The Emergence of Digital Economy and New Business Models in the Era of Digital Transformation

Abstract

This article has discussed that how the digital economy has emerged due to the digital transformation. On one side, the digital transformation has changed the way of living for individuals and on the other hand, digitalization has entirely changed the business processes. The digital economy has significantly impacted every country either developed or underdeveloped. There are three basic components of the digital economy and there are different business models that have become highly prevalent in the time of digital transformation. These include the internet of things, cloud computing as well as e-commerce. The overall economic impacts of these three business models are positive and these models are becoming the reason behind the economic growth at the global level.