Information and Communication Technology

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.

View More

Information and Communication Technology Published Insights

Coherent Market Insights Autonomous Mobile Robots Market

Published Date : Aug 2023

The Global Autonomous Mobile Robots Market has emerged as a transformative and rapidly expanding sector in recent years, revolutionizing industries across the globe. Autonomous mobile robots (AMRs) represent a groundbreaking technological advancement, equipped with th... View more

Coherent Market Insights Broadband Services Market

Published Date : Jul 2023

Unlike the old dial-up Internet, which required customers to call a specific phone number and wait for busy signals or slow connections, broadband offers an instant connection. It allows customers to surf the web at high speeds, download music and movies, connect with... View more

Coherent Market Insights Us Customer Communication Management Market

Published Date : Jul 2023

Customer Communication Management (CCM) software allows the organizations to effectively manage customer communications across various channels of media, encompassing email, printed documents, text messages, and web pages. CCM enhances the entire process of outbound c... View more

Coherent Market Insights Wireless Charging Market

Published Date : Jul 2023

Wireless charging, also referred to as inductive charging, is a method of transferring power without the use of cords, utilizing electromagnetic induction to supply electricity to portable devices. It is commonly employed for charging smartphones, tablets, and smartwa... View more

Coherent Market Insights Non Ionizing Radiation Emf Detection Measurement And Safety Market

Published Date : Jul 2023

Non-ionizing radiation is refer to electromagnetic radiation that does not hold enough energy per quantum to ionize molecules or atoms.  EMF detection refers to the measurement of surrounding electromagnetic fields. It is performed by using EMF meters. EMF detect... View more

Coherent Market Insights Business Software And Services Market

Published Date : Jul 2023

The business software and service industry offers an array of valuable tech tools to help consumer run their company more effectively. These software solutions are designed to automate internal and external company processes. They typically combine administrative syst... View more

Coherent Market Insights Business Process Outsourcing Market

Published Date : Jul 2023

In today’s fast-paced business environment, companies are always looking for ways to improve productivity and reduce costs. One way to do this is through outsourcing business processes. Business Process Outsourcing or BPO is the delegation of business tasks to t... View more

Coherent Market Insights Mobile Application Market

Published Date : Jul 2023

A mobile application is a software application developed specifically for use with a mobile device such as a smartphone or tablet. These mobile applications enable mobile devices to perform a number of tasks and functions on a small mobile device. There are various ty... View more

Coherent Market Insights Portable Thermal Imagers Market

Published Date : Jul 2023

Portable thermal imager is a device, which captures and creates an image of a targeted object by using infrared radiation emitted from the object this process is called thermal imaging. A portable thermal imager is also known as a thermo-graphic camera, infrared camer... View more

Coherent Market Insights Cable Management Accessories Market

Published Date : Jul 2023

The global cable management accessories market report provides a comprehensive analysis of the industry, highlighting key trends, drivers, restraints, opportunities, and market dynamics. The report offers insights into the current market scenario and future prospects ... View more

Coherent Market Insights Cloud Based Language Learning Market

Published Date : Jul 2023

The Global Cloud-Based Language Learning Market Report provides a detailed and comprehensive analysis of the cloud-based language learning industry on a global scale. The report begins with an executive summary, offering key insights into the market's performance, gro... View more

Coherent Market Insights Digital Impression System Market

Published Date : Jul 2023

Digital impression systems replace traditional physical impression techniques, such as using alginate or silicone materials, with advanced intraoral scanners and associated software. Digital impression systems utilize optical scanning technology to create a 3D digital... View more

Coherent Market Insights Data Center Networking Market

Published Date : Jul 2023

Data center networking is the method of establishing and communicating all physical- and network-based equipment and devices within a data center facility. Data center networking is extremely crucial in data center as it communicates all the data center resources toge... View more

Coherent Market Insights Mental Health Software Market

Published Date : Jul 2023

The Global Mental Health Software Market refers to the worldwide industry involved in the production, distribution, and sale of various types of Mental Health Software used in different applications. Mental Health Software are mechanical devices designed to control th... View more

Coherent Market Insights Automated Fare Collection System Market

Published Date : Jul 2023

The global automated fare collection (AFC) system market refers to the market for technology solutions and systems used to automate the process of fare collection and ticketing in public transportation networks. AFC systems are designed to streamline the payment proce... View more

Coherent Market Insights Wi Fi 6 Devices Market

Published Date : Jul 2023

Wi-Fi 6 technology is an advanced technology, which enables devices to connect to high-speed internet and provides features such as Orthogonal Frequency Division Multiple Access (a multiplexing technique used in wireless communication systems), Multi-user Multiple Inp... View more

Coherent Market Insights Telemetry For Water Networks Market

Published Date : Jul 2023

The telemetry for water networks market involves the application of telemetry technology to monitor and efficiently manage water distribution systems. Telemetry involves remotely measuring and transmitting data from sensors or monitoring devices to a central location.... View more

Coherent Market Insights Digital Signature Software Market

Published Date : Jul 2023

The global digital signature software market is projected to experience significant growth as organizations from various industries increasingly adopt digital transformation. This shift is motivated by the need for enhanced efficiency and security in document and tran... View more

Coherent Market Insights Smart Machines Market

Published Date : Jul 2023

Smart machines are intelligent devices that utilize machine-to-machine (M2M) technology to perform different tasks independently without human interference. These machines provide high accuracy while performing repetitive tasks even at high speed. Constant development... View more

Coherent Market Insights Mobile Ticketing Market

Published Date : Jul 2023

The global mobile ticketing market is a rapidly growing sector that has revolutionized the way people purchase, store, and redeem tickets for various services and events. The market is driven by several factors, including the increasing penetration of smartphones, whi... View more

© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.