TECH - Apple Google And Microsoft Suffer As Small Browsers Gain Market Share After This New Law Made It Easier To Switch To Rivals | Benzinga
The European Union’s (EU) new regulations are proving to be a game-changer for independent browser companies, as they witness a surge in user numbers, challenging the dominance of tech giants Apple Inc. (NASDAQ:AAPL), Microsoft Corp. (NASDAQ:MSFT) and Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google.
What Happened: The EU’s Digital Markets Act, which came into effect on March 7, requires major tech companies to offer mobile users the option to choose from a list of available web browsers.
This legislation has resulted in a significant increase in user numbers for independent browser companies in the EU, Reuters reported.
According to data shared by six companies, the EU’s new laws have led to a spike in users for independent browser companies, such as Cyprus-based Aloha Browser, Norway’s Vivaldi, Germany’s Ecosia, and U.S.-based Brave.
These companies have seen a notable increase in user numbers, with some experiencing growth rates of up to 250%.
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