global it industry growth

- Amid the COVID-19 crisis, the global market for SMB IT Spending estimated at US$610 Billion in the year 2020, is projected to reach a revised size of US$823.9 Billion by 2027, growing at a CAGR of 4.4% over the analysis period 2020-2027. The global software products market is expected to grow from $930.93 billion in 2020 to $968.25 billion in 2021 at a compound annual growth rate (CAGR) of 4%. Additionally, the market growth can be attributed to the advent of fourth industrial revolution and expansion of IIoT. The global information technology market grew from $8,384.32 billion in 2021 to $9,358.51 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The global toys market reached a value of US$ 156.5 Billion in 2021. The global IT industry is projected to reach $5.2 trillion in 2020, with global spending growing 3.7% According to the study, the IT services sector will grow by 8.2% per year between 2015 and 2019; the software sector is expected to increase to 7.2% per year, while the hardware industry is expected to grow less: 3.2% every . The global Information Technology industry encompasses the sectors of hardware, software and services, telecom, and emerging tech including 'as-a-service' solutions under the umbrella of the Internet of Things (IoT) and automating technologies. This share is expected to increase to ten percent by 2025. Worldwide IT spending will hit $4.47 trillion in 2022, according to new data from Gartner. Management Consultants. ITL World has also consecutively been rated as the 5th most powerful Travel Management Company in the Middle East amongst several other industry recognitions. The global population has grown from 1 billion in 1800 to 7.9 billion in 2020. Despite this global crisis, the revenue of the IT Industry was calculated at around USD 190 Billion for 2020-21, and it is expected to reach around USD 300-350 Billion by the year 2025. Population growth is the increase in the number of people in a population.Global human population growth amounts to around 83 million annually, or 1.1% per year. Home Reports Global IT Market - Industry Analysis, Growth, Share, Size, Trends, Key Regions And Forecast 2028. Findings of the survey conducted by NASSCOM indicate that the total value of outsourcing to India ($ 17.2 billion in 2004- 05) is as much as 44 per cent of the worldwide total. As per this research report, Global Automotive Industry is expected to grow with a CAGR of 3.71% from 2020-2030. The global IT services market is expected to reach $1.3 trillion this year. Business and technology consulting spending, specifically, is expected to grow 10% in 2022. Following years of growth, ICT spending will remain relatively flat in 2020 due to the COVID-19 pandemic. The growing popularity of cloud based software and rising concerns of . . The IT industry is also impressively robust. 9. The base year considered for the study is 2020, and the market size is projected from 2020 to 2028. The management consultants industry has been steadily growing since the past decade globally. According to our (LP Information) latest study, the global IT Training market size is USD million in 2022 from USD 7668 million in 2021, with a change of % between 2021 and 2022. However, IDC estimates that global IoT spending will be back on track for a double-digit growth rate in 2021, to mount a CAGR of 11.3% over the 2020 to 2024 forecast period. By investing in cloud software to cut costs, companies avoid political and economic risks. Oct 14, 2022 (The Expresswire) -- The global Handheld Surgical Instrument market size was USD 3928.5 million and . This was a +27% increase from the same period last year. The revenue is further expected to grow in the coming years with an accelerating growth rate and expected to reach 350 billion US dollars by 2025. The market size (especially export) of the IT industry has grown manifold from approx. The United States is the largest tech market in the world, representing 33% of the total, or approximately $1.8 trillion for 2022. By 2020, each person had an average of four connected devices and by 2030, we'd have 15 devices each. The global cyber security market was valued at USD 139.77 billion in 2021. The global IT Training market size will reach USD 12190 million in 2028, growing at a CAGR of 6.8% over the analysis period. The global airline industry market is projected to grow at a CAGR value of 25.5% from 2022 to 2027. The global IT asset management (ITAM) software market was valued US$ 955.6 Mn in 2019 and expected to grow at a CAGR of 6.9% over the forecasted period 2019-27. 1 . Much like AI, IoT is found practically anywhere in the modern world. Around 35-38% of tech organizations are likely to improve or enhance their IT operations and infrastructure due to the COVID-19 outbreak. According to Gartner estimates, IT spending in India is expected to increase to US$ 101.8 billion in 2022 from an estimated US$ 81.89 billion in 2021. The growing popularity of cloud based software and rising concerns. This information technology (IT) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. According to Data Report January 2022 estimates, 5.31 billion individuals globally are unique mobile phone years and approximately 4.95 billion individuals are internet users. The MarketWatch News Department was not involved in the creation of this content. The global COVID-19 pandemic has been unprecedented and staggering, with security solution experiencing higher-than . [129 Pages Report] Check for Discount on Global IT Spending in Transportation Industry Research Report, Growth Trends and Competitive Analysis 2022-2028 report by QYResearch Group. Industry Growth Insights published a new data on "IT Market". which is fuelling the IT spending market growth. The research report is titled " . In 2019, Deployment of IT for network management have become the best practices to bring and automate all business operations into a single and simple solution. The export revenue from this industry (excluding e-commerce) has been estimated at close to $ 178 bn in FY2022. The industry's leading producers are . According to the reports published by Next Move Strategy Consulting, the Global 5G Technology Market size has been valued at USD 5.53 billion in 2020 and shall witness an elevation of USD 620.72 billion by 2030, with a growing CAGR of 58.6% from 2020-2030. Gartner forecasts that the IT services segment - which includes consulting and managed services - is expected to have the second highest spending growth in 2022, reaching $1.3 trillion, up 7.9% from 2021 (see Table 1). Explore detailed TOC, tables and figures of Global It Industry. Furthermore, the price of jet fuel is expected to stay relatively stable over . Increased use of digital gadgets and smart-phones will boost 5G's market growth. It persevered through the U.S. economy's slow recovery, growing from an annual value-add of $835 billion in 2008 to $1,480 billion in 2017an . The stay-at-home trend remains relevant and double-digit growth rates are observed across IT hardware and accessories. Looking forward, IMARC Group expects the market to reach US$ 87.3 Billion by 2027, exhibiting at a CAGR of 3.9% during 2022-2027. 67 billion US dollars in 2008-09 to 191 billion US dollars in 2019-20. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of . The market is projected to grow from USD 155.83 billion in 2022 to USD 376.32 billion by 2029, exhibiting a CAGR of 13.4% during the forecast period. Table 1. Healthcare IT Market size was valued at more than USD 261 billion in 2021 and is primed to grow at over 14% CAGR from 2022 to 2030. Communication services, which accounted for $23.6 billion of the $102 billion total, are also expected to contract this year by 0.4 per cent, again a slower rate than in 2020. Mar 18, 2022 In 2021, the global information technology (IT) industry's growth could be impacted positively by reaching new customer segments, whereas continued COVID-19 effects would still. Worldwide IT spending is projected to total $3.9 trillion in 2021, an increase of 6.2% from 2020, according to the latest forecast by Gartner, Inc. Worldwide IT spending declined 3.2% in 2020 as CIOs prioritized spending on technology and services that were deemed "mission-critical" during the initial stages of the pandemic. The global IT professional services market size was valued at USD 777.28 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 11.2% from 2022 to 2030. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. ITL World | 10,071 followers on LinkedIn. Population growth - Wikipedia. After the speed bump of 2020, the industry is returning to its previous growth pattern of 5%-6% growth year over year. The global information technology market is expected to grow from $7850.57 billion in 2020 to $8370.95 billion in 2021 at a compound annual growth rate (CAGR) of 6.6%. Pixabay/Public Domain. Total general computing power will see a tenfold increase and reach 3.3 ZFLOPS, and AI computing power will increase by a factor of 500, to more than 100 ZFLOPS. Mark Haranas. The global IT industry continues to show growth year after year, with the software market expanding at a whopping 8% per annum. Instead of managing an immediate crisis, they can lay solid foundations for future innovation and growth. Industry Overview. The global IT spending market attained a value of around USD 3.5 trillion in 2020 and expected to grow in the forecast period of 2022-2027 at a CAGR of nearly 3.5% to reach USD 4.3 trillion by 2026. . The global IT Support Services market research study examines the market's size, share, segmentation, revenue, geographic areas, and forecasts through 2029 in great detail. Also, it is expected to reach a value of $8 trillion by 2022. global economic growth, world over. The size of this market is expected to increase to USD xx.x million by the year 2028, while growing at a Compounded Annual Growth Rate (CAGR) of x.x%. As per the Seagate Technology PLC, the amount of data produced globally is projected to reach 47 zettabytes and 163 zettabytes in 2020 and 2025, respectively, from 12 zettabytes in 2015. Its timely transition to remote working environments assisted in maintaining . According to NASSCOM, the industry is expected to register a growth of 30 to 32 per cent in the near future. At the start of 2022, many of these issues remain front and center for technology companies, with one important difference: Leaders now have an opportunity to address these challenges more deliberately and purposefully. Global IT Portfolio Analysis Software Market Analysis to 2030 is an in-depth and specialized study that focuses on global business trends analysis. The IT-BPM industry's (excluding e-commerce) total revenue stood at $227 bn in FY2022. Globally, the increased IT spending, coupled with the widespread adoption of software-as-a-service and increased cloud-based offerings, indicates the demand for IT services in the industry. The global software & services spend stood at $1.7 trillion in 2021, growing at 8.7%. Largest contributor in this industry is the US which represents 32% of the total, or approximately $1.7 trillion for 2020. The global IT retail market recorded nearly $63.9bn (eds: 57bn) in the first half of 2021 (excluding North America). The market is projected to grow from USD 11.84 billion in 2021 to USD 26.18 billion in 2028 at a CAGR of 12.0% during the 2021-2028 period. . Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis. The global healthcare IT market is projected to reach USD 821.1 billion by 2026 from USD 326.1 billion in 2021, at a CAGR of 20.3% during the forecast period. Global Offshore IT Services Market: By Type of Industries Served Based on the type of industries serving, the market has been categorized as BFSI, healthcare, education, travel and hospitality, telecom, retail & e-commerce, logistics, media & entertainment, and others. According to National Association of Software and Service Companies (Nasscom), the Indian IT industry's revenue touched US$ 227 billion in FY22, a 15.5% YoY growth. The global IT training market reached a value of US$ 70.2 Billion in 2021. Global Information Technology Market Trends, Statistics, Growth, and Forecasts The global information technology market will grow at over 3.5% supported by the double-digit growth in emerging technologies. The war between these two countries has led to economic sanctions on . While traditional ICT spending is forecast to broadly track GDP growth over the next decade, the overall industry will be catapulted back to growth of more than 2x GDP as new technologies begin to account for a larger share of the market. With an improved IT infrastructure, threats related to data (data breaches) are also on the rise. In terms of FDI inflow, the computer software and hardware sectors attract the second highest FDI. The convergence of hardware, software and services is creating new markets, and we are witnessing a global paradigm shift from hardware to software. The market is expected to. The global IT industry forecasted to reach $5.2 trillion in 2020 which is almost 3.7% growth rate. The domestic market, according to NASSCOM, grew by 24 per cent. The report has covered the regional analysis for the Americas, Asia Pacific & Oceania, Europe and Middle East & Africa. Emergence of 5G, Blockchain, AR, and AI . The worldwide airline sector is expected to grow in the next few years, owing to rising disposable income, rapidly growing middle class, and increased travel demand. October 21, 2021, 01:05 PM EDT. US +1 424 253 0946 UK +44 203 239 8187 Healthcare Aerospace & Defence Agriculture Automations Chemicals & Advanced Materials Food & Beverages Information & Communication Technology Oil & Gas Power & Energy Semiconductor & Electronics Biotechnology Building and Construction Automotives Global IT Services Market size is expected to reach $1123.57 billion by 2025, growing at a CAGR of 8.02% during 2020-2025. The Global IT Services Market size is expected to reach $1123.57 billion by 2026, growing at a CAGR of 8.02% during 2021-2026. The market is. India's digitally skilled pool has grown over the period and accounted for around 75 percent of global digital talent. Lucintel, a leading global management consulting and market research firm, has analyzed the global IT services market and presents its findings in "Global IT Services industry Market 2012-2017: Industry Trend, Profit, and . The global IT services market grew from $3,471.35 billion in 2021 to $3,938.75 billion in 2022 at a compound annual growth rate (CAGR) of 13.5%. Growth in hardware, software and services market is driven by growth of the cloud and mobile market. View Global Tech Industries Group, Inc.'s Industry trends, charts, and more. Get more details on this report - Request Free Sample PDF With recent integration of advanced technology in healthcare, information technology (IT) has become a vital . According to the United States Department of Health and Human Services, healthcare IT is defined as the application of information processing involving both computer hardware and software that deals with the storage, retrieval, sharing, and use of healthcare information, data, and knowledge for communication and decision-making. In India, the IT industry contribute 7.9% of the GDP The Global IT Services Market size is expected to reach $1123.57 billion by 2026, growing at a CAGR of 8.02% during 2021-2026. The three components of the IT sector in Poland we mentioned before showed some exciting prospects in a Euromoney survey. ET IT Consulting Service Market Global Industry Analysis by Size, Share, Growth Opportunities, Trends and Forecast 2022 - 2026 Published: Sept. 22, 2022 at 3:35 a.m. "Emerging tech", which includes fields like IoT software, big data/analytics, AR/VR, etc., is expected to see the most growth, with forecasts suggesting that the sector will grow by 104 percent. From a minuscule 0.4 percent in 1991-92, the IT industry contributed around eight percent in 2017-18 to the total GDP of India (Graph 2). The ICT industry is expected to grow 3.8% in 2015 over 2014 according to the International Data Corporation (IDC), the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. The market is forecast to reach an estimated US $1,147 billion in 2017 with a CAGR of more than 5% during 2012-2017. BFSI segment is foreseen to lead. "Geopolitical disruption, inflation . The prime objective of this report is to help the user understand the market in terms of its definition, segmentation . Posted 4:37:05 AM. In addition, as per The Mobile Economy 2020 estimates, the unique mobile phone users are expected to reach 5.8 billion by 2025. Deloitte Global predicts that large global technology firms, on average, will reach nearly 33% overall female representation in their workforces in 2022, up slightly more than 2 percentage points from 2019 (figure 1). The growth in this market is mainly driven by government mandates & support for healthcare IT solutions; rising use of big data in healthcare; high returns on investment associated with . Based on our analysis, the global market exhibited a significant growth of 11.2% in 2020 as compared to year-on-year growth during 2017-2019. The technology industryor at least its largest playerswill likely continue to close the gender gap in the year ahead.