Information & Communication Market Research
Information and communication technology, or ICT, has become increasingly important in the modern world over the last decade. Our world has become accustomed to the advantages of information and communication technology, which has changed the way people live and communicate with one another. People have integrated ICT into their daily lives, such as making phone calls, withdrawing cash from an ATM, and browsing the internet on a touch screen. Not only has the information and communication technology (ICT) industry, has changed people’s lives, but it has also changed the way companies work, revolutionizing the corporate infrastructure. The educational sector has also benefited from the use of Information and Communication Technology development. The ICT industry has become a significant factor in the rising global economy like education and the corporate sector are also linked to the economy.
Computers, the internet, and even telephony are only a small component of ICT. ICT systems can be classified into two categories. The first are those who rely heavily on traditional telecommunication networks to provide information customized to the user’s preferences and needs through on-demand communication. It is up to the human user to determine how the data is interpreted and whether it is converted into knowledge. The second type of ICT implementation is human-independent, in which data is processed and decisions are taken based on predetermined parameters without the need for human interference.
Today, information and communication technology development business model are having far-reaching implications across a broad range of societal realms. It has prompted service providers, and policymakers to focus on concerns such as economic productivity, intellectual property rights, data security, and information affordability and access.
Information technology has had a major effect on the corporate sector by reducing the significance of distance. The geographical distribution of work has evolved dramatically in many industries. For example, some software consulting companies in the United States have examine that sending projects to India or other countries with lower wages can help them overcome a tightly local market for software engineers. Furthermore, such strategies can take benefit of time differences to allow vital tasks to be worked on nearly 24 hours a day, seven days a week.
ICT has received a lot of attention in past years because it has played a major role in supporting economic development and improving developed countries by impacting businesses worldwide. The Internet is one aspect that has had a huge effect on the global economy. The Internet has reduced the cost of transport and enabled consumers to shop from the comfort of their own homes. Furthermore, the Internet allowed businesses to advertise and sell their goods and services globally. By integrating data center, information and communication technology industry has also supported developing nations in reducing poverty and increasing economic development.
North American ICT Market Research
In the field of information and communications technology, the United States has long been the undoubted leader. The federal government’s position in promoting innovation in the information and communication technology industry has been crucial in facilitating a successful ICT research environment. This is achieved both through direct federal investment in ICT market research and through promoting commercialization and private research investment. Maintaining US leadership in the ICT sector also necessitate the federal government’s active participation in developing a mechanism for enabling private R&D investment, directing federal funds to ICT market research/ICT market analysis in targeted areas, and supporting broadband deployment.
COVID has also increased reliance on digital connectivity and stressed the importance of networking technology, such as 5G. Before the pandemic, the ICT industry analysis in the United States was projected to add half a million new jobs over the next decade, with an average employment growth rate of 12%. A move to open virtual 5G communications networks that enable software to replace specialized hardware is expected to increase competition and open up new opportunities for software engineers, cloud programmers, ICT professionals, and entrepreneurs, particularly among small and medium-sized businesses.
Through various initiatives of expertise, the US is deploying action, resources, and alliances with the private sector to increase global connectivity. The private industry continues to account for a large portion of total research funding and operation in the United States, accounting for approximately 70% of all research investment. In terms of the industry, there are fewer US-based companies in the top 250 ICT companies this year than in previous years.
Europe ICT Market Research
The ITU reports that total telecommunication investments in Europe totaled USD 60.8 billion in 2018, accounting for 24.8% of total European telecommunication revenues. In 22 of the countries where data was available, total telecommunication revenues and investments increased from 2017 to 2018.
Telecom services accounted for 41% of total ICT spending in Central and Eastern Europe in 2019, led by hardware (34%), and IT services (13%). In terms of ICT investment, Russia (USD 47 billion) is the largest market, followed by Poland (USD 20.4 billion) and the Czech Republic (USD 10.9 billion).
In terms of company size, large companies (those with more than 500 employees) accounted for half of all ICT spending in 2019. Medium-sized companies (100-499 employees) were responsible for around 23% of spending, followed by small companies (17%) and small office/home office (nearly 10%). Many innovative technology startups are funded by the government in the early stages of their growth in the CEE region.
APAC ICT Market Research
South Korea has developed itself as a global leader in the information and communication technology industry, ranking second in the Bloomberg Index of Most Innovative Nations 2020. Samsung Electronics, LG Electronics, SK Hynix, and Naver are among the world’s leading electronics and IT corporations, with the nation’s cutting-edge ICT technology boasting the world’s highest internet speeds. Korea is expected to retain its status as a global ICT powerhouse by investing aggressively in cutting-edge technology such as 5G networks, AI, and Big Data.
Due to its large ICT industry base, large semiconductor manufacturing centers, and advanced manufacturing capability, Taiwan is a well-known ICT manufacturing hub. Because of these advantages, it has been able to rapidly grow several businesses that provide advanced ICT-related products and services. Many Taiwanese companies provide Original Design Manufacturer services to ICT suppliers in the United States. Others have built strong supply chains using US suppliers as intermediaries, enabling them to grow their businesses across Southeast Asia.
Singapore is the world’s most wired country, with a nationwide network of high-speed fiber optics and robust wireless connections. It is one of the most highly developed ICT markets on the planet. Singaporeans are highly connected passionate technology users, and prolific data consumers. Wireless broadband penetration was 190.5% in January 2020, while smartphone penetration was 158.7%. The Singapore government awarded Singtel and Joint-Venture Consortium, a joint venture between Starhub and M1, two 5G licenses in June 2020. By 2021, the two licensees are scheduled to begin deploying 5G services, with a national rollout expected by 2025.
Middle East ICT Market Research
The United Arab Emirates has taken steps to expand its product development, manufacturing, and software programming industries. More than half of all exports to the UAE in several sub-sectors, such as computer displays, and smartphones are eventually re-exported to other markets, making the UAE a re-export centre for consumer ICT products. As a result, the local IT industry is underdeveloped, enabling foreign firms to take advantage of market share.
Saudi Arabia is the Middle East’s largest information and communications technology (ICT) sector, with over 27 million customers and a large number of multinational businesses. Saudi Arabia’s ICT industry accounts for more than 55% of the Middle East market, respectively. The Saudi Ministry of Communications and Information Technology’s ICT plan for 2019-23 aims to expand the IT sector by 50% and raise the Saudi IT workforce to 50% by 2023.
Saudi ICT market growth is being driven by rising personal wealth and an increasing number of experts committed to achieving leadership in information and communication technology. Saudi Arabia has launched a 20-year ICT strategy to promote widespread adoption of technology and telecommunications across the country’s households and businesses.
ROW ICT Market Research
Brazil unveiled its National IoT Strategy in 2019, to advance the country’s IoT strategy through verticals such as smart cities, agriculture, manufacturing, and healthcare. By 2025, the nation is estimated to have spent USD 200 billion on IoT adoption. The COVID-19 pandemic is affecting investments around the board. According to IDC, IT sector investments in Latin America had dropped by more than USD 15 billion in 2020. Overall, IT spending in the region has decreased by 10%, from an initial estimate of a 7% rise (before COVID-19 in 2020) to a 4% or more decrease.