Publication date: 13 Dec 2022
IDC FutureScape: Top 10 Predictions for the Future of Industry Ecosystems
NEEDHAM, Mass., December 13, 2022 – International Data Corporation (IDC) announced its Future of Industry Ecosystems predictions for 2023 and beyond. Organizations are looking to expand their industry ecosystems as the next phase of digital transformation, building upon the investments that they have made in recent years. They realize that opportunities, disruptions, and delivering upon customer needs quickly with a high level of quality are complex pursuits. And that having a flexible industry ecosystem of partners — an on-demand set of talent, resources, and capabilities, if you will — is an important element of the digital-first organization and necessary to support the resource-constrained organization.
Global survey data shows that CEOs and executive leadership recognize the critical supporting role that industry ecosystem partners play in ensuring the growth and stability of their businesses. Examples of shared data and insight, shared applications, and shared operations and expertise will continue to abound across every industry to facilitate innovation, ensure safety and quality, and engage more closely with customers, consumers, citizens, and patients so that needs are met quickly. The first steps have been taken by many organizations to expand their industry ecosystems, establishing a network of capability, capacity, support, expertise, and knowledge that can be scaled up and down as required.
"Extending and opening innovation, collaboration, and operation with partners across an ecosystem inside and outside any given industry has become a critical strategy for executives and their organizations. The world and each industry landscape are too complex, dynamic, and disruptive for any one organization to address on its own – the pace of innovation makes it difficult for organizations to keep up. As such, every organization needs an external source of data, insights, applications, operations, and expertise to complement and grow their business. Expansion, collaboration, and innovation with industry ecosystems has become the next phase of digital transformation for every organization," said Jeffrey Hojlo, research vice president, Future of Industry Ecosystems.
IDC's 2023 Future of Industry Ecosystems predictions guide organizations into taking the next step by incorporating partners from outside the core industry, learning best practices, and adding assets, resources, and knowledge that may not be present within their core industry.
Prediction 1: By the end of 2023, organizations that share data, applications, or operations with their ecosystem partners through joint ventures will increase profitability by 5 percentage points.
Prediction 2: By 2028, consortium-based DAOs will be the de facto standard for complex industry ecosystem ventures that involve a combination of process, application, and data sharing for new revenue growth.
Prediction 3: By 2025, 60% of intercompany shared applications available on industry clouds will be built on blockchain technology, enabling a robust Web3 foundation for industry ecosystem activities.
Prediction 4: By 2024, although 80% of global organizations will leverage on-demand resources in industry ecosystems to improve supply chain logistics, only 40% will improve profitability.
Prediction 5: By the end of 2026, 40% of G20 governments will promote the global data economy through funding of technology infrastructure, enablement of legal provision, and active participation in data spaces.
Prediction 6: By 2025, 60% of G2000 organizations will form cross-ecosystem ESG teams that are accountable for sharing of data, applications, operations, and expertise that facilitates sustainable ecosystem practices.
Prediction 7: By 2023, only 20% of metaverse experiments for industry ecosystems will succeed, as organizations continue to evolve their ability to deliver products and services in a blended physical and digital way.
Prediction 8: By 2025, 25% of organizations that do not share operations and expertise across their industry ecosystems to address talent shortages will struggle to remain viable or be acquired.
Prediction 9: By 2027, 60% of industry ecosystems will be driven by regulations for data, IP, and cloud that require standards to be collectively adopted to ensure digital sovereignty and reduce cross-border risk.
Prediction 10: By 2024, organizations that automate IT processes for data model and application development as well as sharing across their industry ecosystems will deliver products and services 30% faster.
IDC's Future of Industry Ecosystems predictions are presented in full detail in the report, IDC FutureScape: Worldwide Future of Industry Ecosystems 2023 Predictions (IDC #US49372022). Copies of this report are available to qualified members of the media.
An on-demand replay of IDC's Worldwide Future of Industry Ecosystems 2023 Predictions webcast will be available as one of more than 40 FutureScape webinars that will address the CIO Agenda, Digital Business, Artificial Intelligence, Cloud, Sustainable Strategies and Technologies, and a range of industry-specific and Future of X topics. To register for any of these webinars, please visit www.idc.com/futurescape2023.
About IDC FutureScape
IDC FutureScape reports are used to shape IT strategy and planning for the enterprise by providing a basic framework for evaluating IT initiatives in terms of their value to business strategy now and in the foreseeable future. IDC's FutureScapes are comprised of a set of decision imperatives designed to identify a range of pending issues that CIOs and senior technology professionals will confront within the typical 3-year business planning cycle. To learn more about IDC FutureScape reports for 2023, please visit: https://www.idc.com/events/futurescape.
About IDC's Future of Industry Ecosystems Research Practice
An organization's ability to generate value is directly tied to how fully leaders are willing – and able – to embrace digital-first strategies. Digital business models are undergoing transformations – from linear based value chains to integrated ecosystems that leverage shared data and insights. At the same time, changing customer requirements, and new ways of operating are emerging, fueling the need for scaled-up digital ecosystems that use software platforms.
Organizations in every industry must approach partnerships differently, creating multifaceted and strategic relationships. Complementing traditional partnerships with new partnerships that include competitors and organizations from other industries can empower ecosystems. To learn more about IDC's Future of Industry Ecosystems research practice, please visit https://www.idc.com/promo/future-of-x/industry-ecosystems
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.
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