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.
The electronic access control (EAC) system is an approach of using electromechanical hardware to allow access to private premises. EAC system offers protection against terrorist attacks, violence, and vandalism in public areas such as educational institutions and city... View more
Mobile applications are at a stage where organizations consider them to be a vital part of the business. The adoption of mobile application testing solutions is increasing rapidly in IT markets worldwide. Furthermore, mobile application testing facilitates building ap... View more
A mass notification system (MNS) is a platform that sends one-way messages to inform employees and the public of an emergency. It allows users to broadcast notifications to groups or individuals such as clients, citizens, employees, and government officials. This is d... View more
Healthcare cybersecurity refers to adoption of cybersecurity solutions and services by healthcare organizations, in order to protect hospital and patient information from cyber-attacks and data breaches. There different segments involved in healthcare cybersecurity in... View more
Smart mining is the approach of using information, autonomy, and technology to attain enhanced safety, better productivity, and minimize operational costs. Smart mining includes Integrated Communications Technology (ICT) for all levels including mining operations to s... View more
Market Overview Fleet management refers to a process of enabling companies to streamline and coordinate work vehicles with an objective to reduce costs, provide compliance with government regulations, and enhance... View more
Collaborative robots or cobots are the robots, which have the ability to collaborate with humans and enhance the human capabilities. There are various advantages of using collaborative robots or cobots such as these robots are easy to program, easy to install, and cob... View more
Data visualization is a term that covers a wide range of applications such as rankings, dashboards, business intelligence, graphics, analytics, and big data. These are just a few of the technologies and concepts that use the notion of displaying data. It enables organ... View more
The substation inspection robots can move along a pre-programmed route, stopping near electrical and other thermography-sensitive equipment and aiming a Pan-tilt-zoom (PTZ) camera on it. The Pan –tilt-zoom (PTZ) camera's manual remote control option is activated... View more
Environmental sensors are connected objects that can provide a variety of information, including location, position, an individual's movements, and contextual elements that can be compared to data collected via sensors embedded on or implanted in an individual. The us... View more
The introduction of the fourth dimension (4D) to the third dimension (3D) is known as 4D printing technology. With the help of 4D, the created 3D object possess the capability to change its shape by itself over the influence of external stimuli such as heat, light, el... View more
A whistleblowing software is used to report any wrongdoing, misconduct, or unethical behavior to the concerned authority of an organization. Whistleblowing software offers unified and streamlined workflows across the whole organization. Moreover, whistleblowing softwa... View more
Die casting is a manufacturing method that uses reusable molds called dies to create geometrically complicated metal components. The metal, which is usually a non-ferrous alloy like aluminum or zinc, is melted in a furnace and then pumped into dies in a die casting ma... View more
Construction management software helps in project planning and scheduling in the construction industry. This is done by sequencing operations of the construction project and enabling effective use of the schedules created via a work breakdown structure. The features a... View more
Stock music is also known as production music or library music which can be license or authorize for customers to use music in television, film, and other media. The production music libraries own all of the copyrights of their music as compared to the popular and cla... View more
Legal case management software is a robust system that assists law firms in managing their day-to-day workflows and business operations. Legal case management software is a software designed to aid law firms client cases and records, billing and bookkeeping, schedules... View more
Gigabit technology is also referred as Gi-Fi technology. It is a wireless technology that allows wireless audio and video data transfer at up to 5 gigabits per second. Gi-Fi is a wireless transmission system that is ten times faster than other technologies such as Wi-... View more
Enterprise Performance Management (EPM) is the process of monitoring and improving business performance across the enterprise. An EPM system integrates and analyses data from various sources such as e-commerce systems, front-office and back-office applications, data w... View more