Digital Markets
Digital markets are markets where businesses develop and apply new technologies for the benefit of other businesses and consumers, or create brand new products and services using digital capabilities, connecting groups of users in new and innovative ways. This includes services such as social media, mobile applications and online shopping.1 Businesses operating in digital markets make a very significant contribution to the UK economy.2 However, it is the Government’s view that the unprecedented market power, in relation to certain digital activities, of a small number of businesses, is holding back innovation and growth. Existing competition and consumer laws are not designed to address the unique barriers to competition in digital markets. In response, this Act establishes a new regime that is designed to boost competition in digital markets.