An Overview of the Concepts of ‘Digital Economy’ and ‘Digital Markets’ as Ongoing Trends in EU Competition Law

Abstract

Although e-commerce is relatively new, it has been the cornerstone of international trade in the modern world. Broadly, e-commerce can be described as the process of buying, selling or exchanging any kinds of products, services and information via electronic channels. The economy is one of the areas directly affected by e-commerce, and as a result of this significant impact, the concept of the digital economy has emerged. It is complicated to define the concept of the digital economy as it continues to expand in scope day by day; however, its impact can broadly be experienced in many different fields. To set an example, the occurrence of the digital economy has already caused many significant changes in many areas, such as the examination of competition issues in the markets. It has significant effects on current EU competition law understanding, and it is evident that it will continue to form future prosperity. Therefore, this article aims to explain the general dynamics of the digital economy and digital markets as an important issue being discussed in EU competition law.