telecommunication technologies (ITC).

A system of economic, social and cultural relations based on the use of digital information and communication technologies.

The digital economy is a term that evolved in the 1990s when a focus on the impact of the Internet on the economy was emerging ( Armstrong, 2020 ). In this chapter, the term is used to capture the present-day inevitable impact of new technologies on the economy and how they have altered how goods and services are marketed and obtained.

Refers to an economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web. The digital economy is also referred to as the Internet Economy, New Economy, or Web Economy.

Is an economic activity focused on digital and electronic technologies. This includes electronic business and commerce, as well as the goods and services they produce. This definition covers all business, cultural, economic, and social operations performed on the Internet and using digital communication technologies.

Designates the new economic relationships that integrate the internet to sell and distribute goods and services.

An economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web.The digital economy is also referred to as the Internet Economy, New Economy, or Web Economy.

An economy based on access and use of the internet.

There is currently no authoritative definition of the “digital economy”. Based on existing research, the digital economy refers to an economic system that widely uses Information and Communications Technology (ICT), including infrastructure (high-speed internet access, computing power and security services), e-commerce (the business model making significant use of ICT at the front end and back end) and application of B2B, B2C and C2C transaction modes of ICT.

This is the economic situation whereby the various economic activities use ICTs to fulfil the intended objectives in pursuing national development endeavours. In short a digital economy is an economy that is based on electronic goods and services produced by an electronic business and traded through electronic means.

An economy that is based on digital computing technologies, characterized by a shift from traditional industrial manufacturing to one based on information technology.

The digital economy is the worldwide network of economic activities, commercial transactions and professional interactions that are enabled by information and communications technologies (ICT).

Accepts as its foundation the ICT developments and represents the impact that these have had on the conduct of business and commercial activities. Changes in markets and supply chains as well as increasing global competition all represent what is encapsulated within the term ‘digital economy’.

An economy in which the application of digital technologies is done extensively for better efficiency and effectiveness.

Digital economy refers to an economy that is based on digital computing technologies.

This model presents digital transformation in economic model and business practices.

The economy that is based on constant usage of digital computing technologies inter-connected through the Internet. Digital economy includes e-business (business models that were created with the advance of digital technologies, e.g., online commerce) and digitized parts of traditional businesses (e. g. online and mobile interfaces in banking).

A series of economic activities that use digital knowledge and information as key production factors, modern information networks as an important carrier, and information and communication technology as an important driving force for efficiency improvement and structural optimization. It is a new form of economic development that combines digital technology and economic activities.

Is the organization of the economic activity where the key production factor are the data in digital format, processing of the large volumes of the information and the use of the results of the analysis that enable to significantly increase the efficiency of different types of production, technologies, equipment, storage, sales, delivery of goods and services.

The new economic model born as a result of today's technological and information revolution.

The digital economy is the worldwide network of economic activities, commercial transactions and professional interactions enabled by information and communications technologies (ICT).

Refers to an economy based on ICT technologies as a means of communication and value creation.

A concrete form of economic manifestation of production and service flows dominated by digital technologies, where associated information flows are functionally dependent on ICTs

Although there is no common definition, one can think of digital economy as economic activities, commercial transactions, and communication based on or enabled by information and communications technologies (ICT).

It refers to the pervasive use of information technology (hardware, software, applications, and telecommunications) in all aspects of the economy, including internal operations of organizations (business, government, and non-profit), transactions between organizations, and transactions between individuals, acting both as consumers and citizens.

Is economic activities, based on the digital technologies related to e-business and e-commerce, produced and marketed their electronic goods and services. Payments for goods and services are often produced by electronic money.

An economic system that primarily employs digital technology, especially electronic transactions made using the internet.

An economy based on online activities related to the connections between people, businesses, digital devices, machines, data, and processes. Examples of these digital activities are online payments, ecommerce, online stock markets and other activities based on the internet of things (IoT).

An economy which operates with the help of digital technology. This involves the networking of economic activities, transactions and interactions between companies supported by Information and communication technologies.

Consequence of qualitative transformation of wide range of economic relations that are based on intensive use of information and communication technologies.

An economy that is based on digital technologies and the Internet.

The digital economy marks a historical shift in approach to businesses and potential commercial activities thanks to ICT and to new technologies (artificial intelligence, big data analytics, cloud computing, IOT, machine learning).

Economic activities that make use of ICT advancements, involving extensive activities and several players, business operations, devices, data, and electronic processes, and they are also not confined within the sovereignty of a single state.

Is a term for all of those economic processes, transactions, interactions and activities that are based on digital technologies.

This is the sector, within the economy, that studies the effects and impacts generated by the creation of value through the new technologies of communication, production, and information.

Is that part of economic output derived solely or primarily from digital technologies with a business model based on digital goods or service – consists of the digital sector plus emerging digital and platform services.

Is an economic activity in which digital data is a key factor in production, processing large volumes and using the analysis results of which, in comparison with traditional forms of management, can significantly increase the efficiency of various types of production, technologies, equipment, storage, sale, delivery of goods and services.

The use of information technology to create or adapt, market or consume goods and services.

The networking of the economic entities, by entity’s flow and process digitalization and by the creation and the exchange of digital assets (virtual assets) against the background of the physical extension and the development of Internet.

Together with technological development, the definition of a “digital economy” is constantly changing. The integration of digital technology, services, products, processes, and skills across economies is the emphasis of the modern digital economy. The adoption of information and communication technology (ICT) by all business sectors is supporting the growth of the digital economy and boosting its productivity.