Fast-emerging digital ecosystems—think precision agriculture, the industrial internet or smart cities—create foundations for the next big wave of enterprise disruption. Digital ecosystems like these, and the businesses that power them, are already straddling markets and blurring industry boundaries.
The threat they pose?
Unexpected new competitors seizing advantage.
Previous technology disruptions were often unpredictable. But now, enterprises have a line of sight to track growing ecosystems and anticipate their impacts. Forward-thinking leaders can get ahead of the game, develop their ecosystem strategies, and ride the results into new markets. But they must start now.
The platform economy brings threats to match the opportunities. Rapidly globalising platforms and their digital ecosystems (e.g. Uber’s taxi model, Amazon’s ecommerce suite and Philips’ hospital-to-home platform) are often too big to challenge by the time they enter Australia. Platforms also open the door for new competitors by making it easier for agile, small players, and companies from other industries, to disrupt large markets. Some of the biggest threats will come from businesses not yet classified as competitors.
In our survey, 40% of Australian executives believe their industry is experiencing Ecosystem disruption, while 46% believe industry boundaries are being erased and new paradigms are emerging across every industry - much of this is driven by the rise of platforms.