This IDC Market Perspective examines how SMBs benefit from the emergence of industry clouds. When SMBs band together and collaborate, they create multiplied benefits, collectively strengthening each other through digital technologies. The three main benefits gained include market access, shared data and insights, and workspace capabilities. Systems integrators and venture capital firms have both played an important role in helping to create these industry clouds and have gained significant rewards as a result.
An industry cloud is defined as a cloud-based platform through which multiple companies in an industry collaborate in some fashion toward a common goal, such as improving industry insights and/or capabilities.
"As the platform economy reshapes businesses, new large players built upon the digital economics of industry clouds will leave other large players behind. SMBs must adapt to the new economy and take advantage of the new systems of business. They will gain greater collective scale, granting them new efficiencies and enabling them to better compete in the new economy." — Zachary Rabel, senior research analyst, Cloud, SaaS, and Industry Cloud