Do entire industries need to be remade?

While executives may not want to hear it, the answer is yes. Companies that continue to operate within the usual guardrails will eventually find themselves in deep trouble.

The reason? Broad but powerful forces are acting upon industries and making not just minor but radical change imperative.

Researching industry reinvention in real time

We’ve been researching industry reinvention for the past several years. We’ve looked at the big picture, the macro environment of new technologies, societal pressures, consumer demands and business ecosystems. And we’ve examined the performance, strategies and innovation approaches of thousands of companies during this period.

In 2019, we engaged in a new study, talking to more than 1,200 executives in 14 industries and 17 countries. We looked at industry reinvention through the lens of six forces bearing down on companies. This is what we discovered.

The six forces responsible for industry change

1

The always-on, hyperconnected consumer’s search for personalized products and experiences.

2

The growing imperative for higher productivity and to do more with less.

3

The challenge of digital disruption, which is blurring industry boundaries and upending markets at a rapid pace.

4

The drumbeat to “go green,” long a mantra but now increasingly a reality.

5

An evolution of business ecosystems, where established companies must work with, not against, startups, competitors and customers.

6

And the politics of economics, in which long-held views on trade and internationalism are strongly challenged resulting in new regulations.

These forces don’t exist in a vacuum; they collide in ways that increase their power and keep companies scrambling to keep up. What we’ve sought to answer through our research and analysis is how companies should respond.

How do you build for tomorrow without risking all that you do today? How do you make the right investment choices, across what may be an older but still-strong core business, alongside a new core that has lots of running room left and new businesses that are taking shape but face great uncertainty?

Champions are driving change

In several industry-focused reports, we explain how leading companies are stepping up to the challenge. These companies are in fact at the forefront of remaking their industry. We call them the Champions. Could your organization become one?

Find out by reading our reports below.

Read our insights into your industry

Connectivity, autonomous driving, the shared economy and electrification. These megatrends are disrupting the automotive industry as we know it, creating new types of demand.

Intelligent equipment and services, advanced analytics, remote monitoring, and predictive maintenance. These technology-driven trends are redefining customer demand.

Feedstock-sourcing challenges, uncertain trade and tax policies, new forms of competition and more demanding consumers. These trends are coalescing into enormous pressure.

Enterprise tech providers, semiconductor makers, and electronics manufacturers are all remaking themselves in response to customer demands for intelligent and connected products.

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