Bibliometric Review on Digital Economy and Industry Convergence: The Impact of Digitalization on Business Adaptation and Innovation

Authors

  • Loso Judijanto IPOSS Jakarta, Indonesia
  • Yusniar Yusniar STAI Tgk Chik Pante kulu Banda Aceh
  • Rosyid Nurrohman Universitas Mulawarman
  • Eko Sudarmanto Universitas Muhammadiyah Tangerang
  • Endang Supriatna Universitas Linggabuana PGRI Sukabumi

DOI:

https://doi.org/10.58812/wsis.v2i10.1340

Keywords:

Digital Economy, Industry Convergence, Digitalization, Business Adaptation, Bibliometric Analysis

Abstract

This study presents a bibliometric analysis of research on digital economy and industry convergence, with a focus on the impact of digitalization on business adaptation and innovation. Using data from key databases, including Scopus and Web of Science, and visualized through VOSviewer, the analysis reveals key themes, influential authors, and evolving research trends from 2000 to 2024. The findings highlight that "digitalisation" remains central to the discourse, particularly in relation to manufacturing, automation, and business process digitisation. Recent research shows a growing focus on sustainability and the role of digitalization in addressing environmental challenges. Additionally, the impact of COVID-19 has accelerated the adoption of digital strategies, with businesses increasingly focusing on flexibility, risk management, and business resilience. The analysis of author collaboration networks identifies prominent contributors and interdisciplinary efforts in this field. This study underscores the importance of digital innovation for business growth and calls for further exploration of how digital technologies can enhance sustainability and resilience in a post-pandemic world.

References

H. E. Adama and C. D. Okeke, “Digital transformation as a catalyst for business model innovation: A critical review of impact and implementation strategies,” Magna Sci. Adv. Res. Rev., vol. 10, no. 02, pp. 256–264, 2024.

K. A. Semyachkov, “Digital economy in developing countries: problems and prospects,” in 1st International Scientific Conference" Modern Management Trends and the Digital Economy: from Regional Development to Global Economic Growth"(MTDE 2019), Atlantis Press, 2019, pp. 102–106.

S. U. Bhavana, “Digital Transformation—Embracing Digital Change,” Best Pract. Res. Innov. Steam High. Educ., pp. 25–160, 2023.

L. Zaborskyi, D. Shaposhnikov, and L. Belakovskiy, “Digital economy and its role in shaping the innovative business environment,” 2024.

X. Jin and K. Lyu, “The impact of digital economy on emerging employment trends: Insights from the China Family Panel Survey (CFPS),” Financ. Res. Lett., vol. 64, p. 105418, 2024.

O. S. Joel, A. T. Oyewole, O. G. Odunaiya, and O. T. Soyombo, “The impact of digital transformation on business development strategies: Trends, challenges, and opportunities analyzed,” World J. Adv. Res. Rev., vol. 21, no. 3, pp. 617–624, 2024.

O. Al-Kasasbeh, “The Transformation of the Economy: Exploring the Impacts and Opportunities of the Digital Economy,” Organ. J. Econ. Manag. Financ., vol. 3, no. 1, pp. 10–17, 2024.

B. Devi, “Conceptualizing Digital Economy: Unraveling Its Evolution and Impact in India”.

J. Paul et al., “Digital transformation: A multidisciplinary perspective and future research agenda,” Int. J. Consum. Stud., vol. 48, no. 2, p. e13015, 2024.

A. Ojala, N. Evers, and C. M. P. Sousa, “Digitalisation, digital services and companies’ internationalisation: A literature review,” Sustain. Int. Bus. Model. a Digit. Transform. world, pp. 3–17, 2022.

S. Syamsuddin, S. Marsudi, B. Hasanuddin, A. Umar, and D. Suprayitno, “Adapting to Digital Transformation: Challenges and Strategies for Traditional Businesses,” Glob. Int. J. Innov. Res., vol. 2, no. 3, pp. 704–711, 2024.

S. Sacha et al., “Business Model Evolution: From Traditional to Digital Transformation,” J. Multidisiplin Madani, vol. 4, no. 7, pp. 1017–1029, 2024.

T. O. Sanyaolu, A. G. Adeleke, C. P. Efunniyi, C. F. Azubuko, and O. S. Osundare, “Exploring fintech innovations and their potential to transform the future of financial services and banking,” Int. J. Sch. Res. Sci. Technol., vol. 5, no. 01, pp. 54–73, 2024.

G. P. Gusti, “Transformasi Industri Keuangan Dan Perdagangan Melalui Fintech Dan E-Commerce: Studi Analisis Dampak Dan Tantangan,” J. Ekon. STIEP, vol. 9, no. 1, pp. 64–74, 2024.

S. Kumar, W. M. Lim, N. Pandey, and J. Christopher Westland, “20 years of electronic commerce research,” Electron. Commer. Res., vol. 21, pp. 1–40, 2021.

M. E. Porter and J. E. Heppelmann, “How smart, connected products are transforming competition,” Harv. Bus. Rev., vol. 92, no. 11, pp. 64–88, 2014.

P. Brown, M. Souto-Otero, and S. Sadik, “Digital transformation and the future of work,” Digit. Soc., p. 559, 2022.

C. Zhao, C. Zhong, C. Liu, and P. Xing, “How the digital economy is empowering green strategies for breaking carbon lock-in,” J. Environ. Manage., vol. 365, p. 121670, 2024.

N. J. Van Eck and L. Waltman, “Visualizing bibliometric networks,” in Measuring scholarly impact: Methods and practice, Springer, 2014, pp. 285–320.

K. Schwab, The fourth industrial revolution. Crown Currency, 2017.

H. Lasi, P. Fettke, H.-G. Kemper, T. Feld, and M. Hoffmann, “Industry 4.0,” Bus. Inf. Syst. Eng., vol. 6, pp. 239–242, 2014.

A. Bharadwaj, O. A. El Sawy, P. A. Pavlou, and N. v Venkatraman, “Digital business strategy: toward a next generation of insights,” MIS Q., pp. 471–482, 2013.

V. Sambamurthy, A. Bharadwaj, and V. Grover, “Shaping agility through digital options: Reconceptualizing the role of information technology in contemporary firms,” MIS Q., pp. 237–263, 2003.

P. C. Verhoef et al., “Digital transformation: A multidisciplinary reflection and research agenda,” J. Bus. Res., vol. 122, pp. 889–901, 2021.

Y. Lu, “Industry 4.0: A survey on technologies, applications and open research issues,” J. Ind. Inf. Integr., vol. 6, pp. 1–10, 2017.

G. Zervas, D. Proserpio, and J. W. Byers, “The rise of the sharing economy: Estimating the impact of Airbnb on the hotel industry,” J. Mark. Res., vol. 54, no. 5, pp. 687–705, 2017.

D. J. Teece, “Business models and dynamic capabilities,” Long Range Plann., vol. 51, no. 1, pp. 40–49, 2018.

A. Sundararajan, The sharing economy: The end of employment and the rise of crowd-based capitalism. MIT press, 2017.

E. Turban, D. Leidner, E. McLean, and J. Wetherbe, INFORMATION TECHNOLOGY FOR MANAGEMENT, (With CD). John Wiley & Sons, 2008.

M. E. Porter and J. E. Heppelmann, “Why every organization needs an augmented reality strategy,” HBR’S 10 MUST, vol. 85, pp. 2–18, 2017.

Downloads

Published

2024-10-30

How to Cite

Judijanto, L., Yusniar, Y., Nurrohman, R., Sudarmanto, E., & Supriatna, E. (2024). Bibliometric Review on Digital Economy and Industry Convergence: The Impact of Digitalization on Business Adaptation and Innovation. West Science Interdisciplinary Studies, 2(10), 1963–1974. https://doi.org/10.58812/wsis.v2i10.1340

Issue

Vol. 2 No. 10 (2024): West Science Interdisciplinary Studies

Section

Articles

License

Copyright (c) 2024 Loso Judijanto, Yusniar Yusniar, Rosyid Nurrohman, Eko Sudarmanto, Endang Supriatna

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.