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 Energy Management System Market

Published Date : Jul 2023

The Energy Management System (EMS) market encompasses a wide range of software and hardware solutions designed to facilitate efficient monitoring, control, and optimization of energy usage across various sectors. These comprehensive solutions have become indispensable... View more

Coherent Market Insights Distributed Acoustic Sensing Market

Published Date : Jul 2023

The Global Distributed Acoustic Sensing (DAS) market is a rapidly evolving and innovative market that harnesses the power of fiber optic technology to transform standard fiber optic cables into advanced sensing systems. DAS technology enables the continuous monitoring... View more

Coherent Market Insights Aquaculture Water Treatment Systems Market And Recirculating Aquaculture Systems Market

Published Date : Jul 2023

The global aquaculture water treatment system market and recirculating aquaculture system (RAS) market have witnessed significant growth in recent years. Aquaculture, the farming of aquatic organisms such as fish, shellfish and aquatic plants, is emerging as a sustain... View more

Coherent Market Insights Data Fabric Market

Published Date : Jul 2023

With its focus on accessing data from disparate systems, data fabric is gaining momentum as an alternative to traditional data warehouses and lakes. Companies need rapid access to data for analytics and other critical business activities. A data fabric addresses these... View more

Coherent Market Insights Total Carbon Analyzer Market

Published Date : Jul 2023

Total carbon analysis system is an advanced instrument that is used for determining the amount of initial inorganic carbon in water. This is accomplished by oxidizing all organic carbon to the form of CO2 (inorganic carbon), and then measuring the final con... View more

Coherent Market Insights Extended Warranty Market

Published Date : Jul 2023

Extended warranties are service agreements that increase the manufacturer's usual warranty duration for a product. They can apply to a wide range of goods, such as cars, appliances, and electronics. Typically, merchants, manufacturers, and insurance firms sell extende... View more

Coherent Market Insights Business Spend Management Software Market

Published Date : Jul 2023

Business Spend Management (BSM) is the collection of various business processes, such as Procurement, Invoicing, Expense Management, and Other Cash Disbursements, supported by software. Budgeting, inventory, contract lifecycle management, supplier management, strategi... View more

Coherent Market Insights Vapor Recovery Services Market

Published Date : Jul 2023

Vapor recovery is the process of recovering vapors from gasoline and other fuels so that they do not escape into the atmosphere. This is often done at gas filling stations to reduce potentially harmful explosive pollutants and fumes. Vapor recovery systems capture the... View more

Coherent Market Insights Multi Channel Communication Services Market

Published Date : Jul 2023

By managing flows, reducing latency, and reducing media dependencies, multi-channel communication enhances human communications, and helps to optimize business processes. Major market players are developing innovations like virtual reality meeting room solutions and i... View more

Coherent Market Insights Apparels Footwear And Leather Goods Afl Testing Inspection And Certification Tic Market

Published Date : Jul 2023

Global Apparels, Footwear, and Leather Goods (AFL) Testing, Inspection, and Certification (TIC) Market Study analyzes testing services such as physical testing, chemical testing, colorfastness testing, and other testing services; third-party audits an... View more

Coherent Market Insights Digital Transformation Market In Healthcare

Published Date : Jul 2023

The integration of telemedicine, Artificial Intelligence (AI), and blockchain technology for Electronic Health Records (EHRs), and AI-enabled medical devices is driving the Global Digital Transformation of The Healthcare Industry. The overarching objective of incorpor... View more

Coherent Market Insights India Content Delivery Network Market

Published Date : Jul 2023

India content delivery network (CDN) market is expanding rapidly. A content delivery network (CDN) is a collection of strategically placed servers spread out across a number of different regions. Its purpose is to quickly, reliably, and effectively deliver content to ... View more

Coherent Market Insights Australia Conveyor Maintenance Market

Published Date : Jun 2023

A conveyor system is a widely used mechanical device that transports materials or objects from one location to another. It serves as a vital component for companies to ensure efficient and timely product movement. Proper maintenance of conveyors is crucial due to the ... View more

Coherent Market Insights Embedded Security For Internet Of Things Market

Published Date : Jun 2023

Embedded security systems serve as a strategic approach to protect various software operating on embedded systems. These systems encompass a combination of hardware components and software that work together to fulfill specific security functions. They are utilized in... View more

Coherent Market Insights Mexico Car Rental Market

Published Date : Jun 2023

A company that rents automobiles to the general public for brief periods of time, typically ranging from a few hours to a few weeks, is known as a car rental, hire car, or car hire agency. It is typically arranged in a network of numerous local branches, the majority ... View more

Coherent Market Insights Uav Battery Market

Published Date : Jun 2023

UAV s are in high demand due to their wide range of uses in numerous industries, and the demand for batteries is directly related. Drones are increasingly being utilized in a variety of industries, including construction, agriculture, emergency response, mapping, law ... View more

Coherent Market Insights Telecom Towers Market

Published Date : Jun 2023

Radio masts and towers that hold telecommunications antennas are known as telecom towers. Depending on the range of the telecommunication antenna, they cover a large area and are precisely oriented at a specific angle. Telecom towers are constructed to withstand wind ... View more

Coherent Market Insights Internet Of Everything Market

Published Date : Jun 2023

Internet of Everything (IoE) refers to the system that enables billions of devices to connect with each other via technologies like Bluetooth, Wi-Fi, internet, LAN, WAN, etc. This inter-connectivity among the devices allows the development of ecosystem which can have ... View more

Coherent Market Insights Bulk Sms Marketing Services Market

Published Date : Jun 2023

Bulk SMS Services include sending numerous SMS messages to customers who are interested in a business's products or services. To reach target markets that have previously expressed interest in the company's products or services, many firms today employ bulk SMS servic... View more

Coherent Market Insights Enterprise Asset Management Market

Published Date : Jun 2023

From commissioning, designing, or purchasing physical assets to running, disposing of, maintaining, and replacing them, enterprise asset management (EAM) delivers a thorough perspective of a company's physical infrastructure across the course of its lifetime. The ente... View more

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