贝恩全球并购报告：AI在并购中应用规模增超一倍，八成受访高管将维持或增加并购

Core Insights - The global M&A market is expected to experience a new wave of growth opportunities in 2026, following a significant rebound in 2025, with a total transaction value reaching $4.9 trillion, a 40% increase from the previous year, marking the second-highest record in history [3][4]. Group 1: M&A Market Trends - The domestic strategic transaction value in China reached $395 billion in 2025, reflecting a 25% year-on-year growth, driven by policy support and consolidation in sectors like energy and advanced manufacturing [10]. - The report indicates that 80% of surveyed M&A executives plan to maintain or increase their M&A activities in 2026 [2]. Group 2: Key Drivers of M&A Activity - Three main drivers are shaping the new M&A landscape: disruptive technologies (including advancements in AI, robotics, and quantum technology), geopolitical factors and post-globalization trends, and portfolio strategy adjustments [5]. - Nearly half of the technology sector transactions in 2025 involved AI, while non-tech companies are increasingly focusing on acquiring firms that can develop technological solutions [5]. Group 3: AI's Role in M&A - AI is fundamentally transforming M&A practices, with 45% of M&A executives using AI tools in transactions by 2025, doubling from the previous year [6]. - Leading companies are leveraging AI across the entire transaction cycle to create higher value, including in areas such as dynamic deal pipelines and stakeholder insights [6]. Group 4: Capital Constraints and M&A Strategies - Despite active M&A activities, companies face challenges in capital allocation, with the proportion of funds allocated to M&A dropping to a 30-year low in 2025 [8]. - Bain's report outlines five key strategies for M&A in 2026, emphasizing the need for a strategic framework, ensuring significant investment returns, conducting thorough due diligence, building end-to-end M&A capabilities, and updating strategic capital allocation [9].