Over the past three years, the emergence of the Industrial Internet of Things (IIoT) has led to an outpouring of technological cooperation, as more than 350 firms have joined various consortia to hammer out standards around open digital platforms. Yet this leaves industrial companies in an uncertain competitive position in terms of creating and capturing value for themselves.
With the industrial internet accounting for nearly $800 billion in commerce last year and growing to a multi-trillion dollar opportunity over the next decade, companies don’t just need to cooperate: they need to focus on forging a digital platform strategy that generates growth.
