This work is focused on studying how enterprises adapt to dynamic changes by developing new business models and introducing innovations. New technologies, alternative business models and consumer behavior factors are driving rapid business transformation on a regional and global scale. Companies are actively applying innovation, and, as a result, both individual sectors and the entire market are changing. The study of global trends provides an understanding of changes, their characteristics, and helps to predict the directions of development of both international and local companies. The purpose of this research is to study the potential of innovative business development in the aspect of digitalization, as well as to identify the features of innovation in modern conditions. To achieve the goal, the main objectives of the study were consistently solved: the author identifies the features of innovative business development at the present stage, analyses the relationship between renovations, innovations and technological breakthroughs in the aspect of digitalization, and analyses the components of current innovation strategies were detailed, and megatrends of socio-economic development. A conclusion is drawn about the dynamic transformation of business under the influence of digitalization, innovation and consumer behavior. Digitalization is a powerful innovation factor that has already shown serious results for the economy both at the regional and global levels. The most significant effect of digitalization for business is the strengthening of existing and creation of new competitive advantages.