The global Information and Communications Technology sector was valued at USD 1.7 trillion by the end of 2022 and is expected to increase to USD 4.14 trillion by 2032. This growth was projected at a CAGR of 9.3% during the period 2022-2032.
The Information and Communications Technology sector is dynamic and the demands for faster transmission and more capacity are ever-growing. All digital technology that aids individuals, businesses, or organizations in using information is considered ICT. It includes all electronic products that use digital information. ICT refers to digital data storage, retrieval, and transmission.
New digital technologies are emerging at an unprecedented rate and changing the way businesses operate. Digital transformation has now changed the face of every industry. Early adopters already perform significantly better in terms of productivity and have higher margins.
The ICT industry is dynamic, and there are always increasing demands for speed and capacity. This market’s key players can capitalize on the opportunities created by this trend in areas like business outsourcing, gaming, e-commerce, and cybersecurity.
Other emerging categories like robots/drones or AR/VR headsets will experience similar growth over the next few years. The industry is expected to experience a significant increase in spending on new categories over the next ten years.
Digital technologies are changing our lives and working at an unprecedented pace. Every person in every industry is now being affected by digital transformation. The early adopters are already performing significantly better in revenue growth and have higher margins. Hence businesses must constantly keep themselves updated with the existing market conditions.
This is where Market.us comes into play.
We use the power of analytics and research for our clients to create and implement platform-based business models, along with making informed decisions.
Market.us has established itself as a reliable source of verifiable business information. We offer extensively valuable insights on various business data needs that professionals in the Information and Communications Technology market may then use to address potential challenges, thus positively influencing the growth trajectory of their respective organizations or business.
We analyze and comprehend the key trends and developments in the sector to support our clients’ key strategic plans and business decisions. We can provide the right help which our clients can leverage. They can gain the right business intelligence needed and build more efficient and economically-sound strategies.
We utilize primary and secondary information sources when formulating comprehensively quantifiable strategies that address our clients’ areas of interest.
Market.us provides a short gist on this Information and Communications Technology Industry.
The top 10 market players include huge names such as Apple, Samsung, and Google. Accenture is the only consulting firm to appear the top 15, while both companies TCS and Infosys also have large IT consulting practices. Among the giants, Apple is considered to be one of the most valuable brands in the world.
With the COVID-19 disruption in 2020, investors are now depending on tech to avoid recession owing to their enormous size and power.
Our Information and Communications Technology category segmentation encompasses:
Mobility, Telecom & Wireless Read More ▾
Information & Network Security
Communication Services – Providers & Operators
High Tech, Enterprise & Consumer IT
Software and Services
E-Commerce and Outsourcing
Entertainment & Media Technologies