Megatrends are predicted in a report for Malaysia's economic sectors of connectivity and convergence, economic trends, as well as health and well-being by the market research firm Frost & Sullivan lately.

Megatrends are defined as transformative, global forces that define the future world with their far-reaching impact on business, societies, economies, cultures and personal lives, the firm said.

In its report, the firm sees a huge potential for digital marketing and eCommerce and Internet of Things (IoT) in Malaysia.

The IoT is expected to provide potential revenue of over 64 billion U.S. dollars in the next 10 years, the report said.

Malaysia is expected to record a GDP of more than 632 billion U.S. dollars by 2025, the report added.

It said the Intra-ASEAN trade will comprise almost 30 percent of the country's total trade volume by 2025. China and Singapore will remain Malaysia's top trading partners.

Besides, it said, the medical tourism and senior-living industry will witness a surge, and focus will shift from therapeutic to preventive care.