A Systematic Review of Concepts and Future Directions of Platform Ecosystem Development

Research in platform ecosystem development has gained considerable attention in the last decade, building on technology and digital platforms, open, trusted, innovative engagement. Digital platforms are now considered everywhere and have become widely adopted in the business world as an economic community supported by a foundation of interacting organizations and individuals. This paper aims to identify the key concepts in the platform ecosystem development and further establish the study's future directions. This includes defining the key players and components arising when facilitators attempt to build a platform ecosystem. Hence, a systematic review was conducted to confirm current practice, identify variations in reports and further inform areas for the future research study. The study results focused on the conceptual, empirical, and practical structure of the available evidence in the literature. We understand the critical requirements before an ecosystem can emerge or evolve and provide long-term success for businesses in today's circular economy through this research.