Definition of technology ecosystem

Technology ecosystems are product platforms defined by core components made by the platform owner and complemented by applications made by autonomous companies in the periphery.

These ecosystems offer solutions comprising a larger system of use than the original platform owner created and solve an important technical problems within in an industry. 

In successful technology ecosystems it is easy to connect to or build upon the core solution in order to expand the system of use and allow new and even unanticipated end uses. 

The core firm's product has important but limited value when used alone but substantially increases in value when used with the complementary applications.

Technology ecoystems include well known smart phone platforms, such as Apple and Android, but are also common in gaming consuls and social media platforms. They exist in industrial sectors, where core products in software, manufacturing or scientific machinery nourish an extended community of service organisations that operate as semi-autonomous value-added resellers.[1]

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