The word 'ecosystem' is widely used to describe the variety of complex networks and interdependent relationships that exist in today's business and technology landscapes.

"94% of members believe ecosystems are important or very important to driving competitive advantage in today's economy"

Welcome to our third Digital Leaders Insight Series report which explores the role of innovation ecosystems in the digital economy.

The world's most successful tech companies - Apple, Google, Amazon, Facebook - support sizeable ecosystems underpinned by platform technology. The results of this new way of doing business can be astonishing.

Ecosystems, whether digitally supported or more loosely organised, maximise the potential of multiple connections and relationships to drive value and innovation. Through this report, we wanted to understand our members' perceptions and experiences of this new way of doing business.

When asked to best define the term 'innovation ecosystem', interestingly the top definition was a customer-oriented approach to innovation, with 57%. This was closely followed by collaborative network sharing capabilities and expertise at 54%, and a network of complementary digital systems at 45%.

Our Senior Research Analyst said "This research is a natural follow-on from the previous Digital Leaders Insight report which looked at the impact and implications of the emerging platform economy. We have shifted our gaze to the exciting world of ecosystems to understand better how this disruptive new way of creating value is playing out. I hope that you find this report a useful addition to your digital strategy and planning toolkit".