While many investors and executives continue to seek growth opportunities within traditional industry boundaries, the business world is accelerating rapidly into a new era of transformation. According to PwC’s “Value in Motion” report, two key forces are expected to shape the global economy over the next decade: artificial intelligence (AI), projected to expand the global economy by nearly 15% by 2035, and climate change, which could contract it by nearly 7% in the same period.
As a result, businesses must embrace a new mindset: entering the “domains of growth” — a concept that opens the door to opportunities in an era of disruption.
The Shift Toward "Business Domains" of the Decade
Far from being just pressure points, today’s global challenges are accelerating innovation and transforming industrial structures in unprecedented ways. This transformation doesn’t occur within isolated industries, but instead gives rise to “domains of growth” — emerging business ecosystems that generate massive revenue potential by blending industries to meet evolving human needs. These domains cover mobility, caregiving, creation, healthcare, energy, financing, insurance, and more.
PwC emphasizes that companies leading this cross-industry innovation movement are better positioned to capture the next wave of competitive advantage and economic value.
The report identifies nine high-potential growth domains, estimating that in 2024 alone, companies pioneering new business models within these domains could generate up to USD 7.1 trillion in revenue — largely driven by structural shifts in markets. Much of this value could flow from incumbents to new players that adapt more quickly and innovate more effectively.
Industries Collaborating for the Future
The essence of success in this new era lies in cross-industry collaboration. A prime example is the “Creation” domain, where diverse industries are working together to design sustainable cities and tackle pressing global challenges.
PwC notes that industries once operating in silos — such as engineering, construction, and real estate — are now converging in response to urban expansion, climate imperatives, and advancements in AI.
For instance:
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Real estate developers are raising capital to invest in smart technologies that improve energy efficiency.
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Tech companies are entering the smart appliance market with home energy management tools.
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Engineering firms are expanding into water treatment and renewable energy solutions.
PwC projects that transformation in the construction sector alone could generate USD 517 billion in revenue in 2024, and by 2035, this domain may boost global GDP by 3%, up from a current base of USD 13.76 trillion.
Similarly, the “Mobility” domain illustrates how transportation is no longer confined to a single industry. Carmakers are partnering with payment providers and energy companies to create end-to-end consumer solutions. This is propelling the rapid adoption of electric vehicles (EVs). PwC forecasts that USD 425 billion in capital could shift to new players in the mobility space this year, as consumers seek integrated service ecosystems over mere vehicle ownership.
“Domains of Growth”: The Opportunity Leaders Must Seize
Despite their massive potential, these new domains also come with rapid and unpredictable change. Emerging technologies and climate pressures will rewrite the rules of business.
However, for visionary leaders who embrace bold thinking and cross-sector innovation, the rewards are immense. These domains offer not just a reimagining of industries, but the potential to reshape the global economy.
Ultimately, success in the decade ahead will depend on how effectively leaders can leverage new technologies and mindsets. The “domains of growth” are more than opportunities — they are the strategic keys to unlocking future success.
https://www.bangkokbiznews.com/corporate-moves/tech/innovation/1186587
