The "Next Big Arenas of Competition" report by McKinsey Global Institute identifies 18 emerging industries that could drive $29-48 trillion in global revenue by 2040. Defined by rapid growth and dynamism, these "arenas" include AI, cybersecurity, autonomous vehicles, biotechnology, and advanced construction. They are marked by high investment, transformative technology, and competitive advantages for early adopters. Current arenas like e-commerce and electric vehicles are expected to continue reshaping industries, while new areas such as space and obesity treatment represent untapped potential for innovation.

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