The majority of the world's 100 largest companies would be out of that list over the next 30 years due to so-called "digital disruption", a new book claims.
The book entitled iDisrupted written by John Straw and Michael Baxter says that only 19 of the world's 100 largest companies in 2012 would retain their positions in 2042. Even this bold claim may be understating how things will pant out, it adds.
The emergence of new technologies has always had a disruptive effect on business and economy. History reveals that some companies which were well-known at some point of time disappeared from the face of the earth due to digital disruption.
In the new book, the authors claim that the number of companies that would suffer from technological advancements is set to increase in the coming years.
The book examines the history and future of disruptive technology, how it will affect business, jobs, economy and even what it is to be human.
iDisrupted examines digital disruption, its history, its future and the massive economic change it is about to bring.
The authors note that of the top 100 global companies identified in 1912, 29 companies had experienced bankruptcy or similar events, and 48 had disappeared by 1995.
Eastman Kodak was one of just 19 companies that stayed in the list during these years, but it too became bankrupt in the 21st century. The imaging solutions company suffered from the rise of new technologies such as digital cameras, home printing and photo-sharing websites.
Likewise, the authors claim that many of the industries we currently see as strong, such as oil, car manufacturers, banks and energy companies, could be heading for the "corporate graveyard" within the next few decades.
"The big corporate success story of the 20 century related to oil companies, but just because they flourished in the 20th century, this does not necessarily mean they will flourish in the 21st century," says Straw.
"The rise in electric cars, self-driving cars and advances in solar power and energy storage, will all play a part in the energy industry as we currently understand it."
"In our book, we try to explain why it is that technology is set to change the world like it has never been changed before. This is exciting, but it is also scary. There will be winners and losers, and some of the world's largest companies will be amongst the losers," Baxter adds.
The book is due to launch in three weeks.