Ecosystem-led growth is often mentioned as the future of the economy, and manufacturing is no exception. Driven by several business, economic, technological, and competitive reasons, manufacturers are looking for innovative business models to ensure sustainable growth and profitability. The overarching themes in our worldwide manufacturing ecosystems 2019 predictions are:
- Platform adoption
- Business orchestration
- Cross-industry collaboration
- Digital technology led collaboration
Top 10 2019 Predictions for Manufacturing Business Ecosystems
Most of our predictions refer to continuous changes and aspirations of global manufacturing players, and the predictions will guide their technology investment and priorities. To consolidate their positions in the ecosystem model of business, they can leverage these predictions to plan a cohesive and integrated strategy with specific, time-bound objectives and targeted investments. The predictions are founded on a set of chosen representative drivers that depict the existing economic environment, and it is periodically adjusted and revised to reflect changes in the geopolitical stability and business spheres.
Keeping the above in mind, our worldwide manufacturing ecosystems 2019 predictions are:
- Prediction 1: Platform adoption. By 2022, 35% of manufacturing organizations will have created new ecosystems by implementing artificial-intelligence- and blockchain-centric platforms, thus automating 50% of processes.
- Prediction 2: Industry-specific ecosystems. By 2023, 20% of discrete manufacturing ecosystem participants will lead and shape ecosystems through technology innovation and vision, resulting in polarized gains within value chains.
- Prediction 3: Products as services. By 2019, to meet mounting customer expectations for greater value, differentiate their portfolios, and strengthen customer relationships, 30% of G2000 manufacturers will offer products as a service.
- Prediction 4: Business orchestration. By 2021, 10% of G2000 manufacturers will use blockchain to ensure seamless orchestration across various tiers of the manufacturing value chain, thus decreasing process-validation costs by 50%.
- Prediction 5: Cross-industry collaboration. By 2022, driven by rising customer expectations and competition from the platform economy, 25% of manufacturers will be engaged in cross-industry collaboration, resulting in a 10% revenue increase.
- Prediction 6: IT-OT convergence. By 2020, over 25% of manufacturers will utilize edge computing to enable faster decision making across manufacturing business ecosystems.
- Prediction 7: IoT and decision process automation. By 2021, over 70% of manufacturing organizations worldwide will use IoT data collected from the wider ecosystem to enhance automation and operations and gain competitive advantage.
- Prediction 8: New-age tech. By 2024, distributed manufacturing will enable 35% of manufacturers worldwide to leverage partner and supplier networks to access 3D printing, improve customer experience, and optimize logistics cost.
- Prediction 9: Artificial intelligence (AI) and machine learning (ML). By 2020, G2000 manufacturers will have created new business models and revenue streams through the use of AI and machine learning, thus generating an additional 15% in value across ecosystem partners.
- Prediction 10: Industry cloud. Industry clouds will be used by 35% of G2000 manufacturers by 2021, with those led by IT vendors scaling faster than those led by manufacturers, due to their technology ecosystem capabilities.
Learn more about the 2019 Manufacturing Business Ecosystems Predictions
For context around these predictions, including the IT impact and guidance on how to integrate each prediction in the digital strategy of the enterprise, view the IDC FutureScape: Worldwide Manufacturing Business Ecosystems Predictions web conference on-demand.