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The innovations brought in by industry 4.0 technologies, also termed disruptive technologies are at the core of various businesses, organizations, sectors, industries, countries, and human-tasks as well. New age disruption induced by such technologies sweeps away the systems or replaces consumer or market habits through a recognizably superior behavior. Cloud Consulting, Cyber Security, Business Intelligence and Big Data, Artificial Intelligence, and Virtual & Augmented Reality are among the top disruptive technologies leading way towards better business prospects.
Besides, McKinsey considers mobile internet, automation of knowledge work, the internet of things, cloud technology, Advanced robotics, Autonomous, and near-autonomous vehicles, next-generation genomics, energy storage, 3D printing, advanced materials, advanced oil and gas exploration and recovery, and renewable energy as the top twelve potentially economically disruptive technologies.
The American management consulting firm, estimated the potential economic impact of 12 technologies across a set of promising applications, based on feasible scenarios for technology advancement, reach, and resulting productivity or value gains that could be achieved by 2025. It estimated the potential (rather than realized) value in 2025 by assuming that addressable barriers to technology adoption and value creation (such as the need for supporting regulations) can be overcome and that reasonable, necessary investments can be made.
McKinsey's estimates represent annual value, including consumer surplus, that could be realized in 2025 across sized applications. These estimates are not potential revenue, market size, or GDP impact. Here are the estimations regarding the economic value at the stake of 12 potentially economically disruptive technologies:
US$1.7 trillion GDP related to the Internet
US$25 trillion Interaction and transaction worker employment costs, 70% of global employment costs
US$9+ trillion Knowledge worker employment costs, 27% of global employment costs
US$36 trillion Operating costs of key affected industries (manufacturing, health care, and mining)
US$1.7 trillion GDP related to the Internet
US$3 trillion Enterprise IT spend
US$6 trillion Manufacturing worker employment costs, 19% of global employment costs
US$2–3 trillion Cost of major surgeries
US$4 trillion Automobile industry revenue
US$155 billion Revenue from sales of civilian, military, and general aviation aircraft
US$6.5 trillion Global health-care costs
USUS$1.1 trillion Global value of wheat, rice, maize, soy, and barley
US$2.5 trillion Revenue from global consumption of gasoline and diesel
US$100 billion Estimated value of electricity for households currently without access
US$11 trillion Global manufacturing GDP
USUS$85 billion Revenue from global toy sales
US$1.2 trillion Revenue from global semiconductor sales
US$4 billion Revenue from global carbon fiber sales
US$800 billion Revenue from global sales of natural gas
US$3.4 trillion Revenue from global sales of crude oil
US$3.5 trillion Value of global electricity consumption
US$80 billion Value of global carbon market transactions
McKinsey says, "Based on our analysis, however, we are convinced that collectively the potential for our sized technologies and applications is huge: taken together and netting out potential overlaps, we find that they have the potential to drive direct economic impact on the order of US$14 trillion to US$33 trillion per year in 2025."
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