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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.
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engineering

Overview

market size of IT
  • 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

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