Formation of Emerging Industries of Economy: World Trends and Situation in Russia

Abstract

The object of study in this article is the industries of the economy that have emerged since the middle of the 19 century (approximately since the 1950s), which are based on the use of digital technology. Based on the analysis of foreign studies and information from open sources on the Internet, in particular the analytical reports of Precedence Research, Allied Market Research, Market Research Future, the author identifies the industries of the economy that can be considered as the emerging. In this study, the following industries are considered as the emerging: artificial intelligence, virtual reality, digital health, hydrogen car manufacturing, cyber security, additive manufacturing, Internet of things, private space tourism and digital twin manufacturing. Emerging industries are the sectors and firms that create disruptive technologies and/or have huge market potential. The author explores the main features of the emerging industries of the economy and calculated growth rates of their industry market compared to average market growth rates. The article also provides information on the development of the emerging industries of the economy in Russia, but this information is very limited due to the lack of unified methodological approaches to identifying the emerging industries. Based on comparison of the emerging industries development in Russia with foreign countries, the author proposes a classification of the Russian emerging industries into several groups. As a result of the study, recommendations for improving the conditions for developing the emerging industries of the economy in Russia are given.