BMI Research: Global economic and political order to become notably multi-polar by 2050; Internet of Things and the Low Carbon Economy to reshape industries
LONDON, April 10, 2018 /PRNewswire/ -- BMI Research, a Fitch Group Company: The Internet of Things (IoT), digital and low carbon economies, shifts towards a multi-polar economic and political world order are some of the industry, political and economic megatrends that will shape the 21st century through 2050, according to a new report from BMI Research, a Fitch Group Company. The report, "Towards 2050: Megatrends In Industry, Politics And The Global Economy 2018 Edition," examines how these trends will evolve and looks back at what has changed since the first edition of the report was published in 2016.
"There will be no single paradigm to define the coming era," said Yoel Sano, Global Head of Political Risk, BMI Research. "By 2050 we can expect to see the emergence of a multi-polar world; growing tensions between central and provincial or local authorities; new technologies that will dramatically transform the workplace, society, and warfare; climate change and resource scarcity that will make migration patterns more volatile; and the development of new ideologies in response to these challenges."
Over the next few decades, BMI Research views a shift towards a more multi-polar world order, from a U.S. led order, as virtually inevitable as China, India, and several middle-ranking powers will rise economically and geopolitically.
"Shifts to the digital economy and universal connectivity enabling the IoT will be dominant trends across industries in the coming three decades," said Marina Petroleka, Global Head of Industry Research, BMI Research. "Environmental priorities will also be a powerful driver of corporate transformation as companies prepare to operate in the low-carbon economy. However, we envisage a rising regulatory and policy backlash against technology and industry disruptors as the main risk to their future commercial and operational viability."
BMI's Megatrends Survey 2018 of 250 senior executives from 13 industries around the world, which is included in the report, also points to the 'Internet of Things,' automation, and climate change as the forces that will have the highest impact across industries over the next 30 years.
The biggest shift in recent years, according to the report, is the challenge to the idea of the omnipotence of the forces of globalization as populism takes hold. However, the proliferation of the internet will buttress its development , and BMI Research does not believe that globalisation as a macro megatrend will be less meaningful in the coming three decades.
The report covers political and macroeconomic megatrends across the world as well as in 11 sectors: technology, media & entertainment; pharmaceuticals & healthcare; medical devices; food & drink; agriculture; autos; power; infrastructure; construction & engineering; oil & gas; and metals & mining. The report is available at www.bmiresearch.com.
About BMI Research:
BMI Research is an independent provider of country risk and industry analysis, covering 22 industries and 200 global markets. A unit of Fitch Group's information services business, BMI Research is committed to delivering comprehensive data, analytics and forecasting solutions to help improve the financial and operational performance of its clients. The world's most renowned financial institutions, corporations and governments rely on BMI's macroeconomic and political risk coverage, breadth of industry data and financial market analysis to inform their decision making. http://www.bmiresearch.com
About Fitch Group:
Fitch Group is a leading independent provider of essential financial information and services to the global financial markets, including credit ratings, research, analytical tools, data, and education. With operations in more than 30 countries, Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; BMI Research, an independent provider of country risk and industry analysis specializing in emerging and frontier markets; and Fitch Learning, a preeminent training and professional development firm. Fitch Group is majority owned by Hearst.
Media contact:
Peter Hoflich
BMI Research, A Fitch Group Company
+65 6576 5823
Peter.Hoflich@bmiresearch.com
Hannah James
Fitch Group
+ 1 646 582 4947
hannah.james@fitchratings.com
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