Traditional technology consulting services involving the Internet need to be updated. New economy expertise and the latest technology consulting service involve being agile. IT consultancy and tech consultants are becoming integral to the new economy industries. Whether it’s an OTT platform or the cab booking online platform, the new economy is booming. Moreover, adopting elements like robotics, blockchain, AI, ML, decentralization of services, cloud computing, etc., would help bring in the globalization component.
Many platforms emerged in the past that have come under the new economy companies. These industries are highly competitive, but they have pushed themselves out of the bubble of traditional competition.
The concept of Metaverse is leveraging the new economy for startups as it has become a promising business model for future businesses. This concept has radically shifted in most sectors, including fashion, marketing, retail, education, healthcare, etc.
The Metaverse concept came into existence when Facebook changed its name to Meta. The public’s attention got driven toward Metaverse with the emergence of the retail market and Meta influencers. Few top-notch brands leveraged the new economy technology and started building their stores in Metaverse. The retail brands include Nike, Adidas, Walmart, and Balenciaga. They have built new digital markets to become the next big global brands.
Businesses can now present their brands in a more immersive experience using AR, VR, and Mixed Reality. Meta will help the users build their avatars and explore the business options diversified.
The new economy business model startups that wish to excel in this domain can take the support of software product engineering company providers. They will support the new economy model using unique technology consulting methodologies. It will help them leverage the benefits of a user-centric ecosystem and market.
Source: MDPI
Statistical Analysis Report for IT and New Economy
The revenue growth of the IT and technology consulting sector will reach $65.36 billion in 2023. Experts expect to grow further at a CAGR of 5.96% between 2023 and 2027. Moreover, the USA will be the country with the growing revenue.
According to the McKinsey Global Institute, automation, innovation, and digital platforms will be changing the digital nature of work. There will be automation enabled by the use of modern technologies like AI and robotics. Moreover, the McKinsey survey also noticed the gender parity that needs to be bridged to amplify the features of the new economy. If this gender disparity is improved, global GDP will increase by $12 trillion in 2025.
(Source: Mckinsey)
Source: bea.gov
BEA has captured the impact of fast-changing technology on the economy of the USA. The digital or new economy contributed around 10.2% (USD 2.1 trillion) of US GDP in 2020.
Moreover, the World Bank has denoted that mobile technologies and services contributed USD 4.5 trillion or 5% of the world’s GDP in 2021. The digital economy is the biggest trend of the last decade. It is estimated to generate nearly 30% of corporate revenue globally.
What Technology Consulting Service can do for the New Economy Startups?
More than 50% of companies use enterprise technology consulting services to support their teams and connect with customers. Companies are looking forward to the right tech consultants to help them solve the new economic challenges of digital disruptions.
The evolving technological and economic landscape has opened new opportunities for emerging technology consulting providers.
Let us walk you through the major pointers on how technology consultants can help new economy startups.
- Build Better User Experience:
- Customers are the focal points of any business. They require products that can solve their problems. The tech consultants help you with a customer-driven approach. They will make sure that your products resonate with the present user market. With proper consultation, startups can procure high-quality items. It will further help them to deliver products to their end users using a quick service delivery option.
- Integrating New Technology:
- New economy means including modern technologies like AI, NLP, ML, Blockchain, IoT, etc. You can take innovative technology consulting services from a reputed tech consultant to enter the market. It will help your startup to stay ahead of the competition. The tech consultant will work on specific projects or systems to improve your business results.
- Providing Training to Staff:
- One of the main benefits of new economy is the use of modern technologies and platforms. However, the employees working in your organization must be accustomed to traditional working platforms. This is where technology consulting services will help to train your staff, not letting them feel overwhelmed, curate customized training modules for assistance, etc. Meanwhile, tech consultants will look after the complex work to lessen errors.
- Saves Time and Money:
- New economy-based startups are already going through the introduction of agile technologies, retaining their employees, and other budget-related things. Tech consultants can assist by providing startups with product engineering solutions and services. Moreover, startups do not have to hire in-house tech consultants. It will save time and money and allow you to focus on your core competencies.
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Hire the Best Technology Consultants!
New economy startups are the face of today. However, collaborating with the right technology consultant is important. Tntra, one of the top technology consulting firms, offers the right methodologies to implement your new economy startup. We deliver the measurable result by implementing the best industry practices. Our experts can effectively handle your new economy requirements and build custom solutions.
Contact Tntra immediately and start your journey towards achieving the success of your new venture.
