Looking Ahead: Industry platforms for Value Creation
With each new product platform, new opportunities will be created for platform players to align with a platform and innovate on it. Success will require more than just the loose ecosystems of partners and suppliers.
We envision tightly integrated ecosystems, or "industry mashups," of companies in different industries working together to provide distinctive, significant value to customers through the creation and delivery of more- complete offerings. Expect rapid evolution of these mashups, thanks to: • The pervasiveness and exponential growth of data and the software that uses it • Increased standardization of application interfaces, integration points, and automation technologies, which reduce friction and simplify the creation of mashups Looking ahead, we expect Industry 5.0 mashups will create new and more agile offerings centered around customers' demands, likes, needs, and preferences. As more products become platforms for innovation and value creation, opportunities will open up for companies to be platform adopters and innovate on the platforms of the players. And as we've witnessed time and again, no single company can own innovation on platforms.