The industry as a whole does not face many threats from outside forces when it comes to technology. Due to the long period of existence of Pepsi and Coca-Cola in the industry, they have certainly accumulated an abundance of brand loyalty and brand equity that can enable them to survive for a long time and this would enable them to 'use their brand equity when they differentiate their business by leveraging the brand name. Globalization has given Pepsi and Coca-Cola a boost in the face of emerging economies. This opens up a great opportunity for them to benefit from consumption in emerging economies compared to the US market. Both Coke and Pepsi have a non-carbonated beverage market that they can expand into to find growth opportunities as demand for sugary carbonated drinks begins to increase.