target audience: TECH SUPPLIER Publication date: Mar 2023 - Document type: Market Perspective - Doc Document number: # US50248822
The European Union Versus Hyperscalers, Cloud Computing, Marketplaces, App Stores, and More: The Digital Markets Act
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Abstract
This IDC Market Perspective discusses the importance of the Digital Markets Act. The European Commission published its proposals for the Digital Services Act (DSA) and Digital Markets Act (DMA) in December 2020, kicking off a paradigm shift in the regulation of online platforms in the DSA and General Data Protection Regulation (GDPR), the potential impact on the global digital commerce market, and speculative predictions for the near future.
"Things are about to get very interesting for digital commerce in the European Union," says Heather Hershey, research director, Worldwide Digital Commerce at IDC. "The Digital Markets Act has far-reaching implications that could disrupt the entire internet economy as we know it. Don't be misled by the title of this bill. DMA is designed to influence digital markets by pulling back the reins on hyperscalers and large data-driven platforms outside the bloc — such as social media, search engines, marketplaces, and marketing platforms. Many gatekeeper organizations are already adjusting their strategies in the region. It will be fascinating to monitor the progress of these events as they unfold throughout 2023 and into 2024."