The information technology (IT) industry deals with the application of computers, computer peripherals and telecommunications equipment to store, retrieve, transmit and manoeuvre data. It involves computer networking, broadcasting, systems design services and information distribution technologies like television and telephones.
The substantial reason for the growth of the market from $4 trillion in 2017 to $5 trillion by 2021 is the IT development in growing economies such as China and India as these countries are practising high levels of tech adoption.
Asia Pacific was the largest region in the market in 2017, accounting for around two-fifths of the market share.
The information technology (IT) market in The Business Research Company’s report is split into four segments: IT services, computer hardware, telecom, and software product. Telecommunications was the largest segment with half of the market share. IT services was the second largest segment with two-fifth of the market share. It was followed by software publishers with ten percent of the market share, and computer hardware with less than five-percent market share.
The USA was the largest country in the information technology market in 2017, accounting for one-fifth of the market share. This is due to the presence of large number of software and mobile application developers. The USA was followed by China and Germany as the next largest countries in the market.
The top five competitors in the market are AT&T, Apple, Verizon Communications Inc., China Mobile Ltd, and Microsoft. AT&T was the biggest player in IT industry in 2017, with revenue exceeding $160 billion. AT&T Inc. provides communications and digital entertainment services. The company operates through four segments: business solutions, entertainment group, consumer mobility, and international. The business solutions segment offers wireless services, and data services, while the entertainment segment provides video entertainment and audio programming channels. The consumer mobility segment offers post-paid and prepaid wireless voice and data communications services to consumers. It offers services to multinational companies, governmental and wholesale customers, and individual subscribers. The company is based in Dallas, Texas.
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