More than a decade has passed since the PwC network identified five Megatrends, which we characterised as deep and profound trends, global in scope and long-term in effect, touching everyone on the planet and shaping our world for many years to come. It is now clear that these Megatrends have transformed our world even faster than we predicted. Largely this is due to the interaction between the trends, which has turbocharged both the speed and pervasiveness of change.
While the Megatrends have been unfolding, they have also evolved, and the way they are manifesting today has shifted compared to ten years ago.
We have revisited the Megatrends to understand how they have changed, what future they may create in 2030, and what questions they will present to humanity.
While humanity is trying to figure out ways to reduce carbon emissions, greenhouse gas levels in the atmosphere are worsening, global temperatures are rising, and extreme weather events are becoming more frequent and more severe.
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Transformative technology changes how we function in the world and how we understand humanity. It enables huge value creation, but harmful consequences are – and will increasingly be – difficult to mitigate.
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The median age in all countries around the globe is increasing*, but at different rates and from a different starting position. This demographic change is causing some countries’ social systems to break down and a lack of workers in critical areas, whereas other countries face skyrocketing un- and under-employment, weakening economies from emigrating citizens, and strain on social safety nets.
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Source: United Nations, Department of Economic and Social Affairs, Population Division (2022). World Population Prospects 2022
The world is fracturing and becoming multi-nodal as more nation states are competing for influence, with the rest of the world aligning around them and some states acting as destabilisers. Countries are increasingly turning their focus inwards, prioritising their national resilience and localisation.
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Massive pressure – resulting from social and economic asymmetry, polarisation, and eroding trust – leads to greater social unrest.
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The five Megatrends have already and will continue to change the world for many years to come. Each one of them implicates existential questions and has the potential to bring humanity to a tipping point. But it’s the interaction between these Megatrends that makes them particularly hard to deal with. Each Megatrend is exacerbating the social challenges the world faces, and the magnitude of the social challenges makes it difficult for societies to come together and fight the negative effects of climate change, technological disruption, demographic shifts, and a fracturing world.
It has become apparent that the long-term phenomena of the Megatrends are already upon us. Governments, organisations, and society are all struggling with the near-term manifestations of these trends and looking for answers. We are helping our clients to focus on these challenges using a framework we have called ADAPT.
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