US.: +1-650-918-5898
UK.: +44-020-8133-4027
AUS.: +61-2-4786-0457
INDIA: +91-848-285-0837
Global information and communication technology (ICT) industry can be broadly segmented into IT equipment, software, IT & business services, telecommunication equipment, and carrier services. Widening business operations and rising demand for high-speed connectivity throughout the business value chain have led to vast integral applications of ICT. ICT finds application in every industry ranging from oil & gas, healthcare, banking, financial services and insurance (BFSI), to transportation & transit industries.
Rapid strides in the ICT industry have led to an unprecedented increase in sales of smartphones, which are supported by the robust IT infrastructure. This increase in global penetration of smartphones is fueling growth of the ICT industry. Ability of consumers to access anything from anywhere across the globe, with around 7 billion mobile users and 3 billion internet subscribers in 2016, as per the ICT Data and Statistics Division, is projected to present potential growth opportunity. Trends that include cloud, analytics, social media and mobility have led to development of agile enterprises through distinct value chains and business models that offer a better consumer experience.
Cloud and Analytics
Cloud technology has witnessed adoption in every industry and industrial operations. The technology scope is inclusive of huge scalable ICT related technologies that include networks, storage, servers, applications and services that are provided to consumers through virtualization.
Different types of cloud offerings include Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS). SaaS is the most preferred form of cloud computing. Hybrid cloud models are being increasingly adopted by enterprises and are contributing to the industry growth. Along with multiple benefits offered by these solutions, industry is expected to consistently face challenges such as data security threat, limited user control, and interoperability problems that may arise while migrating from a vendor to another.
Exponential increase in data due to global digitization is likely to make data analytics a crucial tool for effective optimization of data in providing workable insights. The growing need to take appropriate business decisions, enhancing business productivity and cost savings is scheduled to drive demand for cloud data analytics.
5G Technology
Demand for faster internet speeds owing to increasing connectivity in every industrial segment, has led to development of 3G and 4G connectivity. However, players operating in the telecommunication industry are planning to develop 5G connectivity featuring theoretical wireless download speeds of 10k Mbps, broader bandwidth and capability to run complex internet applications (e.g. VR/AR applications). Industry participants such as Nokia, Samsung, Qualcomm, BT and Ericsson have already made notable advancements in this area. For instance, in June 2017, Keysight Technologies collaborated with Qualcomm Technologies Inc. for the development of 5G test solutions.
Development of this technology will help IoT gain significant leverage through its lower latency, high ubiquity and increased consumer usability. However, high costs of the technology may act as a considerable growth barrier over the coming years.
Internet of Things
Connected mobility is expected to gain significant momentum over the forecast period owing to growing support from regional governments, specifically in the U.S., in addition to product developments by players operating in the market.
Industry players have made significant development in V2V and V2X communication systems. For instance, in March 2017, General Motors started the production of 2017 Cadillac CTS sedan featuring V2V communication. Moreover, the U.S. Department of Transportation is expected to introduce mandates by 2023, which is expected to facilitate growth of the market.
Growth Challenges
WannaCry Ransomware attack in May 2017 affected around 57,000 computers across 150 countries. Proliferating connectivity and cloud solutions can increase risk of malwares and cyber-attacks. Such concerns regarding information security are projected to present considerable challenge to the global ICT industry over the forecast period.
Differing government regulations in every country, as well as regulatory compliances for different ICT industry segments across the global stretch are projected to hamper the industry growth. For instance, legal obligations for processing of personal data differs across the U.S. and Europe. Under EU regulations, personal information can be collected only for a legitimate purpose under stringent conditions. Data Protection Directive 1995/46/EC is the main component of the EU data protection law. However, in the U.S., there is no all-inclusive law standardizing the processing and collection of personal information. Data protection in the country is regulated by state and federal rulings.
Regional Landscape
U.S. is the most mature market for the ICT industry. However, the industry in the country is expected to witness steady growth owing to presence of major multinational firms, continuous innovations and consumer demand for advanced technologies. Moreover, advent of V2V communication and 5G technologies in the country are expected to provide major scope for growth in the next few years. Cost saving through the advent of such technologies is among the major benefits.
China, India, Japan, Malaysia, and Indonesia have witnessed major economic growth over the last few years. Low manufacturing and service costs and favorable trade regulations in these countries are expected to provide major traction to the venturing investors. Thus, the Asia Pacific ICT industry is expected to register major growth over the near future. However, factors such as low corruption perceptions index (CPI), high communication costs and lack of technology skills in emerging economies are expected to hamper the market growth in these economies. Moreover, poor IT infrastructure is likely to hinder the growth prospects in these regions.
Industry Background
IBM, Microsoft, SAP, Oracle, Cisco, Apple, Samsung, Google, HP, Accenture, TCS and Amazon are among the top industry participants. The industry growth is driven by collaborative undertaken by key players to develop innovative products and technologies. R&D and product launches are also expected to strengthen the position of companies in the global industry. Mergers and acquisitions by players with the goal of forward integration, and business expansions are also predicted to strengthen their presence in the industry. For instance, AT&T entered a definitive agreement for the acquisition of Time Warner that was worth over US$ 85 billion, in October 2016. This was to help the company gain a strong foothold in the media and communications market.
Published Date : Jun 2023
Training is teaching or developing one’s skillsets and knowledge that relate to specific useful competencies. Training has a specific goal of improving person’s capabilities, productivity, and performance. By properly training their employees, organization... View more
Published Date : Jun 2023
Livestock monitoring enables farmers to keep an eye on their animals’ movements, location and behavior. It helps them prevent disease outbreaks, optimize grazing patterns and manage the use of feed resources and water. It also helps them improve the quality of m... View more
Published Date : Jun 2023
In the world of IT, infrastructure is the hardware that allows computers to function. This includes servers, hard drives and wires that connect devices. Before cloud computing became an option, organizations had to invest heavily in the equipment necessary to host app... View more
Published Date : Jun 2023
Light fidelity (Li-Fi) is the wireless communication between devices using light signals. It has several advantages over traditional Wi-Fi, such as lower power consumption, security, and range. It can be used in buildings, cars, and other mobile objects to send data o... View more
Published Date : May 2023
A learning management system is software that is used to provide educational courses and training programs as well as for reporting, tracking, documentation, and administration. The execution of current UI, gamification, portable prepared highlights and social reconci... View more
Published Date : May 2023
Collaborative robot or cobot are the robots that have the ability to collaborate with humans, and to enhance the human capabilities. There are various advantages of using collaborative robot such as it is easy to program, easy to install, and are flexible, in terms of... View more
Published Date : May 2023
Supervisory control and data acquisition (SCADA) is used significantly in various end use industries, as this technology helps enterprises to supervise and monitor industrial processes and control processes from remote locations. It also helps to establish better and ... View more
Published Date : May 2023
Soft starters are a type of motor starters that make use of the voltage reduction technique for reducing the voltage in the starting process of the motor. These devices provide a gradual increase of voltage during motor starting. Using soft starter can prevent all typ... View more
Published Date : May 2023
Video streaming refers to a technology that can transfer video files with the help of video streaming software. In video streaming, the media file is being played on the consumer’s device, which is transmitted from a remote location. Video streaming software has... View more
Published Date : May 2023
Rising health and safety concerns is expected to boost the global emission monitoring system market growth over the forecast period. Air pollution is one of the major global environmental problems and affects a large population across the globe. According to the World... View more
Published Date : May 2023
Power tools are equipment powered by additional power sources such as battery and electric motors. Power tools are used for various applications in various industries such as construction industry, manufacturing, and others. Moreover, power tools are used for various ... View more
Published Date : May 2023
Aerostat radar systems, which are similar to radars, are used in the Aerostat System, a low-level surface-to-air missile defense system. Surface-to-air missiles, aerial bombardment of ground targets, tracking of enemy troop movements, weather atmospheric tracking, and... View more
Published Date : May 2023
The global carbon credits provide business with a verified method to balance unavoidable carbon footprint by directly supporting projects that are proven to reduce carbon emissions. One Carbon Offset/Credit represents the reduction of greenhouse gases equal to on... View more
Published Date : May 2023
Emergency management is a branch of mass notification systems, which deals with emergency management and monitoring. An emergency management system has many sub-branches which include disaster management, security management, and civil protection. These emergency mana... View more
Published Date : May 2023
Smart mining is a new type of mining that mine in a variety of ways to minimize its impact on the environment such as longwall mining, mountaintop removal mining, dredging, highwall mining, block caving. There are three main areas of the mining industry which ar... View more
Published Date : May 2023
Fluid conveyance is a one-of-a-kind application with numerous complications that necessitate careful management. Understanding the nature and size of the transport system, in addition to taking into account speed, fluid density, lubrication, and slip, are the primary ... View more
Published Date : May 2023
High performance computing (HPC) is an umbrella term that refers to a broad range of computing systems and services that deliver accelerated speeds in areas like AI, big data analytics and more. These solutions are used in a wide variety of research labs and businesse... View more
Published Date : May 2023
The Internet of Things (IoT) is a network of physical devices that are connected and can exchange data with other devices and systems over the internet. An IoT device is any wireless sensor, software, or actuator... View more