target audience: TECH BUYER Publication date: Nov 2022 - Document type: IDC Perspective - Doc Document number: # US49791522
Defining the Future of Industry Ecosystems
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Abstract
This IDC Perspective analyzes the need and opportunity for this extended approach to industry ecosystems, one of the multiple types of ecosystems that companies will employ today to remain competitive, address disruption, and grow their business. Industries are expanding the capability, capacity, insight, and expertise of their teams through ecosystems, within and outside their industry.
"Why are industry ecosystems critical for success in the digitally transformed, disrupted world we live in today? Because the complexity of products, supply chains, digital experiences, and changing market and customer/consumer needs are too great for any one organization to address on its own. Organizations must continually morph with shifts in trends that will disrupt their industry value chains. As organizations understand these shifts, they form new, additional partnerships in industry ecosystems — within their industry or across others — that deliver value, create resiliency, foster innovation, and anticipate threats and opportunities," said Jeffrey Hojlo, research vice president, Future of Industry Ecosystems at IDC.