There are 18 high-growth and dynamic industries that could together generate between $29 trillion and $48 trillion in revenues by 2040, according to a McKinsey & Co report. Together these “future arenas of competition” could also generate $2 trillion to $6 trillion in profit by 2040.
Determining the 18 industries first involved identifying 12 high-growth and dynamic arenas developed since 2005 by analysing data relating to 3,000 of the world’s largest companies. The 18 2040 potential arenas were then selected from those of today that are likely to continue to develop, such as e-commerce, cloud services, and electric vehicles; “spin-off arenas” such as AI software and services (a spin-off from the software industry); and emerging arenas not closely related to existing ones, such as space, batteries, and drugs for obesity and related conditions.
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