Emergent markets: Mapping trends to markets

HomeEmergent markets: Mapping trends to markets

Emergent markets: mapping trends to markets

Taking a fresh look at global trends and economic markets that present opportunities for future regional growth in the North East LEP area

Drivers of future growth

To identify the most promising market opportunities for the North East LEP our foresight report mapped 37 high impact future trends to global markets. The results show how business model transformations, economic and political shifts, environmental trends, technological shifts, and social and demographic changes (BEETS) are driving change in regional market opportunities. The aim of this process is to illustrate which trends are likely to influence which markets, rather than quantify their exact impact.

The high-level mapping of the trends by each section of the BEETS model shows that each of the 16 market opportunities are being influence from a variety of interacting perspectives. All the markets are being influenced by at least four of the five sections of the BEETS model, and the majority are being influenced by all five sections.

The influence of technology is clear from this high-level mapping. Many of the markets are set to be influenced by a significant number of technological trends. This is especially true of the markets linked to digital technology and advanced manufacturing, such as cloud computing, cybersecurity and autonomous and electric vehicles.

Some areas of the BEETS model are expected to have a more mixed impact over the next 10-15 years. Environmental trends for instance, while having a positive impact on some markets such as autonomous and electric vehicles, are also set to constrain growth in some areas of electricity generation and space and satellites. This is primarily because of the energy intensive nature of these markets.

Mapping trends to markets

Mapping individual trends to markets

The graphic above gives a high-level overview of how the different markets are being developed by global trends but understanding the impact of each individual trend on these markets provides an extra level of detail. The mapping of individual markets to trends can be seen below split by the different areas of the BEETS model (with technology divided into digital and non-digital technologies).