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Countries in the Association of Southeast Asian Nations (ASEAN) and their neighbours will undergo significant social, economic and industrial change over the coming decades.

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The emergence of these sunrise industries in the ASEAN region also presents opportunities for Australia.

Consumer incomes will rise, advanced technologies will be cheaper and more accessible, and economies will shift from industrial production to the provision of services.

These factors, among others, will drive future population and economic growth across the region. In the face of these changes, some industries will decline, while new ‘sunrise industries’ will emerge, generating new sources of long-term economic development.

This report identifies and profiles the following set of potential sunrise industries:

  • Artificial intelligence and autonomous systems. Made up of large and small companies which design, construct, implement and operate automated systems, this industry emerges as a result of the increasing capabilities of automation and artificial intelligence to deliver benefits at lower costs.
  • Financial and regulatory services technology. Enabled by technology and growing demand for innovative financial services, the FinTech and RegTech sector is made up of companies that provide digitally enabled financial and regulatory products and services.
  • High value nutrition. Growing incomes, rates of chronic diseases and concerns about food safety and provenance have driven demand for healthy, traceable and trustworthy food products that are sustainably and ethically produced, giving rise to an industry focused on high value nutrition.
  • Next generation energy storage and distribution. Improvements in the affordability and capability of batteries, other technological innovations, and consumer demand for clean energy solutions are fuelling demand for companies (both big and small) in the energy storage and distribution market.
  • Cyber-physical systems security. While cyber-physical systems (i.e. systems which have intertwined software and physical components) are becoming increasingly widespread, they can be vulnerable to hacking, creating new opportunities for the cyber-physical systems security industry.
  • Personal health and ageing. Rapidly aging populations are creating demand for products and services related to personal health and ageing (e.g. apps, wearable devices and mobile/telehealth services) along with personalised health and aged care.
  • Digital infrastructure and connectivity. While the wider Asia Pacific region has some of the world's most digitally advanced nations, digital infrastructure is still lacking for many ASEAN members, creating opportunities for the digital infrastructure industry to respond to the growing connectivity demand.

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