The reason for the new service is with the acknowledgement that as entrepreneurs, developers, startups and enterprises alike move towards collaboration in digital ecosystems there is no defined ecosystem to enable these disparate elements to come together. A digital ecosystem is an interconnected set of services that allows users to fulfil a variety of needs in one integrated experience. The concept is supposedly based on natural ecosystems, such as the aspects related to competition and collaboration between users.
The aim of the Schneider Electric Exchange is to provide the means for the next generation of innovation to take, irrespective of where they are in their digital journey. This also represents a major growth area, according to McKinsey who note that by 2025, digital ecosystems could fuel around 30 percent of global corporate revenue.
The concept of a digital ecosystem is a useful one for firms seeking to integrate their core business functionalities with third parties and their platforms. Platforms combine a variety of services and vendors on one platform, which is intended to offer a holistic experience to the user.
The purpose of the Schneider Electric Exchange initiative is to enable businesses to scale digital and IoT solutions, drawing upon a library of ready-to-use, product-specific analytics, data sets and APIs. One of those steering the project is the Schneider Electric Executive Vice President of Internet of Things, Cyril Perducat.
Commenting on the new initiative, Perducat says: “Digitization continues to revolutionize the way we work and behave. The world can no longer work in independent silos; the need for better integration and collaboration has unearthed new opportunities and solutions.”
He adds: “Schneider Electric Exchange brings together a diverse ecosystem of digital innovators and experts, enabling the co-creation of solutions and enriching learning and speed through collective intelligence. Together this digital ecosystem creates, collaborates, and scales business growth.”
The ecosystem will enable users to access to a library of resources like APIs, analytics, and data sets to improve digital offers; to leverage digital tools and expertise to scale solutions and speed up time to market; and also to collaborate through a cloud-based platform to share insights and designs as part of project management.