Transformation of the Information Services Market in the Context of Digital Economy

• Main Author: Kondratenko Natalia D.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2021-01-01
• Series: Bìznes Inform
• Subjects: information services market; transformation; information technology; digitalization
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2021-1_0-pages-112_118.pdf

The article is aimed at determining the features of transformation of the information services market in the context of digital economy. The main segments of the information market are allocated as follows: 1) business information (exchange and financial information; economic and statistical information; commercial information); 2) professional information (occupational information for specific professional groups; scientific and technical information; access to primary sources, which is organized through libraries and other archival services); 3) consumer information (literature, music, news; information on the operation of infrastructure facilities; entertainment information); 4) educational services (preschool, school, special, higher, dual, advanced training, informal); 5) provision systems (computers, telecommunication equipment, computer programming, consulting and providing information services on various aspects of the information industry). Based on the analysis of the transformation of the information services market in the digital economy, a conclusion was drawn about the controversial impact of information technologies (artificial intelligence, BigData, blockchain, etc.) on the institutional structure of the information services market. On the one hand, the institutional structure becomes more complicated and business profitability increases, but on the other hand, monopolization takes place and the manipulativeness of the information market increases as well, which causes a potentially unstable environment with a high level of uncertainty and transaction costs. It is noted that the mass proliferation of transactional external effects influences the state of the market’s information security and creates institutional provision of the neutralization of the negative impact of new digital technologies. Increasing the competitiveness of information services is ensured by combining low costs of providing the personalized services, easy scalability of business as a result of direct interaction between producers and consumers in the process of collecting and analyzing unstructured and unsystematic information.