Digital ecosystem

By: Bank of Baroda
Fri Oct 16, 2020
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A digital ecosystem is a group of interconnected information technology resources that can function as a unit. Digital ecosystems are made up of suppliers, customers, trading partners, applications, third-party data service providers and  respective technologies.

Digital ecosystems aren’t just one of the biggest innovation trends to emerge in recent years. They are quickly gaining economic might. In fact, they could generate an estimated 30% of global corporate revenue by 2025, according to McKinsey

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Digital ecosystems bring companies together across industries and technology areas by offering access to a common set of content, applications, analytics, datasets and other tools. The footprint is also a potential gold mine for artificial intelligence (AI) applications and advanced analytics tools, which can work their magic only when they are fed huge quantities of high-quality data. 

As technologies like IoT, machine learning and AI continue to proliferate in the coming years, companies must be prepared to explore new paths of innovation—not just their “digital transformation” to solve real business challenges,

According to Acumen Research and Consulting, the global SAP digital services ecosystem market size is expected to reach around US$ 90 billion by 2026 with a CAGR of 7.5 % 

Major factor driving the global SAP digital service ecosystem market are advantages offered by SAP digital services, an increased use of ERP solutions amongst small and medium-sized enterprises (SMEs) and an increase in SAP digital services in developing economies. 

In the coming years the Asia Pacific region will have an increase in market share, particularly in China, as well as rapidly growing regions of India and Southeast Asia.

Key players of digital ecosystem  are Capgemini, Tata Consultancy Services Limited, Accenture, IBM, Deloitte, DXC Technology Company, Atos SE and T-Systems International GmbH. The beauty of the ecosystem trend is the growing tendency to collaborate for the sake of mutual growth and development.

Credits : Akhil Handa

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