IT&ICT
- The IT&ICT (Information Technology & Information and Communications Technology) industry is booming, driven by increasing digitalization across all sectors. Emerging trends are the following
- Cloud Computing: The cloud computing market is booming, offering businesses scalability, flexibility, and cost savings.
- Artificial Intelligence (AI) and Machine Learning (ML): AI and ML are transforming various aspects of IT&ICT, enabling automation, data analysis, and intelligent applications.
- Cybersecurity: As reliance on technology increases, so do cybersecurity threats.
- Internet of Things (IoT): The proliferation of connected devices will fuel the growth of the IoT market.
- Big Data and Analytics: The ability to collect, store, and analyze vast amounts of data is crucial for businesses.
Overview
- Market size:
- The global IT&ICT market is massive and constantly growing. Estimates suggest it reached a staggering $6.3 trillion USD in 2023.
- The predicted CAGR from 2023 to 2030 is 6.2%.
- Challenges:
- Cyber security threats
- Skill gap
- Data privacy concerns
- Digital divide