Amazon, Apple, Alibaba Top List of Disruptors Most Concerning to Tech Companies

Tech executives ranked the companies they worry most about disrupting their business: KPMG report

Toronto, ON (Oct. 8, 2019) – Amazon, Apple and Alibaba top the list of companies that tech industry leaders worry most about disrupting their business.

In a survey of more than 740 technology industry business leaders globally, Amazon, Apple and Alibaba were selected most often. DJI, Google, Netflix, Airbnb, Microsoft, Facebook, and Baidu round out the Top 10 list. The list of disruptors complements the fact that tech industry leaders ranked e-commerce platforms first and social networking second as the most disruptive business models over the next three years.

“The question is can the companies on this list, and those seeking to join the list, run the gauntlet of evolving competition, regulation, and geopolitics while remaining innovative and nimble enough to retain their leadership positions and aspirations,” said Tim Zanni, KPMG Global Technology Sector Leader.

Redefining tech companies

Another interesting aspect of the company disruptor list is that it illustrates how innovation has redefined what a tech company is. “Amazon, Netflix, Alibaba and Airbnb are great examples of tech-enabled companies that in the traditional sense might not have been considered to be in the tech sector, yet are absolutely associated with that sector as many define it today,” said Zanni.

“Being identified as a “tech company” grants you more cachet among investors, customers, employees and in recruiting,” Zanni said. “Though, as we have seen, scrutiny of the tech industry has increased exponentially and some companies may not aggressively embrace the ‘tech company’ label.”

E-commerce, social networking most disruptive business models

In maintaining its position atop the list of most-disruptive business models over the next few years, e-commerce continues to capture attention with its dramatic growth prospects. Global e-commerce spending is expected to increase from $3.5 trillion in 2019 to $6.5 trillion in 2023, according to eMarketer.

Social networking was second on the business models list. Similar to e-commerce companies, social media companies are striving to capture ever-larger shares of the consumer’s attention and wallet, with new offerings like exclusive and original content, live sporting events, augmented/virtual reality, educational services, and cryptocurrencies. As of January 2019, more than three billion people, over 40% of the world’s population, were using social media on mobile devices, according to a report from We Are Social and Hootsuite Media.

KPMG’s survey also asked global technology industry executives to name their favorite apps. Social media apps dominated the top portion of the list, following Google/Google Chrome, with Facebook, Instagram, YouTube, and Twitter, WhatsApp (tied) completing the Top 5.

Millennials and visionaries

KPMG’s study found some divergent views between tech industry millennials and tech industry leaders on the topic of emerging global technology innovation visionaries. Among tech business leaders, Google CEO Sundar Pichai topped the list, followed by Tesla and SpaceX CEO Elon Musk. (See the complete list here.)

While tech industry millennials cited many of the same visionaries as tech leaders, millennials also identified Huawei CEO Ren Zhengfei, Xiaomi CEO Lei Jun, and SoftBank CEO Masayoshi Son.

“Knowing who these visionaries are, their characteristics, and their leadership styles may help tech companies and other stakeholders to better understand the interests and expectations of the millennial workforce – tomorrow’s future leaders – who may have, or develop, similar interests and attributes,” Zanni said.

Access the full report

Read KPMG’s new report on Disruptive companies and business models.

About KPMG LLP

KPMG LLP is the independent U.S. member firm of KPMG International Cooperative (“KPMG International”). KPMG International’s independent member firms have 207,000 professionals in 153 countries and territories. Learn more at www.kpmg.com/us.

About KPMG

KPMG is one of the world’s leading professional services firms, providing innovative business solutions and audit, tax, and advisory services to many of the world’s largest and most prestigious organizations.

KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy.

The independent member firms of the KPMG network are affiliated with KPMG International Cooperative, a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. For more information, visit kpmg.ca.

Source: KPMG LLP

Tags: Alibaba, Amazon, Apple, disruption, KPMG, Millennials, outlook / predictions Read the original article at Insurance-Canada.ca