Information and Communication Technology or ICT is generally a combination of Information technology (IT) and digital telecommunication. Information technology focuses on computers and related devices, and digital telecommunications includes internet, cellphones, and other digital networks. It plays an important role in region’s economic growth. It consists of electronic devices and associated human interactive materials that enable the users to employ them for extensive range of teaching & learning processes.
According to study, “Global ICT Investment Trends in Telco/Service Market 2019 by Manufacturers, Countries, Type and Application, Forecast to 2024” the key companies operating in the global ICT investment trends in Telco/Service Market are China Mobile, China Telecom, Huawei, Cisco, China Unicom, Oracle Corp., IBM Corp., Microsoft Corp., Dell Inc., Google, HP.
Based on type, ICT investment trends in Telco/Service market is segmented into IT services, software and hardware. IT services include networks, computing, infrastructure, data synchronization, data storage, monitoring, office productivity, content management, business automation and others. Software includes programming software, system software and application software. Additionally, hardware includes input devices, output devices, memory/storage devices and processing devices. Based on technologies, market is segmented into computer technology, information technology and communication technology. In addition, based on application, market is segmented into small & medium-sized enterprise customers and large enterprises.
The ICT investment trends in Telco/Service market is driven by growth in Internet of Things (IoT), followed by rise in investments in manufacturing & transportation industries, growth in combination of government’s efforts to increase penetration in rural areas, rise in internet usage, rapid increase in smartphone sales and surge in aggressive smart city initiatives, increase in innovative technologies such as robotics, Artificial Intelligence (AI), Social Media, Mobility, Analytics and Cloud (SMAC), Augmented reality (AR)/Virtual reality (VR), growth in telecom sector, rise in digital transformation, increase in research & development (R&D) activities and growth in traditional platforms such as mobile, cloud, social and big data/analytics. However, lack of investment and skills and rise in government regulations may impact the market. Moreover, increase in proportion of spending targeted at new categories is a key opportunity for market.
Based on geography, the Asian-Pacific region holds major share in ICT investment trends in Telco/Service market owing to rise in small & medium size enterprises, increase in availability in major cities of high-quality dedicated telecommunication infrastructure and growth in young population & increase in urbanization in the region. In upcoming years, transformation of traditional businesses through internet technology and Chinese enterprises’ involvement in ‘Belt and Road’ creativities to enter foreign markets will become the main driving forces for development of China’s domestic ICT market. The transformation of traditional productions by integrating ICT technologies will push forward the application & development of industry sectors for instance mobile internet, big data, cloud computing, Internet of Things (IoT), and other emerging technologies, and lead to the rapid growth of intelligent terminals along with communication services. The European and North-American regions are expected to witness higher growth rate due to boost in individual empowerment and growth in digitalization that can expand choices and lower transaction costs in social & economic interactions over the forecast period. It is predicted that future of the market will be bright on account of growth of digital economy, favorable policy support and improvement in livelihoods by allowing users to create, access, utilize and share information during the forecast period.
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Ankur Gupta, Head Marketing & Communications