Jio-Facebook platform approach can open digital ecosystem, market worth $2 Trillion by 2025:
Jio-Facebook’s platform approach can turn out to be a significant boon for the Indian digital ecosystem and can potentially capture a market worth $2 Trillion, i.e. 151 Lakh Crore.
The income will be seen in the form of e-commerce, payments, and content. Jio has a large customer base in India, Facebook also has the most active users in India and this collaboration will be beneficial for the tech-giants as well as the Indian Economy.
The current Covid-19 crisis can bring a significant change in Customer Behavior. There might be permanent shifts to higher digital adoption in e-commerce grocery, digital payments, and content.
Reliance Industries and Facebook are building an ecosystem (10 key sectors) each big enough to provide important and discrete services to the consumer. The core services of the platform are retail/commerce (USD 1.3 trillion), payments (USD 700 billion), content/advertising/others (USD 70 billion) with an overall potential addressable market of USD 2 trillion-plus by 2025.
Platform models like this have earlier succeeded. For example, Alibaba has captured 63% of its earnings by retail and 33% by Digital Marketing. RIL-FB will mostly succeed in their tie-up. They are the most successful companies in their field.