A range of 18 industries, from AI to nuclear fission to biotechnology, could reshape the global economy by 2040, because of their high growth and dynamism, senior partner Chris Bradley and coauthors find. These potential “arenas of tomorrow” could transform how we consume and process data, approach health and wellness, and communicate with each other. These industries may generate $29 trillion to $48 trillion in revenue, with profits ranging from $2 trillion to $6 trillion.
Image description:
A table lists the 18 potential arenas of tomorrow identified by the McKinsey Global Institute: e-commerce, AI software and services, cloud services, electric vehicles, digital advertisements, semiconductors, shared autonomous vehicles, space, cybersecurity, batteries, modular construction, streaming video, video games, robotics, industrial and consumer biotech, future air mobility, drugs for obesity and related conditions, and nuclear fission power plants.
Proportionally sized circles represent each arena’s estimated revenue and profit in 2040. E-commerce has the largest circles, with revenue reaching up to $20 trillion and profit of up to $1 trillion. Other arenas range from $65.0 billion to $4.6 trillion in revenue and $5.0 billion to $920.0 billion in profit.
Note: Profit estimate is defined as net operating profit less adjusted taxes (NOPLAT). NOPLAT share is based on most closely mappable industries from our database of 3,000 companies.
Source: Company annual reports; McKinsey Value Intelligence; McKinsey Global Institute analysis.
End of image description.
To read the report, see “The next big arenas of competition,” October 23, 2024.