1、The race takes off in the next big arenas of competitionIn the arenas,investment cycles are accelerating,value pools are shifting,and a new type of competitor is scaling across industries.March 2026AuthorsKevin RussellChris BradleyNaveen SastrySuhayl ChettihKweilin EllingrudNatalya GoryunovaEditorCi
2、ntra ScottDesignLaura M.MandujanoCopyright 2026 McKinsey&Company.All rights reserved.Cover image:American football stadium at night.yalax/Getty Images.All interior images Getty Images.Confidential and proprietary.Any use of this material without specific permission of McKinsey&Company is strictly pr
3、ohibited.The race takes off in the next big arenas of competition McKinsey Global InstituteThe McKinsey Global Institute was established in 1990.Our mission is to provide a fact base to aid decision making on the economic and business issues most critical to the worlds companies and policy leaders.W
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6、ogies and markets of the future:Discussing the next big arenas of value and competition We aim for independent and fact-based research.None of our work is commissioned or funded by any business,government,or other institution;we share our results publicly free of charge;and we are entirely funded by