The Subscription Economy Grows More Than 350% Over 7.5 Years
Summary
Over the past seven and one half years, the Subscription Economy® has continued to thrive, growing more than 350 percent, as consumers increasingly demand access to convenient, digital services over the ownership of physical products. In fact, IDC predicts that by 2020, 50 percent of the world’s largest enterprises will see the majority of their business depends on their ability to create digitally enhanced products, services, and experiences. On average, Zuora found that the sectors outlined in the SEI report are growing 2 to 5 times faster than their industry benchmarks. We’re now seeing sectors far and wide placing subscriptions, over pure-play products, at the center of their businesses to achieve rapid and sustained long-term growth,” said Dr. Carl Gold, Chief Data Scientist at Zuora. Zuora believes these third party reports to be reputable, but has not independently verified the underlying data sources, methodologies or assumptions.