Tomorrow’s global market leaders
January 6, 2020
January 6, 2020
The systemic competition between China and the United States puts Germany’s top companies in a precarious situation. On one side there is a state-controlled economy that increasingly invests in digital platforms. On the other, there is a start-up industry—financed by vast amounts of private capital—that is reshaping competition on the world stage. And right in the middle, there’s Germany. Leading German companies are at risk of dramatically falling behind: They might relinquish their roles as innovation pacesetters and, instead, become component suppliers for the new global market leaders. What steps do the Top500 have to take now to avoid that scenario? Accenture has identified four actions that will enable Germany’s current global market leaders to maintain their positions in the years to come.
One-third of companies in Germany plans to increase their platform investments in 2020
How is your company's investment in digital platforms developing?
High investment costs and concerns about data protection are the biggest obstacles to using Industry 4.0
What obstacles do you see in the use of Industry 4.0 applications in your company? (in percent)
Germany far behind in e-government 2019
At the end of the 2010s, the track record of digital transformation in Germany is hardly encouraging. To date, a lot of plans have been announced, but few have been implemented. Accenture believes six building blocks can be used to jumpstart Germany’s stalled digitization initiatives and keep German companies on course for global market leadership.
Germany’s Top500 need more digital skills at C-level and more courage to pursue ambitious plans.
Companies need ambition to develop and scale bold digital projects. Hundreds of isolated projects won’t work.
Companies need to optimize their core business to open up more investments in innovation. Collaboration with other companies is key.
Cloud solutions, identity systems, digital marketplaces, and fast data networks are critical competitive factors in platform economics.
Scaling innovative business models requires ecosystems based on digital infrastructures.
Market-leading platforms that Google, Facebook and other leaders established in B2C markets provide a roadmap for Germany’s Top500 companies.
Germany’s Top500 need the courage to completely rethink their business models and find their rightful place in the platform economy.