Key emerging markets including India are becoming a force in reshaping global industry across sectors and are likely to outpace developed markets in the coming years, says Zinnov.
According to a study by market research firm, the E+ economies demonstrate a strong growth potential outpacing markets such as the US.
E+ markets are key clusters among emerging economies with rapidly expanding consumption. The five key E+ economies are India, Indonesia, Malaysia, Philippines and South Africa.
Domestic and foreign investments are the key growth drivers in these economies, the report said, adding that the presence of a large number of small and medium businesses is giving the required thrust to their economic growth.
"There are 90,000+ large enterprises in E+ countries compared to 41,000 in the US. 112 of the world largest 2,000 companies are headquartered in E+ markets," Zinnov Director -Market Expansion Praveen Bhadada said.
A base of 75 Million SMBs makes these E+ markets the largest SMB market globally, he said. Moreover, the per capita GDP in these economies is growing 250% more compared to the US.
"These are great indicators which is why E+ markets are becoming a force in reshaping global industry across sectors," he added.
The report also noted that the domestic consumption is rapidly expanding in the E+ economies and the fact that the rapidly expanding youth populations and labour force in emerging economies is all set to yield demographic dividends.
The report that highlighted the spends and trends in various sectors like Information technology, telecom, retail, automotive, education and healthcare said with over $50 billion spent in IT investments E+ economies demonstrate the fastest growth in IT across the world.
Besides, the E+ economies with 1.33 billion telecom subscribers globally have almost 4 times the subscriber base in the US, it added.
