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.
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.
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.
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.
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.
System integration is an engineering process to combine various computational or software programs as one large system, in order to coordinate the processes. System integration ensures adequate functioning of each integrated software and provides a more user-friendly ... View more
Market Overview Smart agriculture or smart farming is a farming management concept that uses modern technology to increase the quality and quantity of agricultural products. Smart agriculture solution helps vario... View more
Market Overview Service lifecycle management is an all-inclusive method that covers the complete service lifecycle of a product. This includes numerous complex processes such as service parts management, repair m... View more
Precision agriculture (PA) is a farming management concept based on monitoring, measuring, and responding to inter and intra-field variability in crops. The primary objective of precision agriculture is to define a decision support system (DSS) for the entire farm man... View more
Crisis management is the process by which an organization manages a disruptive and unexpected event that poses a threat to the organization or its stakeholders. Crisis emergency and incident management platform is a novel concept that functions as a security measure a... View more
Market Overview Sustainability and energy management software a system database of information associated with financial data, energy, resources, and other important factors. These factors aid enterprises to monito... View more
Market Overview A walkie-talkie is a hand-held, portable, two-way radio transceiver, which is equipped with a microphone and speaker. A wearable digital wal... View more
Market Overview Work light refers to high-intensity light fixtures that are used to illuminate the stage for the benefit of technicians. Technicians use these light fixtures for a number of reasons. Portable lights... View more
Pro AV refers to an advanced audio-video system integration used for commercial purposes. Pro AV uses various components such as display components, camera, audio components, computer, controller, room scheduler, companion whiteboard, advanced options such as digital ... View more
RF die products are electronic devices which are used to receive and transmit signals between two devices. There are different types of RF die products such as power amplifiers, filters, frequency multiplier and attenuator. Power amplifiers are the most common type of... View more
Wi-Fi is the family of wireless networking technologies that are commonly used for local area networking of devices and internet access. Wi-Fi technology enables wireless connectivity on radio frequencies between 2.4 GHz and 5 GHz. Wi-Fi technology is being increasing... View more
A parking management system automates a car parking system by optimizing parking space and making the process efficient. It provides real-time car parking information such as available slots display, vehicle & slots count, reserved parking, easy payments, pay-and-... View more
Market Overview A storage area network refers to a high-speed network, which interconnects and presents a shared band of storage devices to various servers. SANs are typically helpful in backup and disaster recov... View more
Market Insight- Global Storage in Big Data Market Market Overview Big data storage refers to a compute and storage architecture that gathers and operates vast ... View more
Flight data monitoring and analysis (FDMA) is the process of analyzing recorded flight data, in order to enhance the safety and maintenance of flight operations. Currently, apart from using for safer flight operations, flight data monitoring and analysis is used for e... View more
Market Overview Data storage refers to recording information in a storage medium. There are different types of storage media are available including magnetic tape, optical discs, phonographic recording, DNA & R... View more
Market Insights- Global Kiosk Market Market Overview An interactive kiosk is a computer terminal that features specialized hardware and software that provides ... View more
Market Insight- Global IT Asset Management (ITAM) Software Market Market Overview Asset management software is a dedicated application used to track and record... View more
The RF (radio frequency) shielded test enclosure are the instruments that are used to detect the electromagnetic radio frequencies emitting from an electromagnetic product. These enclosures (isolated boxes) provide isolation to electromagnetic products from the unwant... View more
Q-TOF spectrometer refers to quadrupole time of flight mass spectrometer. Mass spectrometry is an analytical technique, which is used to identify unknown compounds/mass in the sample along with their chemical properties, and molecular structure. A mass ... View more