This dataset provides values for INFORMATION AND COMMUNICATION TECHNOLOGY EXPENDITURE PERCENT OF GDP WB DATA.HTML reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2021, global information and communication technology (ICT) spending is forecast to reach approximately *** trillion U.S. dollars. In 2020, spending remained relatively flat as a result of the COVID-19 pandemic. New technologies emerge as the largest spending category Notably, new technologies are projected to eclipse the one trillion U.S. dollar mark in 2021. These include artificial intelligence (AI), Internet of Things (IoT), augmented reality (AR) and virtual reality (VR), but also robotics. Together, they are forecast to take a larger share of the market in the future. Specifically, new technologies are forecast to represent over ** percent of ICT spending within the next five to ten years. Cost savings enabled through automation and cloud make it possible to direct more spending towards new technologies. How do new technologies drive economic progress? The overall impact of next-generation technologies on the global economy is expected to be positive as they can fuel trade growth while reducing transaction costs. For example, AI can automate many different processes or may be leveraged for logistics purposes to become more efficient by planning routes based on current road conditions. At the same time, IoT has a wide variety of different use cases in many verticals, including tracking shipments in real time, thereby making delivery services more efficient. In general, if utilized properly, these technologies lead to a rapid return on investment while modernizing how goods are made and traded globally.

This dataset provides values for INFORMATION AND COMMUNICATION TECHNOLOGY EXPENDITURE PERCENT OF GDP WB DATA.HTML reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

As of 2024, the U.S. region accounted for ** percent of the global information and communication technology (ICT) market share. China and the EU ranked as the second and third biggest regions, each accounting for a market share of over ** percent. ICT Industry Overview Ranking as one of the largest industries in the world, the ICT market is forecasted to reach a size of *** trillion dollars in 2022, and almost *** trillion by 2023. The continuous growth serves as another reminder of the ever-increasing prevalence and importance of technology in today’s society. In general, growth in traditional tech spending over the next few years will be driven foremost by big data and analytics, social, mobile, and AR/VR and robotics, ranks as the fastest growing category. Notably, next-generation security technologies that provide integrated security solutions will also be an area of investment in the future.

This dataset provides values for INFORMATION AND COMMUNICATION TECHNOLOGY EXPENDITURE PERCENT OF GDP WB DATA.HTML reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This dataset provides values for INFORMATION AND COMMUNICATION TECHNOLOGY EXPENDITURE PERCENT OF GDP WB DATA.HTML reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2019, the telecom services sector accounted for the highest information and communications technology (ICT) spending in the United Arab Emirates (UAE), at around **** billion U.S. dollars, which was around half of the country’s total ICT spending in the same year.  Digital transformation: the fuel behind ICT spending  Gulf Cooperation Council members including the UAE are undergoing economic diversification transformations. Digital transformation strategies play a key role in such diversification efforts. The UAE has several economic initiatives focused on digitalization and transformation. UAE Vision 2021 for example, aims to transition the country into a knowledge-based economy thus promoting innovation, investing in research and development, and adopting new technologies. The country’s capital and the second-most populous city, has witnessed growth in the contribution of information and technology to the GDP over the past years.  The future of ICT spending after COVID-19    Globally, IT spending was expected to slightly decline in 2020 due to the COVID-19 pandemic. The Middle East, Turkey, and Africa region are expected to follow the same trend. The ICT industry was no different than multiple industries, which continue to experience the effect of the global pandemic on the recovery of enterprises, governments, and consumers. From a consumer perspective, the total consumer spending on communication in the UAE was forecasted to decrease in 2020 and to pick up afterward in the next years. The country was expected to have the fifth-highest real total consumer spending on communication in the MENA region.

United Kingdom GDP: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data was reported at 15,210.000 GBP mn in Jun 2018. This records a decrease from the previous number of 16,630.000 GBP mn for Mar 2018. United Kingdom GDP: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data is updated quarterly, averaging 13,014.500 GBP mn from Mar 1997 (Median) to Jun 2018, with 86 observations. The data reached an all-time high of 18,413.000 GBP mn in Dec 2017 and a record low of 9,568.000 GBP mn in Jun 2009. United Kingdom GDP: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.A001: ESA 2010: GDP: by Expenditure: Current Prices.

This dataset provides values for INFORMATION AND COMMUNICATION TECHNOLOGY EXPENDITURE PERCENT OF GDP WB DATA.HTML reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Cyprus GDP: swda: CF: GFCF: ICT Equipment data was reported at 19.803 EUR mn in Jun 2018. This records a decrease from the previous number of 19.850 EUR mn for Mar 2018. Cyprus GDP: swda: CF: GFCF: ICT Equipment data is updated quarterly, averaging 26.632 EUR mn from Mar 1995 (Median) to Jun 2018, with 94 observations. The data reached an all-time high of 48.903 EUR mn in Mar 2010 and a record low of 14.907 EUR mn in Sep 2016. Cyprus GDP: swda: CF: GFCF: ICT Equipment data remains active status in CEIC and is reported by Statistical Service of the Republic of Cyprus. The data is categorized under Global Database’s Cyprus – Table CY.A002: ESA 2010: GDP: by Expenditure: Current Price: Seasonally and Working Day Adjusted.

France, the third largest ICT market in Europe, is leading the way for Eurozone's economic recovery, with forecasts for a healthy GDP and conducive business environment. French government’s emphasis over net neutrality, cyber security, and a comprehensive digital strategy for the country are breeding the technology start-ups and attracting investments in ICT domain. Read More

In 2024, the spending in the information technology sector across India was around *** billion U.S. dollars. It was projected that in 2025, the IT spending of India would reach more than *** billion dollars. The IT-BPM industry contributed about seven percent to the GDP of the nation. The industry also generated a revenue close to *** billion dollars in the financial year 2024. Communication services and the devices have been the dominant segments of the IT industry. The IT and ITeS firms of the country have set up over a thousand global delivery centers in about ** countries globally. IT-BPM at a glanceThe industry has generated maximum employment in the private sector. It also made the country, the leading offshoring destination for global IT companies. Major IT firms in the country like Infosys, Wipro, TCS and Tech Mahindra have diversified options available in blockchain, artificial intelligence, robotics, financial services, cloud computing and much more. Banking and financial services had the largest share of annual contract value in the industry. Recent trendsPublic cloud services have picked up a lot of attention in recent years in the country. The market for cloud services was valued at over ******billion dollars in 2023. Artificial intelligence (AI) has also attracted many attentions. In 2023, the investment in AI has reached ************* billion dollars in the country. Emerging technologies in the sector could provide the nation with an opportunity to surf for a big growth, both in onshore and offshore services revenues.

Austria GDP: CL 2015p: FE: GCF: Fixed: ME: ICT Equipment data was reported at 1.105 EUR bn in Dec 2024. This records an increase from the previous number of 1.058 EUR bn for Sep 2024. Austria GDP: CL 2015p: FE: GCF: Fixed: ME: ICT Equipment data is updated quarterly, averaging 0.906 EUR bn from Mar 1995 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 1.367 EUR bn in Dec 2019 and a record low of 0.638 EUR bn in Jun 1995. Austria GDP: CL 2015p: FE: GCF: Fixed: ME: ICT Equipment data remains active status in CEIC and is reported by Austrian Institute of Economic Research. The data is categorized under Global Database’s Austria – Table AT.A005: ESA 2010: GDP: by Expenditure: Chain Linked 2015 Prices.

Austria GDP: FE: GCF: Fixed: ME: ICT Equipment data was reported at 1.231 EUR bn in Dec 2024. This records an increase from the previous number of 1.174 EUR bn for Sep 2024. Austria GDP: FE: GCF: Fixed: ME: ICT Equipment data is updated quarterly, averaging 0.964 EUR bn from Mar 1995 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 1.346 EUR bn in Dec 2019 and a record low of 0.690 EUR bn in Sep 2002. Austria GDP: FE: GCF: Fixed: ME: ICT Equipment data remains active status in CEIC and is reported by Austrian Institute of Economic Research. The data is categorized under Global Database’s Austria – Table AT.A001: ESA 2010: GDP: by Expenditure: Current Price.

Austria GDP: swda: FE: GCF: Fixed: ME: ICT Equipment data was reported at 1.129 EUR bn in Dec 2024. This records a decrease from the previous number of 1.192 EUR bn for Sep 2024. Austria GDP: swda: FE: GCF: Fixed: ME: ICT Equipment data is updated quarterly, averaging 0.957 EUR bn from Mar 1995 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 1.286 EUR bn in Mar 2019 and a record low of 0.750 EUR bn in Dec 2002. Austria GDP: swda: FE: GCF: Fixed: ME: ICT Equipment data remains active status in CEIC and is reported by Austrian Institute of Economic Research. The data is categorized under Global Database’s Austria – Table AT.A002: ESA 2010: GDP: by Expenditure: Current Price: Seasonally & Working Day Adjusted.

United Kingdom GDP: 2013p: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data was reported at 15,349.000 GBP mn in Mar 2017. This records an increase from the previous number of 15,315.000 GBP mn for Dec 2016. United Kingdom GDP: 2013p: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data is updated quarterly, averaging 13,925.000 GBP mn from Mar 1997 (Median) to Mar 2017, with 81 observations. The data reached an all-time high of 17,440.000 GBP mn in Dec 2007 and a record low of 9,927.000 GBP mn in Jun 2009. United Kingdom GDP: 2013p: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.A007: ESA 2010: GDP: by Expenditure: Chain Linked: 2013 Prices. Rebased from 2013p to 2015p Replacement series ID: 390381957

Cyprus GDP: CL 2010p: swda: CF: GFCF: ICT Equipment data was reported at 19.863 EUR mn in Jun 2018. This records a decrease from the previous number of 19.912 EUR mn for Mar 2018. Cyprus GDP: CL 2010p: swda: CF: GFCF: ICT Equipment data is updated quarterly, averaging 29.116 EUR mn from Mar 1996 (Median) to Jun 2018, with 90 observations. The data reached an all-time high of 50.005 EUR mn in Dec 2009 and a record low of 14.571 EUR mn in Sep 2016. Cyprus GDP: CL 2010p: swda: CF: GFCF: ICT Equipment data remains active status in CEIC and is reported by Statistical Service of the Republic of Cyprus. The data is categorized under Global Database’s Cyprus – Table CY.A007: ESA 2010: GDP: by Expenditure: Chain Linked 2010 Price: Seasonally and Working Day Adjusted.

United Kingdom GDP: 2016p: DE: GCF: ICT Equipment & Other Machinery & Eqpt data was reported at 15,867.000 GBP mn in Mar 2018. This records a decrease from the previous number of 17,146.000 GBP mn for Dec 2017. United Kingdom GDP: 2016p: DE: GCF: ICT Equipment & Other Machinery & Eqpt data is updated quarterly, averaging 14,175.000 GBP mn from Mar 1997 (Median) to Mar 2018, with 85 observations. The data reached an all-time high of 18,432.000 GBP mn in Dec 2007 and a record low of 9,441.000 GBP mn in Jun 1997. United Kingdom GDP: 2016p: DE: GCF: ICT Equipment & Other Machinery & Eqpt data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s UK – Table UK.A003: ESA 2010: GDP: by Expenditure: Chain Linked: 2016 Prices.

United Kingdom GDP: 2015p: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data was reported at 14,773.000 GBP mn in Dec 2017. This records an increase from the previous number of 13,489.000 GBP mn for Sep 2017. United Kingdom GDP: 2015p: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data is updated quarterly, averaging 12,878.500 GBP mn from Mar 1997 (Median) to Dec 2017, with 84 observations. The data reached an all-time high of 16,082.000 GBP mn in Dec 2007 and a record low of 9,249.000 GBP mn in Jun 2009. United Kingdom GDP: 2015p: DE: GFCF: ICT Equipment & Other Machinery & Eqpt data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.A005: ESA 2010: GDP: by Expenditure: Chain Linked: 2015 Prices.

Austria GDP: CL 2015p: swda: GCF: Fixed: ICT Equipment data was reported at 1.014 EUR bn in Dec 2024. This records a decrease from the previous number of 1.074 EUR bn for Sep 2024. Austria GDP: CL 2015p: swda: GCF: Fixed: ICT Equipment data is updated quarterly, averaging 0.900 EUR bn from Mar 1995 (Median) to Dec 2024, with 120 observations. The data reached an all-time high of 1.292 EUR bn in Mar 2019 and a record low of 0.690 EUR bn in Jun 1995. Austria GDP: CL 2015p: swda: GCF: Fixed: ICT Equipment data remains active status in CEIC and is reported by Austrian Institute of Economic Research. The data is categorized under Global Database’s Austria – Table AT.A006: ESA 2010: GDP: by Expenditure: Chain Linked 2015 Prices: Seasonally & Working Day Adjusted.