Why 2024 Will Be Known as the Inflection Point for Marketplaces and Partners: Jay McBain, Canalys

In today’s rapidly changing business landscape, companies are constantly seeking innovative ways to stay competitive and drive growth.

One significant shift that has emerged in recent years is the evolution of channel partner business models towards an ‘ecosystem’ approach.

The traditional channel partner model involved a linear relationship between manufacturers and distributors, where products were simply passed along the supply chain.

However, with the rise of digital transformation and the increasing complexity of customer demands, businesses have recognized the need for a more interconnected and collaborative approach.

The ecosystem approach to channel partner business models involves creating a network of interconnected partners, including manufacturers, distributors, resellers, and service providers. This collaborative network aims to deliver a comprehensive solution to customers by leveraging the strengths and expertise of each partner.

The shift towards an ecosystem approach in channel partner business models represents a fundamental change in how businesses collaborate and deliver value to customers. By embracing this model, companies can unlock new opportunities for growth, innovation, and customer satisfaction. However, it is essential to navigate the challenges and considerations associated with this approach to ensure long-term success.

Inflection Point: The Next Chapter of Growth

B2B marketplaces are on track to command a massive $17 trillion by 2030, according to a McKinsey & Company projection that paints a future of a marketplace-centric economy. Vendors like Crowdstrike are now breaking the $ billion threshold for sales through the AWS marketplace!

In the feature video from Partner Insight Jay McBain defines that “2024, in the history books, will be known as an inflection point. 43 years into our broader partner channel… major things are happening”.

Jay McBain is Chief Analyst, Channels, Partnerships & Ecosystems at Canalys, whose insights on partnerships are unmatched. Jay has been a pioneer in recognizing the shift towards cloud marketplaces as they become essential GTM strategies.

In his keynote, he outlined the rapid evolution of GTM caused by the new digital-first buyer and rise of marketplaces as the ultimate tech platforms, and how this transforms the role of partners:

• Marketplaces Orchestrate the 7-Layer Stack.
• Hyperscalers Vie for #Platform Dominance.
• Partners are Indispensable in a $5 Trillion Market.

In another Partner Insights video Jay discusses the future of cloud marketplaces and their impact on business growth. McBain provides insights into the current state of cloud marketplaces and how they are evolving to meet the changing needs of businesses.

McBain starts by explaining the concept of cloud marketplaces and their role in the digital transformation of businesses. He highlights the importance of cloud marketplaces as a one-stop shop for businesses to discover, procure, and manage cloud services.

• The Current State of Cloud Marketplaces – McBain discusses the current state of cloud marketplaces, emphasizing the dominance of major players like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform. He explains how these marketplaces offer a wide range of services and solutions, making it easier for businesses to find and implement the right cloud solutions for their needs.
• The Evolution of Cloud Marketplaces – McBain explores the evolution of cloud marketplaces and how they are becoming more than just a platform for buying and selling cloud services. He discusses the emergence of ecosystem-driven marketplaces, where businesses can access a variety of complementary services and solutions from different vendors within the same marketplace.
• The Impact on Business Growth – McBain highlights the impact of cloud marketplaces on business growth. He explains how these marketplaces enable businesses to accelerate their digital transformation by providing access to a wide range of innovative solutions. McBain also discusses the role of cloud marketplaces in driving collaboration and partnerships between vendors and customers.

In conclusion, McBain emphasizes the importance of cloud marketplaces in the future of business growth. He encourages businesses to leverage these marketplaces to stay competitive in the rapidly evolving digital landscape.