Development Stages and the Evolution of Competition among Digital Platforms: An Analysis Based on Techno-Economic Characteristics

Existing studies, largely following the logic of two-sided platforms and network economics, tend to conclude that competition among digital platforms will result in "winner-takes-all" outcomes. However, this paper's estimates of market shares in 12 key sectors show that monopolies have not emerged in many areas of China's platform economy. The divergence between actual operations and mainstream theory stems from the frequent neglect in existing research of techno-economic characteristics such as low switching costs, network complexity, and the general-purpose nature of technological architectures. These characteristics not only reshape the microfoundations of digital platform competition but also make it more complex and stage-dependent than competition in traditional economic forms. Accordingly, this paper develops a four-stage analytical framework—business model diffusion, rapid growth, stable maturity, and cross-boundary competition—to reveal the evolutionary logic of such modes as scale-based competition, differentiated competition, and cross-boundary competition across different stages of development, as well as their key determinants. The findings show that digital platform competition is an open process that continuously evolves under the combined influence of multiple factors, including multi-homing, network heterogeneity, and cross-boundary competition. Against the backdrop of intensifying technological competition among major powers, monopoly and competition patterns should be accurately assessed on the basis of stage-specific characteristics, and a "Chinese approach" should be developed that balances the high-quality development of the platform economy with fair-competition governance, thereby avoiding a tendency to "emphasize regulation while neglecting development" arising from the presumption of winner-takes-all outcomes.