2023 marked a significant year in the evolution of digital markets regulation, largely influenced by the introduction of the EU’s Digital Markets Act (DMA). New rules are due to be introduced in the U.K., while South Africa, India, and South Korea are considering their own digital regulatory frameworks.

For the third year running, bid-rigging was the most commonly enforced type of cartel conduct (42% of decisions). The most targeted sectors included construction (U.K. and Europe), vaccine companies (Korea) and pacemakers (Brazil).

In 24 of the 31 jurisdictions we analyzed, antitrust regulators had carried out dawn raids, though corporates are increasingly pushing back. At the same time, international cooperation is on the rise – between countries and regions.