International Research Journal of Education and Technology

Digital economy consists of various components, key among which include government; policy and regulation; internet, the World Wide Web (WWW) and electricity infrasture; telecommunication industry; digital service providers; e-business and e-commerce industry;information and knowledge management systems.

The global economy is undergoing a digital transformation as well, and it's happening at breakneck speed. It's the economic activity that results from billion of online connections among people, businesses, devices, data and processes every hour. The backbone of the digital economy is hyper connectivity which means growing interconnectedness of people, organisations, and machines that results from the Internet, mobile technology and the internet of things (lot).

This Economy is worth of three trillion dollars today. This is about 30% of the S&P 500, six times the U.S.' annual trade deficit or more than the GDP of the United Kingdom. What is impressive is the fact that this entire value has been generated in the past 20 years since the introduction of the internet.

Digitization of the economy creates benefits and efficiencies as digital technologies drive innovation and fuel job opportunities and economic growth. The digital economy also permeates all aspects of society, influencing the way people interact and bringing about broad sociological changes.

It essentially covers all business, economic, social, cultural etc.

KEY WORDS: Business, Cultural, Digital, economy, e- business, World Wide Web.