Business News: These 5 Industries Expected to Shape The Global Economy by 2040

Business News: The global economy is undergoing a fundamental disruption, driven by development in innovation, technology, and entrepreneurial concepts. According to a McKinsey Global Institute analysis, five high-growth industries are expected to change the global economic landscape by 2040. These industries, which today account for approximately 4% of the global economy, are predicted to increase their contribution to 16%, establishing major economic superpowers. Among these, artificial intelligence (AI) stands out as a transformational force that is actively revolutionising industries such as healthcare, finance, education, and entertainment, rather than remaining isolated to labs. AI earned $85 billion in revenue in 2022, and this figure is expected to rise to $4,600 billion by 2040, accounting for roughly 25% of total worldwide growth.

Top Industries Reshaping Global Economy 

E-commerce has now become a cornerstone of the global economy, valued at $4,000 billion in 2022 and projected to rise fivefold to $20,000 billion in 2040. The cloud services sector is supporting this digital infrastructure, with heavyweights such as AWS, Google Cloud, and Microsoft Azure becoming crucial for modern organisations. Cloud services revenue was $220 billion in 2022 and is expected to reach $3,400 billion by 2040. The electric car industry is also altering transportation by providing efficient, environmentally friendly alternatives to fossil fuels, with revenue estimated to grow from $450 billion to a sizable share of the market. Finally, digital advertising, led by platforms such as Instagram and YouTube, is transforming brand communication, with revenues expected to rise from $520 billion in 2022 to $2,900 billion by 2040.