How the Platform Economy Can Benefit Connected Manufacturing

If manufacturers want to deliver services and experiences that match customer demand while containing costs, they’ll need the right digital platform to gain the edge in the platform economy.

Drive new value

The platform economy is an ecosystem of digital platforms that interact to achieve higher efficiency and value delivery. Companies such as Amazon, Uber and Airbnb continue to be disruptive as they leverage the platform economy to stay at the forefront of innovation.

But what if the same success can be replicated in the manufacturing sector?

McKinsey reports that more than 30 percent of global economic activity — amounting to US$60 trillion — could be mediated by digital platforms in 2025(1)

McKinsey & Company

Much like the world economy, interactions between multiple networks in the platform economy help create and capture value in the ecosystem. In other words, the more participants create stronger network effects across the value chain.

This creates new manufacturing opportunities, including the ability to reduce marginal costs to near zero(2).

Interact and contribute effectively

Given the number of participants in the ecosystem, manufacturers will have to aggregate big data efficiently; automotive companies, for example, collect terabytes of data daily. However, different stakeholders often utilize different systems, which further complicates data management and impedes valuable contributions to the ecosystem.

This is where the right digital platform shines — it’s able to consolidate and share data from disparate systems within the organization but also with partner companies, suppliers and original equipment manufacturers.

The right digital platform contextualizes data from disparate sources and speeds up data analysis for participants to deliver better products and services, fight off competition and grow profits.

When talking about accessing and managing big data, platform economy participants want to feel confident that their data is secure. Therefore, the right digital platform must be certified to meet stringent data security requirements such as OWASP, CSA and the NIST cybersecurity framework to safeguard the integrity of data so that organizations can focus on their businesses with peace of mind.

Choose the right digital platform

While there is a need to take part in the platform economy, less than two percent of companies have adopted effective platform strategies(3).

It all boils down to identifying the right digital platform — one that not only suits your unique business but also integrates different participants and orchestrates interactions seamlessly within a single, safe virtual space. The right digital platform must be:

  1. A system of operations that empowers businesses to design and test consumer experiences and
  2. A business model that enables multiple groups to create, exchange and capture value between them.

Both of these are defining traits of our 3DEXPERIENCE® platform.

Built to allow careful and smooth coordination between activities and powered by end-to-end digital connectivity, the 3DEXPERIENCE platform scales with your business while respecting different organizational rules and constraints while providing all participants secure access to a single source of truth.

Opportunities that result from meaningful participation in the platform economy are ripe for manufacturing; it’s time to seize them with the 3DEXPERIENCE platform.

Success in the Platform Economy With the 3DEXPERIENCE platform

Learn how manufacturers can succeed in the platform economy for efficient value co-creation and capture with the 3DEXPERIENCE platform now.

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