Sunday, 17 January 2016 19:25

Platform companies grow to a US4.3 trillion industry

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Worldwide platform companies have a market value of over US$4.3 trillion and employ millions directly and indirectly, according to a newly published survey from non-profit research group The Center for Global Enterprise (CGE).

The research identified 176 platform companies worldwide with a market valuation of US$1 billion or more, with some platform companies - such as Amazon, Alibaba or Uber -  have become household names, but CGE say there are many others that are less known.

"The ability of platforms to better utilise houses, cars, workspaces among other assets has spawned considerable interest and passion around the potential of the so-called 'share economy,'" said Peter C. Evans , VP of the Center for Global Enterprise and project leader of CGE's Emerging Platform Economy.

"They are reshaping the contours of competition, innovation, and even global trade."

According to CGE, the location and value of platform companies vary substantially across the world - Asia now has the largest number of leading platforms with 82, exceeding those in North America.

And, top hubs for platform formation and operations include San Francisco Bay Area, Beijing, London and New Delhi.

"Growing platform competition explains the 'platform anxiety' that is being exhibited in Europe, which lags behind North America and Asia in platform formation and value capture," said Annabelle Gawker, Professor of the Digital Economy at the University of Surrey.

"While platforms make important contributions to the economy, it is also critical to understand their implications. A platform like Uber has expanded to 67 countries in seven years. It took IBM 50 years to get there," said Sam Parmitano, Founder and Chairman of the CGE and former CEO and Chairman of IBM.

To access the Platform Global Survey click here.

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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