For decades, innovative companies with disruptive ideas have achieved stunning stock market success by challenging tradition-bound industries that were unwilling or unable to adapt, writes Mark Baribeau, global head of equity at Jennison Associates.
In the 1980s, pharmaceutical firms boosted research budgets to battle the planet's most deadly diseases. The digital revolution in the 1990s saw companies like Microsoft and Intel design software and hardware that powered the personal computer revolution.
In the 2000s, upstarts such as Google and Amazon.com transformed the way people search for information and shop.
The pace of innovation in the 2010s is robust. Think about it. Not long ago, who could have fathomed the ability to control a home security system from your mobile phone or ride in a car without a human behind the wheel?
This is the NEXT (New Exceptional Technologies) economy. Companies taking a leading role in this radical new world are developing the latest disruptive products and services that consumers want - whenever and wherever they need them. They are also the potential market leaders - the new growth companies delivering significant gains in a slow-growth world.
To identify these companies, it helps to examine six major NEXT economy themes.