At any point of the digital transition,…
According to the survey, Israeli high-tech, which has been described for years as a sector that primarily serves other firms and large corporations, has shifted its focus; currently, 38 percent of Israeli high-tech companies are engaged in B2C activities. Consumer-oriented businesses are at question.
For years, Israeli high-tech has been characterized as a B2B or B2E market, with firms selling mostly to other enterprises and large corporations and less to end customers. There were many reasons for this, the most important of which was the concern that it would be impossible to find an organization in Israel that could offer service to an American user of the same caliber as Amazon and others.
In recent years, there has been a change, with a rise in the number of Israeli companies operating in the B2C sector, as well as the degree of their performance. According to a recent study from Facebook Israel, 38 percent of all high-tech firms in Israel are engaged in B2C activities, indicating a development that is likely to continue. The following are some of the most well-known businesses in the field:
Faber For freelancers, Leitrix, which develops image recognition applications, Joitunes, which develops guitar and piano applications, and others.
“The past year has been unlike anything we might have expected, but it has also shown the strength and creativity of Israel’s high-tech environment, especially the world of start-up companies that cater to customers,” said Adi Sofer Thani, Facebook Israel’s CEO. The area of consumer technology was also in its infancy when Facebook launched in Israel with the primary aim of helping start-ups. “Today, consumer-oriented businesses account for half of the Israeli Unicorn and the companies released.”
Facebook Israel published a survey of 38 Israeli venture capital funds as part of the study, asking them about the new fields in which they expect to invest this year. Many organizations have built an appetite for B2C regions, according to the results of the survey. With 633 firms, 58 percent of them are B2C or B2B2C companies, 62 percent of them reported that they plan to actively pursue investments in companies in the field of healthtech, which is one of Israel’s fastest growing industries. At the same time, the funds listed other consumer-oriented investment sectors, such as gaming (46 percent), ecommerce (35 percent), small business solutions (27 percent), and others.
According to Ron Tamir, co-founder of Kidan Capital, “Israel has historically been considered a platform for B2B technology.” “However, in the B2C realms, a host of leading unicorns were born in 2020. These shifted the balance sheet and demonstrated that the market is now more accessible to digital companies than it has ever been.”
Fintech is one of the hottest places where customers are seeing an influx, according to the survey. About 77 percent of adults in the United States over the age of 60 have paid bills or made money payments online, a higher percentage than any other digital service, including ecommerce. Even after the recession, 67 percent of Americans polled said they will try to handle their money online. Many Israeli firms are joining the field of fintech, which has managed to find positions where the financial behemoths do not exist except during the Corona.
The Malio group, which recently became Unicorn shortly after its establishment and enabled small business owners in the United States to collect and pay digitally after all purchases were made in checks prior to the Corona, is a clear example of this.
It also demonstrates how, as a result of shifting expectations and increased global visibility, the digital healthcare market has exploded. As a result of the Corona plague, more than two-thirds of people around the world have been more mindful of their physical and mental wellbeing, and have spent 5.4 billion hours on health and fitness applications, a 25% improvement from the previous year.
The surplus of leisure time at home has also sparked the introduction of new activities and social practices, as well as a large rise in streaming content, which has increased by 32%. Generation Z and Baby Boomers have increased smartphone use by 65 percent, and nearly half of American consumers, many of whom are new users, have engaged in some form of gaming. It also reveals that more users are focusing on self-improvement, as shown by a 135 percent increase in instructional and training app downloads.