Information and Communications Technology Market

Goals

  • Provide an overview of the industry, including market size, trends, drivers, unmet needs and key players.
  • Identify outstanding market research reports (if any).

Early Findings

Overview

  • Global spending on information and communications technology (ICT) is projected to reach $4.3 trillion in 2020, with IT spending accounting for more than half of it.
  • The six categories with the highest five-year compound annual growth rates (CAGR) are application development and deployment (11.1%), applications (9%), infrastructure (8.9%), system infrastructure software (6.7%), project oriented (5.5%) and others (1.5%).
  • Among the key drivers for investment in the industry is a strong focus on customer experience and creating innovative products and services.
  • Some of key challenges for the industry are slow economic growths, weak investment, uncertainty in product expectations, protectionism and geopolitical tensions.

Insights and Trends

  • Very large businesses (more than 1,000 employees) will account for more than half of commercial ICT spending while small and medium businesses (SMBs) will account for 28%.
  • There is an increasing emphasis on digital transformation among SMBs. Those that are making investments in related technology are almost twice as likely to post double-digit growth in revenue compared to their indifferent counterparts.
  • Among the trends in communications technology is the IT convergence. IT insurgence into traditional cellular arenas was seen throughout 2019 and the trend is expected to continue.
  • Some of the top players in the market are Microsoft, HP, Cisco, Dell, WM, Ware, IBM, Intel, Oracle-Sun, CISCO and SAP.

Summary

The initial research has identified a few market insights, including global spending, growth rates and some top players in the market. There are a number of trends and segments within the market that may be further researched for details. The scope of this research is global.


Proposed next steps:

You need to be the project owner to select a next step.