1. Market Research

Information Technology Global Market Briefing 2016

  • April 2016
  • 22 pages
  • TBRC Business Research
Report ID: 3783848

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The information technology (IT) industry deals with the application of computers, computer peripherals and telecommunications equipment to store, retrieve, transmit and maneuver data. It involves computer networking, broadcasting, systems design services and information distribution technologies like television and telephones. Information technology is applied in every aspect of economies, government and society. It can be used in businesses, for communication including telecasting, for education, transportation, agriculture, mining, banking and advertising.
The total value of the information technology sector globally in 2015 was $XX billion. Related to a world population of more than XX billion in 2015 this equals about $XX per person per annum. Given that World Domestic Product was approximately $XX trillion in 2015, the market makes up about XX% of the global economy. The IT industry is connected to almost all industrial sectors. This has led to the creation of multitudes of IT-related jobs across the world. Globally, around XX million Information and Skilled Technology workers were there in 2014. Outsourcing and off-shoring of IT production has also led to the creation of employment opportunities in many developing economies, especially in India and China.

In the last few decades information technology has changed the way every industry operates. Businesses, hospitals, education institutions and even governments have revolutionized their practices. Companies are able to produce and sell their products or services more effectively with the use of information technology. The Internet has integrated the world. It is the key technology underpinning globalization, by making communication exponentially faster than the conventional means of communication.

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