Digitization intensifies competition
Going digital comes with increased competitive pressure. The reason? Companies from the IT sector and other industries becoming direct competitors.5 May 2019 Kai Tubbesing
A recent Bitkom survey of around 600 businesses with more than 20 employees shows that going digital causes increased competition across all industries. While 65% of those questioned fear competition from IT and Internet firms, 60% feel threatened by companies from other industries who suddenly become active in the same market due to digitization. Last year, these concerns were expressed by only 57 and 53% respectively.
Early modernizers seem to be only a few steps ahead of the competition; 42% of respondents reported having been overtaken by better digitized competitors from their own industry. The companies affected respond to this with a strategic realignment: while 72% have adapted their products and services, 53% have focused on completely new developments or taken existing products and services off the market entirely (45%). Nonetheless, a majority of 91% see digitization more as an opportunity than as a threat. This is confirmed by a Capgemini survey : securing their own market position is one of the main drivers for companies starting digitization projects.
Interested in news about exhibitors, top offers and trends in the industry?
Your web browser is outdated. Update your browser for more security, speed and optimal presentation of this page.Update Browser