According to a survey by Staufen Digital Neonex of 450 industrial companies, 27% of those surveyed fear attacks on their firm’s business model by competitors who are strong in innovation and digitization; in 2016 the figure was only 16%. Only a small proportion see the cause of the threat in companies outside their industry, however: 70% expect a breach of this sort to come from a known competitor in the company’s own area of production. This corresponding figure was just 59% in 2016.
German industry’s view of itself gives cause for concern: only one in five companies considers itself capable of developing a disruptive digitization approach. However, a study by McKinsey reveals that companies are already taking precautions, despite their concerns: six out of ten firms are pursuing their own conversion program and a third are attempting to deal with the change by founding innovative startups.