The world is on the edge of a massive economic transformation. According to Futurologist, Professor Rocky Scopelliti, 18 key industries are set to grow from $6 trillion today to a staggering $48 trillion by 2040. And that’s just 15 years away.
“This is a very significant, fast change the global economy will go through,” said Professor Scopelliti in a recent conversation with Doug on Table Talk.
The Future Is Closer Than You Think
Industries that currently make up just 4% of the global economy are expected to jump to 16% by 2040. That’s a fourfold increase in global influence, impacting jobs, education, and even the way nations interact. “It’s not the end of industry,” said Scopelliti. “It’s the beginning of something smarter, cleaner, and more inclusive.”
What Industries Are We Talking About?
Some of the fastest-growing areas include:
- Artificial Intelligence (AI): AI software and services currently sit at $85 billion but are projected to reach $4.6 trillion.
- Electric Vehicles (EVs): Expected to rise from $450 billion to $3.2 trillion.
- The Space Economy: Set to grow from $300 billion to $1.6 trillion.
- Biotechnology: Rapid advancements are being driven by health science innovations, many pioneered in Australia.
Scopelliti also pointed to Australia’s role in the space industry. “Australia has re-entered the space race,” he explained. “We launched our first rocket not long ago, and we’re well-positioned for growth.”
What’s Driving These Changes?
Two major forces are pushing these industries forward:
- Global Challenges like climate change and aging populations.
- Technological Innovation improving productivity and creating new sectors.
“We simply won’t have enough workers due to aging demographics,” said Scopelliti. “We must reskill and rethink education.”
Education Will Never Look the Same
The days of studying once and working forever in one field are over. Lifelong learning is the new standard. “You can’t just hang your degree on the wall and call it done,” Scopelliti warned. “We need to constantly reskill.”
Australia’s Opportunity
These 18 emerging industries could contribute over $300 billion annually to Australia’s GDP.
“We’re at a crossroads,” said Scopelliti. “We must shift from relying on mining and construction to embracing clean energy, biotech, and digital health.”
He also pointed to unique technologies, such as underwater drones, and agri-tech, where drones apply laser treatments instead of pesticides.
“We’ve always punched above our weight in innovation,” he added. “And our space industry could create 20,000 jobs by 2030.”
Why It Matters to Everyday Australians
From AI in health care to smart farming and satellite-powered agriculture, these industries will touch all parts of life. New jobs, new skills, and new ways of working will become normal.
“Many of the jobs people are doing today won’t exist in five to ten years,” said Scopelliti. “That’s why lifelong learning is not optional, it’s essential.”
Final Thoughts
The future isn’t a distant concept, it’s arriving fast. Whether it’s electric cars, space tech, or satellite-supported farming, the opportunities are huge. But so is the need to adapt.
For Australia, the message is clear: embrace the change, invest in education, and help shape the industries of tomorrow.
“This isn’t just for scientists and techies,” said Scopelliti. “It’s for all of us.”
Listen to the full conversation below.