Digital transformation (DX) has transformed almost every industry in the post-pandemic world. It has made the incorporation of innovative technical methods and equipment more accessible. The post-pandemic technological growth has created a launchpad for the upcoming digital revolutions that are set to disrupt businesses at a greater level. DX has also led to the evolution of the digital industry ecosystem that provides an expansive support system. It constitutes diverse and flexible resources you can use per your requirement. In their article, FutureCIO shares several business predictions that will substantiate the industry ecosystem.
How the Industry Ecosystem Can Change Businesses
The digital industry ecosystem has helped businesses collaborate with their competitors and subsidiary businesses. It allows them to share data, insights, applications, operations, and business strategies to understand consumers better.
List of Business Predictions You Should Know
Here is a list of business predictions that might change business frameworks:
- Companies sharing their data and insights to nurture the industrial ecosystem will experience a growth of 3% in their generated revenue.
- By 2024, the facilitators of industrial ecosystems will construct an environmental, social, and governance (ESG) policy for participating firms.
- 60% of industry ecosystems will establish open innovation hubs for better collaboration among companies by 2023.
- By 2025, 80% of the industry ecosystem participants will be able to leverage their own products and assets.
- By 2026, 25% of the new application portfolio will comprise consortia-developed applications.
- By 2025, 80% of the Global 2000 organizations will use distributed ledgers to affirm trust in the industrial ecosystem.
- By 2022, half of the Fortune 500 companies will monitor the shared ecosystem information via KPIs of improved operational productivity.
- By 2023, 25% of the companies will use capital from subsidiaries and other firms.
- By 2024, 50% of the federal government will actively participate in expanding the industry ecosystem.
- By 2026, 30% of companies will derive revenue from the industry ecosystem.
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