Table 3.

Various definitions and concepts of the digital economy.

SOURCE	DEFINITION	Definition included the Impact On:
		Economy	Social wellbeing	Government and Governance
The Digital Economy: Promise and Peril in the Age of Networked Intelligence [1].	No direct definition “rethinking of promise and peril in the age of networked intelligence.”	No	No	No
OECD 2013: The Digital Economy [26]	“The digital economy enables and executes the trade of goods and services through electronic commerce on the Internet”.	Yes	No	No
Advancing Australia as a Digital Economy: An Update to the National Digital Economy Strategy [27].	“The global network of economic and social activities that are enabled by digital technology, such as the internet and mobile networks”.	Yes	No	No
Digitalization and digitization [28].	defined as the transition of businesses through the use of digital technologies, products and services	Yes	No	No
Harnessing the Digital Economy for Developing Countries [23]	“the amalgamation of several General Purpose Technologies (GPTs) and the range of economic and social activities carried out by people over the Internet and related technologies. It encompasses the physical infrastructure that digital technologies are based on (broadband lines, routers), the devices that are used for access (computers, smartphones), the applications they power (Google, Salesforce) and the functionality they provide (IoT, data analytics, cloud computing)”.	Yes	Yes	No
Rouse 2016: Digital Economy [29]	“The digital economy is the worldwide network of economic activities enabled by information and communication technologies (ICT). It can also be defined more simply as an economy based on digital technologies”.	Yes	No	No
Phenomenon of the Digital Economy: Promises and Paradox [24]	“… the economic activity that results from billions of everyday online connections among people, businesses, devices, data, and processes. The backbone of the digital economy is hyper connectivity which means growing interconnectedness of people, organizations, and machines that results from the Internet, mobile technology and the internet of things (IoT)”.	Yes	No	No
Digital Economy Outlook 2020 [30]	OCED 2020 “The Digital Economy incorporates all economic activity reliant on, or significantly enhanced by the use of digital inputs, including digital technologies, digital infrastructure, digital services and data. It refers to all producers and consumers, including government, that are utilizing these digital inputs in their economic activities”.	YES	No	Yes