The analyst firm issued the warning and advised chief information officers involved in building or expanding a digital business to identify and understand Asia's top disruptors as early as possible and work with their strategic planning groups to decide to “collaborate with or compete against these digital giants”.
Gartner predicts that through 2021, 80% of traditional companies will lose 10% in market share due to disruptive competition and/or the inability to disrupt themselves.
And according to Gartner research director CK Lu, CIOs and IT leaders in global enterprises are familiar with US-based digital giants Google, Facebook, Amazon and Apple, “but those in Asia are normally shrouded in regard to how they are disrupting the digital business landscape”.
"GDP growth in Asia Pacific is 1.6 times faster than the worldwide market. Adoption of technologies like mobile wallets is much higher, and you can reach 1.7 billion Internet users in these markets. As Chinese and American digital giants battle to disrupt global markets, no one can afford to sit on the sidelines."
Gartner notes that a digital disruptor champions or delivers digital disruption, but more formally defines a digital disruptor as any entity that “affects the shift of fundamental expectations and behaviors in a culture, market, industry or process that is caused by, or expressed through, digital capabilities, channels or assets".
And to determine the top digital disruptors in Asia Pacific, Gartner says its model considered three factors — scale, reach and richness — in measuring companies' impact across four major elements of disruption: technology, business, industry and society.
According to Gartner, the investment prioritisation that emerges from these perspectives can provide a clear set of directions for future innovation.
Here’s Gartner’s list of the top 10 digital disruptors in the Asia Pacific region: