There are some major forces that are impacting the ongoing rise of the platform economy. One of them is talk of increased regulation. This is happening because, the digital giants have monopolized the entire ecosystem. A vast majority of global spending on digital marketing, except in China, is in control of Google and Facebook alone. Amazon meanwhile has a similar grip on e- commerce purchases. New taxes, market restrictions, compensation to users whose data has been used and data- sharing agreements have been proposed. Newer modes of technology are also impacting. There is passive potential of a further upgrade once the 5- G networks become more widespread. Even greater forms of disruption plus inversion can be seen already. A substantial proportion of the revenue is now being generated from the data being captured by the giant tech firms. Precise business intelligence is now being generated, with Twitter, Uber and Airbnb being the top beneficiaries of this. Some industries that have historically valued physical products have remained resistant to such new age domination. The list of industries includes aviation, health care, perishables and construction.

Source:https://mitsloan.mit.edu/ideas-made-to-matter/3-forces-pushing-platform-economy

Uploaded Date:14 August 2019