Over the past few decades, Information and communications technology (ICT) has played a pivotal role in the global economy. With the offset of COVID-19 and the growing popularity of remote work, of course, the industry’s impact has further intensified.
Next Big Market for ICT Businesses
As more and more organizations embrace the remote-first or hybrid approach, ITC keeps empowering decision-makers to the onboard new workforce in a way that goes beyond physical and geographical barriers.
These new industry trends have inevitably offered fertile ground for new technologies to emerge. Among these, we find an increased reliance on IoT, AI, and 5G solutions.
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As the business landscape keeps being shaped by digital acceleration, ITC is bound to expand beyond its current applications. In fact, by 2023, the ITC industry is projected to reach a size of six trillion dollars in the US alone.
Similarly, the Asia Pacific is also forecasting an increased reliance on Information and Communication Technology, with China being the leading investor in the sector.
Europe’s ICT market is also expanding at an incredible rate. So much so, the economic area has recently experienced a shortfall of 700,000 ITC professionals.
For this reason, the EU has taken into upon itself to invest in STEM professional training to maintain healthy replacement levels – an opportunity that will see a growth in female representation in the IT field.
The ICT Development Index has also reached new heights in the LATAM region, with Uruguay leading with a 7.16-point score as early as 2017.
Finally, the African continent is also projected to increase its reliance on ITC solutions, with Information and Communication Technologies being the most relevant digital trend in the region.
Although clear signs of ITC growth are documented globally, the US market is projected to undergo the most stable expansion between now and 2025.
ICT Solutions Are Here to Stay
Initially coined to refer to essential unified communication devices such as telephone landlines and wireless signals, ITC has grown to encompass all necessary enterprise software, storage, middleware, and audiovisual allowing user to access, transmit, and manipulate information.
In this ever-evolving context, global companies big and small are bound to invest in solid ICT infrastructure to conduct virtually all aspects of their internal and external operations.
Information and Communication Technology supports companies across all industries in their quest for elevated productivity levels, seamless workflow, and outstanding customer service.
From cloud computing to physical hardware and point of sale, everything can be improved by a sturdy, reliable ITC infrastructure. No matter where you are in the world or the size of your company, ITC can make or break the future of your business.ca