As some areas of the globe become over-farmed, over-populated, or otherwise reach their maximum potential, others gain prominence. Asia will evolve as the global leader in population, production and consumption in next 10 years, including the growth of middle classes. Africa is another high-potential area; so are space and the Arctic. Finally, technology opens a new virtual market of young, technology savvy consumers across the globe.
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Shifting market frontiers will shape the future strategies of global companies across industries. To ensure future growth, businesses will have to adapt to the changing demographic, economic and technological reality that bring new markets from frontier into the spotlight.
Companies are facing increasing global competition, rising complexity, and cost of researching and entering the new frontier markets.
By 2030, developing countries will account for over 60% of global population and GDP. Multinational companies will increasingly see their key revenue streams coming from Asia Pacific and the most lucrative opportunities arising in the underdeveloped African markets.
As people spend increasing amounts of time on the internet, social networks and virtual reality, successful companies are using it to their advantage. Virtual reality is especially attractive, as it allows companies to access young, technology savvy consumers across the globe in one place and the creative freedom of the media is unlimited.
In the face of global warming, the Arctic is becoming increasingly accessible for global mining, shipping, tourism and other industries. But opportunities come with high environmental risks and pressure from public and private sectors to maintain high sustainability standards.
Humankind’s interest in space is long-standing. Ultimately, as population grows and Earth’s natural resources diminish, sources outside our planet will have be found to cater to the ever-growing demand.
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About the Megatrends Series
Our new Megatrends report series highlights the eight most influential megatrends to watch for both 2017.
Euromonitor International’s global research teams continually monitor the consumer, industry and economic trends shaping world markets.
Our expertise, combined the latest techniques in re-examining the tens of millions of data points in our Passport database, allows us to be uniquely positioned to provide a holistic approach to common drivers that have the power to transform and disrupt entire categories in the next five years.
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