Schneider Electric has commissioned IDC to develop an IDC InfoBrief on ‘The Future of Partner Ecosystems’.
The IDC research reveals that 64% of partners are co-creating with their customers and partners (a 38% increase in 2018).
Rohan Kelkar, Executive Vice President, Power Products Division, Schneider Electric said “This report reveals that increased digitalization of our economy can present both challenges and opportunities for global organizations, with partnerships becoming the cornerstone of innovation for sustainability and energy efficiency. We are seeing that intelligent power infrastructure, in particular, can make a significant difference to businesses’ bottom line while improving emissions and resilience. By investing in IoT solutions and smart digital infrastructure, companies across the globe can make themselves more resilient and ready for the all-electric world, no matter what the future brings. They can also co-create, partner and innovate by leveraging today’s digital marketplaces, such as Exchange.”
Stuart Wilson, Research Director, European Partnering Ecosystems, IDC said, “IDC is predicting $6.8 trillion of direct investments in digital transformation from 2020 to 2023. With 65% of GDP predicted to be digitized by 2022, partners can move faster and stay ahead of the curve by co-innovating and developing cutting-edge solutions fit for the new digital and electric future. Harnessing combined skill sets requires a new mindset and a new approach from partners based on collaboration, cooperation, and a genuine desire to work together to improve customer experiences and business outcomes. These are the attributes that future-proofed partners will focus on, coupling this with a longer-term and increasingly services-focused relationship with customers.”
The vast majority (96%) of companies are either currently or considering co-creating with vendors to develop new digital products and services.
There has also been a dramatic shift in marketplace participation with almost three-quarters of partners (71%) selling via a marketplace in 2020 in comparison to just 4% in 2018.
As the world rapidly digitizes and becomes more complex, the challenges of sustainability, climate change and the energy transition are too big to tackle for anyone business alone.
Organizations are increasingly looking to combine forces to innovate and co-create, as the market moves to open, interoperable, digital and simplified systems and ways of doing business.