Defining emerging industries

Emerging industries can be defined as the establishment of an entirely new industrial value chain, or the radical reconfiguration of an existing one, driven by a disruptive idea (or convergence of ideas), leading to turning these ideas/opportunities into new products/services with higher added value. Other key characteristics of emerging industries are that they:

  • Are formed on the basis of a new product, service or idea
  • Result from cross-sector spillovers
  • Tend to be research and knowledge-intensive industries
  • Nurture entrepreneurship and an innovative spirit
  • Trigger and enable structural change in the market
  • Are characterised by a state of disequilibria, as their emergence often results from a disruptive idea
  • Have a high propensity to cluster

The following emerging industries have been identified, defined and analysed: