The Information Technology (IT) industry has long been a driver of innovation and economic growth, constantly evolving to meet the changing needs of businesses and consumers alike. As we progress into the digital age, certain segments of the IT industry are poised for remarkable growth.
Let’s delve into the forecasts for IT industry growth from 2018 to 2023, with a particular focus on the “Emerging Tech” sector, which encompasses transformative technologies like Internet of Things (IoT) software, big data/analytics, and Augmented/Virtual Reality (AR/VR).
The IT industry has always been characterized by rapid innovation and adaptability. From 2018 to 2023, the IT industry as a whole is expected to exhibit steady growth, underpinned by several key segments. However, it’s the “Emerging Tech” sector that shines the brightest on the growth horizon.
This encompasses cutting-edge technologies like IoT software, big data/analytics, and AR/VR. The projected growth rate of 104% from 2018 to 2023 indicates the immense potential and transformative power of these technologies. The continued demand for software solutions across various sectors is expected to maintain a robust growth rate of 42%. The growth forecast of 26% signifies the ever-increasing demand for data storage, processing, and management, driven by the surge in data-driven decision-making.
The forecasted growth rate of 20% reflects the ongoing need for robust communication infrastructure and services to support the digital economy.
The IT industry’s growth from 2018 to 2023 paints a picture of resilience and adaptability. While the sector as a whole is on an upward trajectory, it’s the “Emerging Tech” segment that captures our imagination with a forecasted growth rate of 104%.
This growth is underpinned by values such as innovation, efficiency, data utilization, connectivity, and enhanced user experiences.
