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The influence of Industrial Transformation on Firm-Level Innovation

In: Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026)

Author

Listed:
  • Zikuan Cheng

    (Huaiyin Institute of Technology)

Abstract

Industrial transformation is driven by the digital economy, sustainable development, and policy changes. This process changes how companies innovate. It affects innovation through market competition, government policies, and how resources are distributed. Companies face more competition and changing market needs. This is especially true in areas like green energy and digital services. These changes push companies to invest more in innovation. They must do this to keep their market share. At the same time, people want more digital and eco-friendly products. This encourages companies to develop new and higher-value products. A more competitive and increasing market, especially in green energy industry, digital service and high-tech innovation, leaves pressure on companies and force companies to add the innovation input. With the level-up digital service and the awareness of eco-friendly increasing, more updated requirements are generated, which inspires the native motivation of foresee innovation and encourages companies to run after high value-added products. Policy also helps companies innovate. Green finance, laws, and talent incentives make innovation easier. These policies help move resources from low-value to high-value industries. This supports broader industrial upgrading.

Suggested Citation

  • Zikuan Cheng, 2026. "The influence of Industrial Transformation on Firm-Level Innovation," Advances in Economics, Business and Management Research, in: Xiongfeng Pan & Huaping Sun & Abdul Rauf & Md Rabiul Islam & Liew Chee Yoong (ed.), Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026), pages 700-706, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6239-642-5_70
    DOI: 10.2991/978-94-6239-642-5_70
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