Information and Communication Technology Industry/Brands Statistics: Information and communication technology (ICT) deals with the different types of networks used and the technologies used in them. ICT combines manufacturing and service industries, whose products are primarily used to facilitate or fulfill the functions of information processing and electronic communication. This includes transmission and display. The ICT market is expected to grow to USD$5.5 Trillion dollars by 2022 and nearly six trillion by 2023. The ICT sector is a contributor to technological advancement, output, and productivity growth.
Innovations in technology such as Mobility and Cloud, Analytics, Social Media, and Social Media are creating agile businesses and improving customer experience. This results in unique value chains, business models, and innovative technology trends. The global ICT market is growing due to increased internet, broadband, mobile penetration, and other technological advances. ICT is driven by customer demand for instant access to content and products and the need for agility in enterprises. Technology marketers have a tremendous opportunity in the ICT market with close to 7 billion mobile subscribers and 3 billion Internet subscribers.
BFSI, Healthcare and Oil and Gas, Defence and Transportation, and Logistics are all key sectors. The ICT industry is an integral part of these industries.
The ICT market is interested in emerging technologies, niche solutions, and cross-vertical implementation. There are various industry subgroups within the ICT industry. Major groups are Analytics, Data Centre, Cloud, Infrastructure, Networking/Communication, Mobility, Security, and other segments. Major companies providing IT services are Microsoft Corp., IBM Corp., Accenture Plc, Oracle Corp., SAP SE, Tata Consultancy Services, Deloitte Consulting, Capgemini SE, Cognizant, DXC Technology, and many more.
As of 2021, the U.S. region accounted for 36 percent of the global information and communication technology (ICT) market share. The EU and China ranked as the second and third biggest regions, each accounting for a market share of over 11 percent.
ICT in the North America IT Industry:
The United States is the most mature market for IT Service offerings adoption. This is due to many factors such as the availability of technical expertise and the existence of advanced IT infrastructure. Many organizations have adapted to new technologies and IT infrastructure services. This has been possible due to extensive primary interviews with key individuals.
The North America IT industry was valued at US$ 459,198 Million in 2021. This industry is expected to exhibit a CAGR of 7.9% to a valuation of US$ 664,900 Million by 2026. Lower infrastructure and storage costs lead to a higher return on investment, which positively impacts the IT sector in North America and helps in its market growth.
ICT in Europe IT Industry:
In 2021, Eighteen technology companies raised investment capital in excess of one billion dollars. These types of venture capital-backed companies are now found in Europe. It now counts 115 Technological companies with an invested capital of USD 115 billion. In Europe, the SaaS model is the king. These types of companies will see a record 10 million euros in invested capital by 2021. In technology companies that address environmental issues, More than five billion euros have been invested in technology companies that address environmental issues.
ICT in APAC IT Industry:
COVID-19 acted as a catalyst to business transformation in APAC: 87% of APAC businesses plan for long-term IT changes. These plans drove tech spending in 2020, and more than 40% increased their budgets for 2021. COVID-19 had an impact on these budget increases. While overall IT budgets will be down slightly in 2021, 83% of APAC businesses still expect tech spending to remain the same or increase (compared with 80% in other regions). As in other regions, hardware will make up 31% of APAC’s IT budgets, followed closely by software at 28%.
Millions of corporate devices will continue operating outside the safe confines of corporate networks as more employees work remotely. The shift to remote working has raised concerns in all regions. This includes endpoint device security. Top concerns include vulnerability management and response to security incidents. There will be a strong demand for newer security solutions in APAC over the next two years.
ICT in South America IT Industry:
South America’s IT services market is greatly focused on core competencies and better efficiency, which leads to the market’s growth. Outsourcing service providers help companies with IT-related tasks such as infrastructure and application management, which helps companies to achieve their goals and mission by putting their resources into their core business.
ICT in MEA IT Industry:
Digital acceleration and rapid advancements in the IT sector impact organizations in the MEA Region. Around 60% of medium-sized and large organizations in the META Region have experienced increased cost efficiency through digitalization. 47% have introduced digitally enhanced products and services, 47% have improved their decision-making, and 46% have achieved increased value through their data, including new insights and improved revenue streams.
In 2020, Dell Technologies generated approximately 90,000 million U.S. dollars in global IT services revenue, making it the largest IT services company in the world in terms of revenue.
Dell Technologies was the largest global IT services company with a revenue of approximately 90 Million U.S. Dollars in 2020. Other major firms in the IT services market include IBM, with over 77000 million dollars in revenues, and Cisco and Accenture, which earned 51600 and 44700 million, respectively.
Top 5 Companies:
Microsoft Corporation is a software company that develops, licenses, and supports a variety of software products. The company’s product portfolio comprises operating systems, cross-device productivity apps; server applications; business solutions applications; desktop management tools, and software development tools. It also offers training and certification for computer system integrators. Microsoft markets sell and distribute its products through distributors, OEMs, resellers, resellers, online media, and Microsoft retail stores, among other channels. It provides cloud-based services, support, and consulting services. Microsoft’s business operations are conducted in the Americas, Europe, and Asia-Pacific. Redmond, Washington is the company’s headquarters.
International Business Machines Corporation (“IBM”) is a provider of information technology products, services, and solutions. The company designs and markets software and hardware systems. It also provides infrastructure. Its technology-based product lines include artificial intelligence, analytics and blockchain, cybersecurity, software development, and automation. It offers services such as consulting, delivery, implementation, networking, application, and business resilience services. They serve many industries including banking, financial markets, industrial, energy, utilities, healthcare, manufacturing, and communications as well as retail. It is present in Europe, Asia Pacific, and Africa. IBM’s headquarters are located in Armonk (New York), the US.
SAP SE is an enterprise software solutions provider company. The company provides customer relationship management, data management, and human capital management. SAP’s business lines include commerce, finance, and human resource management. The company offers analytics, apps, mobile, cloud, and database services. It serves a variety of industries, including financial services, natural resources, public services, discrete manufacturing, energy, and consumer. SAP is present in Europe, Asia Pacific, the Americas, and Africa. The headquarters of the company is located in Walldorf, Baden-Wurttemberg (Germany).
Oracle Corporation offers a complete and integrated stack of cloud applications and platform services as well as engineered systems. The company provides software and hardware products and services. These include database and middleware, application software, cloud infrastructure, and hardware systems like storage, computer server, and other industry-specific products. It provides a variety of cloud computing technologies including database and middleware, enterprise applications, clustering, large-scale systems management, and related infrastructure. It has operations in the Americas, Europe, and the Middle East, as well as Asia-Pacific. The headquarters of the company is located in Austin, Texas, USA.
Tata Consultancy Services (TCS)
Tata Consultancy Services Limited is a subsidiary of Tata Sons Pvt Ltd that provides information technology (IT), consulting, and business solutions. The company offers various services, including analytics and insights and cloud, AI, blockchain, cloud, and cognitive business operations. It also provides consulting, IoT and digital engineering, cybersecurity, TCS interactive, and other related services. It offers solutions for various industries, including retail, manufacturing, and travel. TCS has operations in Africa, Europe, Asia-Pacific, and the Middle East. TCS is headquartered in Mumbai, Maharashtra in, India.
Technological Advancements in Information Technology
Technology is rapidly changing. The future of technology is set by advances in information technology, such as artificial intelligence and automation. Robotics is becoming more sophisticated, and even refrigerators and thermostats are connected to the Internet.
The basic form of AI has functions, but no memories. They can play games, such as chess. However, they don’t remember what their last move was. They respond by analyzing the current situation and generating pre-programmed responses. They’re great for automated customer service.
The next level is limited in memory, while the third can gain an understanding of the world. These are the social media bots. IT professionals can use both these levels of AI to perform functions in the workplace, including cybersecurity and risk management.
However, the last step of AI is a program, which can make judgments about itself as well as the world around it. This step has yet to be reached. Right now, developers continue to improve the decision-making and memory functions of AI.
Cloud computing lets IT professionals store data and have access to resources via the Internet. This solution solves many storage and security issues and offers some savings. Cloud computing is also helping with one of the latest advancements in information tech – AI. Some businesses are reluctant to invest in AI systems as they can be costly. However, cloud computing allows for the creation of a vast library of machine-learning tools that are accessible to all. This opens up new avenues for innovation.
Monitoring and Predicting
Computer and software errors can have serious consequences for any business. It can cost companies money, time, or even goodwill. Here’s where the next IT innovation comes in. The cognitive systems can now detect and prevent errors in other applications. This helps companies respond quickly to, or completely avoid, catastrophic failures. IT professionals can save their employers from expensive situations by understanding and implementing preventative measures.
Zero-knowledge proofs protect users related to privacy concerns and keep transactions anonymous. This is a way to prevent the leakage of private data, which can pose a problem for businesses. A zk–SNARK is an example of zero-knowledge proof. Although they are effective in keeping private information secret, there are some problems. They can be slow and tedious to set up. If the cryptographic key is compromised, the whole system will fail.
Top New Technology Trends (2022)
Top New Technology trends (2022)
|wdt_ID||Computing Power||Quantum Computing||Smarter Devices||Artificial Intelligence|
|1||Datafication||Machine Learning||Digital Trust||Extended Reality|
|2||3D Printing||New Energy Solutions||Genomics||Edge Computing|
|3||Robotic Process Automation||5G||Augmented Reality||Cyber Security|
|4||Block chain||Virtual Reality||Internet of Things|
|Computing Power||Quantum Computing||Smarter Devices||Artificial Intelligence|
Impact of the ICT Industry on Society
Increased Speed of Communication
- In the past, it took a while for messages or news to arrive. The internet makes it easy to send news and messages via the internet.
- Effectively send e-mails to friends, business partners, and anyone you like.
- Any information can travel quickly with the internet’s broadband, bandwidth, and connection speeds. It saves you time and is extremely useful.
Lower Communication Cost
- Using the internet is less expensive as compared to other communication modes like mailing, telephone, or Korea Service. It allows people to have access to large amounts of data at a very low cost.
- The paperless environment is a term that ICT technology has made possible. This means that information can be stored electronically and retrieved from it. This is a way to create a paperless environment through online communication, such as email, instant messaging, and chat.
Effective Sharing of Information
- People can communicate with others and share news, information, and opinions through discussion groups, mailing lists, and forums on the Internet. This will enable knowledge sharing that will lead to the creation of a knowledge-based society.
- People are more inclined to prefer online communication over real-time conversation. People become more individualistic and introverted, which can lead to theft, hacking and pornography, and online gambling. This will lead to moral degradation and pose a threat to society.
- Computers can be dangerous if used for prolonged periods.
- Computer users also have to deal with bad posture, eye strain, and mental and physical stress.
- A screen filter can be used to reduce eye strain and a change in sitting position will reduce back strain.
Global ICT spending reached about 4.9 trillion U.S. dollars in 2020 and is expected to grow to 5,800,000 million U.S. dollars by 2023. In 2021, new technologies are forecast to eclipse the 1,000,000 million U.S. dollar mark.
The global information technology (IT) spending on devices, including PCs, tablets, mobile phones, printers, as well as data center systems, enterprise software, and communications services, came to 4,240,000 million U.S. dollars in 2021 and is expected to increase by approximately 5.1 percent to around 4,450,000 million U.S. dollars in 2022.
The global information technology (IT) industry spending for 2022 is estimated at approximately 5,300,000 million U.S. dollars.
This data depicts the revenue in the information technology and telecommunications industry (ICT) in Germany from 2008 to 2021 and a forecast for 2022. In 2021, the revenue amounted to 19,160 million dollars.
The worldwide full-time employment in the ICT sector is projected to reach 55.3 million in 2020 (pre-corona estimation).