This report has been developed by McKinsey Center for Future Mobility.
The industrial sectors will see more disruptions in the next five years than they have in the past 20 combined. A McKinsey survey on the impact of the forces industrial players face shows revenues will grow overall, but incumbents might not have the skills needed to capture their fair share.
These disruptions are unprecedented in their scale and speed, driven by massive advances in data generation, computing power, and connectivity. They already affect all aspects of business and life more broadly. Challenges to preconceptions concerning the roles and responsibilities of companies abound.
What’s more, these disruptions connect to execution capabilities, not just the underlying technologies. In many cases, the technologies themselves are not cutting edge – the difference is how attackers are using them. Companies that successfully adapt to this new environment will overwhelm those that fail to act.
McKinsey’s survey examines the disruptive forces themselves and how prepared companies are to tackle them. Responses also relate to the implications for incumbents of the new disruptive world and explore the moves companies can make to deliver a sustained, successful response.