The projected growth of emerging technology markets to EUR 20 trillion by 2040 presents a significant shift in the global industrial landscape. A recent study by Roland Berger indicates that these thirty emerging tech sectors, currently valued at EUR 2.5 trillion, will burgeon into a market that constitutes over a third of global industrial output.
Key Insights from the Study:
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Market Potential: The study highlights 14 tech fields with a combined market potential of approximately EUR 16 trillion, including charging infrastructure and humanoid robotics. Europe stands to capture around EUR 3 trillion (20%) of this growth, provided strategic measures by industry and policymakers are enacted.
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Strategic Routes for Europe: The report outlines three potential strategies for Europe:
- Pursue Global Leadership: Focus on areas of existing strength like quantum technologies.
- Build Domestic Markets: Invest in sectors where there is strong local demand.
- Attract Foreign Technology Providers: Collaborate with external tech leaders in fields where Europe lags behind.
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Policy Shortcomings: Existing frameworks such as the AI Act and the European Chips Act are noted to have underperformed, necessitating a collaborative effort between policymakers and industry to optimize investment conditions.
Conclusion:
Felix Mogge, a Partner at Roland Berger, emphasizes the urgency for Europe to act or risk losing out on the value generation from the forthcoming wave of technology trends. The call to action stresses the importance of concerted efforts to foster growth and innovation in the region.
For further details, visit the Roland Berger press release.
