Market Saturation: The Dilemma of Major Internet Players in 2024

One of the top Wall Street’s analysis firms, Bernstein research, says that many of the internet businesses all over the world are experiencing slower growth in their business. They said that the biggest internet investors are seeing a slow period in their business because of saturation and in future, this saturation is said to keep on increasing. This analysis was made after studying top contributors in internet business that are digital advertising, e-commerce, cloud computing, ridesharing and delivery. When their growth rates were predicted for 2024, it was found that they are half of what they were in 2019. The biggest business that can get affected is digital advertising where the online penetration rate is more than 70%.

If we talk about e-commerce, its penetration rate is 20% but if it gets to 30%-40%, it will reach the migration curve. It is all because new users are adapting to new ways because of modernization. There are also some other causes why internet businesses are going down. One of the reasons is that now users are relying more on apps than the internet to order different services. Many consumers have used internet services for over 10 years so now it is time that they are starting to download apps that are convenient. Many companies like Meta and Alphabet have changed their names and mission statements which has also resulted in some saturation in the market.

Now that everyone’s businesses are at risk, they are trying to sell products that they were not selling before. For instance, Amazon has started to sell cars as well as started digital marketing to give competition to Google and Meta. Google is going against Microsoft while Meta is competing with Apple. TikTok wants its share from Amazon due to e-commerce. But now as generative AI is getting popular, everyone is chasing it to make their business grow more than the other. Even though the percentages of these businesses are getting lower, their revenue in dollars has increased a lot since the decade. But no company wants to talk about their lower growth rate. They all are happy with the amount of dollars they are getting.

Photo: Digital Information World - AIgen

Read next: What Can People Expect in Journalism, Media and Technology in 2024?

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