DIGITAL ISLAMIC ECONOMY / Special report on digital Islamic consumer services

14 September, 2015 | Industry Report
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DIGITAL ISLAMIC ECONOMY / Special report on digital Islamic consumer services

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DescriptionA special focus report published as part of the State of the Global Islamic Economy 2015-126 report from Thomson Reuters.
Executive SummaryThe global digital economy (website/mobile) was worth an estimated $1.9 trillion in 2014 based on e-commerce and digital advertising spend and is estimated to grow at 15% CAGR through 2020. Muslims represent an increasingly important consumer base with Muslim consumer value to the global digital economy estimated at $107 billion in 2014 and projected to grow at 17% CAGR to $277 billion in 2020. Worldwide Muslims represent almost a quarter of the world’s population 1 and ~5.8 percent of the 2014 global digital economy. Muslim consumer’s digital needs are driven by two key areas: 1. General lifestyle needs: Met by four categories of global digital services: Information & media (Google, iTunes), Functional tools & services (Skype, PayPal), Commerce & exchange (Ebay, AirBnB) and Social & crowd networks (Facebook). 2. Islamic law and spirituality related lifestyle needs: Religious lifestyle productivity (Muslim Pro), Halal food ratings and review (Zabiha Halal) and Modest clothing (Sefamerve), among others identified in this Report.

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