Analyzing the challenges and opportunities in developing a sustainable digital economy

Abstract

This research is designed to understand the concept of digital economy and its sustainability. These facts and concepts have gained popularity as a result of the growing concern about climate change and the advancement and acceptance of technologies. Scholars, corporate executives, and policymakers are investigating the various ways in which digital innovations may be utilized to tackle sustainability challenges. Through a rigorous literature review and bibliometric assessment, we examined a subset of 116 works cataloged in SCOPUS to assess the research on this subject from 2000 to November 2023. Our study revealed that the year 2022 featured the highest number of peer-reviewed publications, with a total of 31 publications. During our study, we have identified many potential avenues for this interconnection, such as the progress of energy sources that are renewable and sustainable technological advances, the development of technologically advanced cities and environmentally-friendly growing urbanization, and the encouragement of sustainable consumer behavior. Digital technology provides firms with chances to implement sustainable business approaches and create sustainable goods. Although the digital economy offers several benefits, it also poses some obstacles that might impede progress toward sustainability objectives. These challenges include the escalation of electronic waste, excessive energy usage and the subsequent increase in greenhouse gas emissions, technological division, employment instability, the growth of monopolies, and concerns over data privacy. In order to fully capitalize on the potential offered by the electronic economy to advance sustainability, it is imperative to tackle these challenges.