WASHINGTON -- Forget about old economy and new economy. Everything is now part of the tech economy, a prominent U.S. research panel said Monday.

New technologies ranging from cloud computing to data analytics are transforming virtually all industries, including old-economy sectors like manufacturing, said the report by the National Academy of Engineering.

Manufacturing can no longer be considered separate from the system of technological innovation used in new economy sectors, said the report by the NAE, part of the National Academy of Sciences, a research organization created by Congress.

"Technological developments, reengineered operations, and economic forces are changing the way products and services are conceived, designed, made, distributed, and supported," it said.

"Developments in data collection and analytics, digital manufacturing, and crowd-sourcing have opened up a wealth of possibilities for companies and entrepreneurs to better understand customer needs and desires, optimize design and production processes, discover new market opportunities, and acquire new investment funds."

Technological developments, reengineered operations, and economic forces are changing the way products and services are conceived, designed, made, distributed, and supported."

The pharmaceutical sector, the report said, is being affected by apps and services to help people take their medicine on schedule.

The automotive industry, meanwhile, is changing with new software and services ranging from entertainment and apps to vehicle maintenance monitoring.

For some U.S. companies, this new paradigm has led to moving some manufacturing operations back onshore to better integrate research and new product development, the report said.

The nature of jobs is changing as well, the researchers said, with repetitive manual jobs consisting of repetitive tasks "largely disappearing," according to the report.