Here's what the emergence of the platform economy means for business
With the emergence of the platform economy, platform companies make up over $3 trillion in firm market capitalization.
Companies like Google, Amazon, eBay, and Salesforce are generally thought of as platform giants, but there has been much global activity with rising profits in other countries around the world. Firms have began transitioning their strategies to the world of platform technology, and the ever growing economy does not seem to plateau any time soon.
There are many variables to the forces that drive the platform economy, but it boils down to three:
- We are living in the age of networks.
- We are living in the age of data
- We are living in the age of platforms
But how significant are these values that platforms offer? Why is the market capitalization so high? What strategies should be implemented for incumbent firms looking to enter the platform world?
At WePay’s Influencer’s Summit, Peter Evans, Vice President at the Center of Global Enterprise, explains his research and answers the questions we may have about this emerging platform economy: