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.
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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Research
Ankur
Gupta, Head Marketing & Communications
+91-9015378249
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