Information & Communication Technology Sector
One of the most dynamic and ever-evolving industries, the Information and Communication Technology sector plays a crucial role in the global economy. The growth of this industry is immense due to high demand in almost all commercial sectors in the world. The ICT sector consists of a wide range of sectors including hardware, software development, telecommunications, networking, web infrastructure, cybersecurity, e-commerce, Fintech, health tech, education tech, etc.
The ICT sector profoundly impacts various industries, including healthcare, finance, education, transportation, manufacturing, entertainment, and more. The sector's rapid growth is fueled by technological developments, increased connectivity, and a growing demand for digital solutions in our daily lives and business operations. As technology continues to evolve and expand its reach everywhere, the ICT sector is expected to remain a central force in shaping the future.
Information and Communication Technology Sector Report
Ranked as one of the largest industries in the world, the ICT market is forecasted to reach 6 trillion dollars by 2023. In the year 2020, the telecommunications category was ranked as the highest revenue-generating segment of the ICT sector while AR/VR and robotics ranked as the fastest-growing category.
The U.S. region accounted for almost 36% of the ICT sector. China is the second-largest digital economy in the world with USD 7.1 trillion in revenue. The total revenue of the EU’s ICT sector was over 631 billion Euros and was equivalent to 5.2% of the EU’s total GDP in 2020. Electronic components and boards were among the highest-selling ICT products which provided more than half of the total value.
According to recent reports, the U.S. region accounted for almost 36% of the global information and communication technology market share. The EU ranked second biggest whereas China ranked as the third biggest ICT industry in the world.
What Trade Exhibitions Can You Attend in the ICT Industry?
As one of the fastest-developing industries in the world, the information and communication technology industry hosts numerous exhibitions every year. Industry professionals from all over the world come together in these exhibitions and introduce their latest innovations to the world. They are an excellent source for learning new ideas and adapting to the changes in the industry:
GITEX Global: One of the largest tech shows in the world where the entire industry meets and showcases its latest innovations. The record-breaking tech event gathers the world’s leading tech protagonists, researchers, developers, investors, etc. It is an excellent platform to meet global leaders and change-makers in the industry. It will be held in Dubai between 16-20 October 2023.
TechCrunch Disrupt: A cutting-edge and advanced tech exhibition held in the U.S. The event gathers tech experts and businesses in climate/mobility, Fintech/DeFi, AI/ML, SaaS/Enterprise, privacy/security, and hardware/robotics. It is an ideal avenue for all tech enthusiasts and start-ups looking to innovate their businesses.
Teknologia: A renowned global technology event that gathers the biggest innovators in the industry. It is an ideal platform to meet investors, policymakers, tech innovators, and the biggest tech-related businesses. It is held in Finland at Helsinki Expo and Convention Center.
Which Sectors can Participate in the Information and Communication Technology Industry?
The technology sector is one of the most rapidly evolving and growing industries in the world. It is a vast and diverse industry with an extensive range of sectors that are introducing new technologies and innovations every year. The sectors that can benefit from tech exhibitions include internet provider companies, mobile e-services, Fintech, hardware, software development, e-commerce, biotechnology, cybersecurity, gaming, and entertainment, robotics and automation, transport technology, etc.
