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Insight: Era of convergence and coopetition
Since the number of mobile applications increases over time, it is becoming more and more difficult for an app to be selected as a user’s preferred app. Some of them are offering more services by trying to become super apps. Therefore, users do not need to download specific applications for the additional services they need. This is what happens in the digital space. Convergence makes boundaries between industries become not so clear anymore. #insight
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Illustration of App Store. (Shutterstock/a-image)
E
veryone can now conduct almost everything they want in just one single device. In fact, we can do almost everything we want in just one single app.
Since the number of mobile applications increases over time, it is becoming more and more difficult for an app to be selected as a user’s preferred app. Some of them are offering more services by trying to become super apps. Therefore, users do not need to download specific applications for the additional services they need.
This is what happens in the digital space. Convergence makes boundaries between industries become not so clear anymore.
I discussed this phenomenon with some of the participants when attending the World Economic Forum in Dalian, China, recently. I was invited to be one of the speakers at a panel discussion held as part of that event.
Major tech companies in China may be the first to implement the convergence. For example, if we look at Alibaba, it is not only an e-commerce application since it also provides digital payments, financing, a messaging platform and much more within its ecosystem.
WeChat is similar as it does not only provide a social network, but also payment systems, media entertainment, e-commerce and much more. You also could book a doctor appointment and find out how densely crowded a location is by using the platform.
From my point of view, it makes sense for convergence to occur in the mobile-first market. In the early 2000s, there was about one computer for every 100 people in China. Fast forward to today and the total number of mobile users in China is approaching the number of internet users.
