As of 2024, the U.S. region accounted for 38 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 10 percent. ICT Industry Overview Ranking as one of the largest industries in the world, the ICT market is forecasted to reach a size of 5.5 trillion dollars in 2022, and almost six 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.

The United States ICT market is segmented by type (Hardware, Software, IT Services, and Telecommunication Services), by the size of the enterprise (Small and Medium Enterprise and Large Enterprises), by industry vertical (BFSI, IT and Telecom, Government, Retail and E-commerce, Manufacturing, and Energy and Utilities). The report provides the market sizes and forecasts in terms of value in USD.

According to Cognitive Market Research, the global ICT market will be USD 5521.8 million in 2024 and expand at a compound annual growth rate (CAGR) of 5.20% from 2024 to 2031.

North America held the major market share of more than 40% of the global revenue with a market size of USD 2208.72 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 1656.54 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1270.01 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Latin America's market will have more than 5% of the global revenue with a market size of USD 276.09 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.
Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 110.44 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
The hardware segment is set to rise due to its growing need for robust infrastructure. Key players compete to innovate, ensuring efficient and scalable solutions to meet evolving digital requirements across industries.
Increased construction activities, innovations in material technology, and increasing demand for lightweight materials.

Innovation Made by Key Players to Provide Viable Market Output

The ICT market is experiencing significant growth due to the innovations made by key players. Constant advancements in cloud computing, artificial intelligence, 5G connectivity, and the Internet of Things (IoT) contribute to transformative changes. Companies invest in research and development, fostering a dynamic ecosystem of cutting-edge products and services. These innovations enhance efficiency, security, and connectivity, meeting the evolving needs of businesses and consumers. As a result, the ICT market is characterized by rapid evolution, with key players leading the way in shaping the digital landscape.

For instance, Facebook bought a 10% stake in Reliance-backed Jio in April following an investment of USD 5.7 billion.

(Source: https://www.reuters.com/article/idUSKCN22404E/#:~:text=NEW%20DELHI%2FBENGALURU%20(Reuters),extensive%20reach%20in%20the%20country)

Increase in Digitalization to Propel Market Growth

The ICT market is experiencing growth due to increasing digitalization. This trend is characterized by the widespread adoption of digital technologies across various sectors, leading to enhanced efficiency, connectivity, and innovation. Businesses and organizations leverage digital tools like cloud computing, artificial intelligence, and the Internet of Things (IoT) to streamline operations, improve decision-making processes, and create new opportunities. Pursuing cost-effectiveness, improved customer experiences, and the need for agile, data-driven solutions fuel the surge in digitalization. As a result, the ICT market is witnessing robust growth driven by the transformative impact of digital technologies on the global economy.

For instance, In September 2022, Bharti Airtel, one of the largest telecommunications companies in India, launched a trial project with TP Northern Odisha Distribution to provide its more than two million registered customers with alternative payments for their electricity bills. To facilitate payment of bills, an effort will be made to mobilize 4,000 Airtel Payment Bank locations in north Odisha. The customers of the joint ventures between Tata Power and the State of Odisha should go to the shop and provide their contact information and customer details at a bank branch.

(Source: https://economictimes.indiatimes.com/industry/telecom/airtel-partners-odisha-utility-to-offer-bill-payment-solution/articleshow/93989909.cms?from=mdr)

High Initial Cost to Restrict Market Growth

The ICT market faces a challenge due to high initial costs. Organizations often face substantial upfront expenses when implementing advanced technologies such as cloud computing, cybersecurity solutions, or infrastructure upgrades. This financial barrier can be a deterrent, particularly for smaller businesses with limited budgets. The substantial investment required for technology deployment may hinder the pace of digital transformation and innovation, limiting accessibility f...

The GCC ICT Market Report is Segmented by Technology (Big Data Analytics, Mobility and Telecom, Cloud Computing, Storage, and Business Process Outsourcing), by Component (Hardware/Devices, Software and Services, and Communication and Connectivity), by End-User Industry (Oil, Gas and Utilities, Travel and Hospitality, Healthcare, Financial Services, Manufacturing and Construction, and Other End-User Industries), and by Country. The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The Jordan ICT market, valued at $3.5 billion in 2025, is projected to experience robust growth, driven by increasing government investments in digital infrastructure, rising adoption of cloud computing and advanced technologies like AI and IoT across various sectors, and a burgeoning e-commerce landscape. The 6.47% CAGR from 2025 to 2033 indicates a significant expansion, particularly within the BFSI, IT & Telecom, and Government sectors. These industries are actively modernizing their operations and leveraging ICT solutions for enhanced efficiency, security, and service delivery. Growth in the SME segment is also anticipated due to rising digital literacy and affordability of ICT solutions. While challenges like cybersecurity threats and a potential skills gap in the workforce exist, the overall market outlook remains positive. The dominance of major players such as IBM, Microsoft, and Google, coupled with the emergence of regional players like Datos Solution, highlights a competitive yet dynamic market landscape. Further growth drivers include increasing mobile penetration and the government’s push for digital transformation initiatives aimed at improving public services and attracting foreign investment. The market's segmentation by hardware, software, IT services, and telecommunication services provides valuable insights into specific growth areas and allows for targeted investment strategies. The forecast period from 2025 to 2033 showcases a steady trajectory of growth, fueled by sustained demand for technological upgrades and digitalization efforts across various sectors. The substantial investment in infrastructure development, coupled with the growing adoption of innovative ICT solutions, will be pivotal in driving market expansion. However, addressing the potential limitations presented by cybersecurity concerns and skills gaps will be crucial for realizing the full potential of the market. This necessitates a collaborative approach between the government, private sector players, and educational institutions to foster a skilled workforce and secure digital environment. The increasing adoption of cloud-based solutions, advanced analytics, and the Internet of Things (IoT) across all industry segments will contribute significantly to the sustained growth of the Jordan ICT market during the forecast period. This report provides a detailed analysis of the Jordan ICT market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, this comprehensive study offers valuable insights into the market's historical performance (2019-2024), current state (2025), and future trajectory (2025-2033). Key areas explored include market size (in millions), segmentation, growth drivers, challenges, and key players. This report is essential for businesses, investors, and policymakers seeking a deep understanding of this dynamic market. High-search-volume keywords such as "Jordan ICT market size," "Jordan telecom market," "Jordan IT services," and "Jordan digital transformation" are strategically incorporated throughout the report to maximize online visibility. Recent developments include: March 2024: Zain Group, a prominent telecommunications operator in the Middle East and North Africa, disclosed a significant infrastructure investment, with its capital expenditure (Capex) hitting USD 994 million. The company's strategic moves, like selling towers and engaging in leaseback agreements in pivotal markets like Saudi Arabia, Kuwait, Jordan, and Iraq, bolstered operational efficiencies, leading to a surge in net profits., October 2023: Aqaba Digital Hub launched a data center in Jordan. The new data center, with a capacity of 6 megawatts, integrates a neutral internet exchange point, enabling seamless data exchange with local telecommunications companies, internet service providers, and digital content providers. This integration significantly reduces access times and minimizes data-sharing costs.. Key drivers for this market are: Rising Digital Transformation in Industries, Rapid Development of 5G Network Across the Nation. Potential restraints include: Rising Digital Transformation in Industries, Rapid Development of 5G Network Across the Nation. Notable trends are: Consistent Digital Transformation Initiatives are Driving the Market.

The Jordan ICT Market is Segmented by Type (Hardware, Software, IT Services, and Telecommunication Services), Size of Enterprises (Small and Medium Enterprises and Large Enterprises), and Industry Vertical (BFSI, IT and Telecom, Government, Retail and E-Commerce, Manufacturing, Energy and Utilities, and Other Industry Verticals). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The Report Covers Greece's ICT Market Companies and the Market is Segmented by Type (Hardware, Software, IT Services, Telecommunication Services), by Size of Enterprise (Small and Medium Enterprises, Large Enterprises), by Industry Vertical (BFSI, IT and Telecom, Government, Retail and E-Commerce, Manufacturing, Energy and Utilities, Other Industry Verticals). The Report Offers Market Sizes and Forecasts in Value (USD) for all the Above Segments.

In 2022 the ICT market volume was 196.1 billion euros, this was around an eight billion euro increase compared to the year before. The market volume is set to break 200 billion euros in 2023.

The size of the Japan ICT market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 11.25% during the forecast period.The Japan ICT marketplace ranges from very small to an all-encompassing range in the technologies from hardware, through software, including telecommunication as well as services that are sourced through the Internet. ICT supports Japan's key areas of economical and social prosperity. The chief industries in this Japan ICT business sector are, for example: telecommunication broadcasting; IT Service providers; Manufacturing electronics.The Japanese ICT market is advanced in terms of technological infrastructure, strong research and development capabilities, and a highly skilled workforce. However, there are challenges to the market: an aging population, increasing competition from global players, and concerns over cybersecurity. Recent developments include: October 2022: Google announced that it will launch its first data center in Japan by 2023. The data center would provide more reliable, faster access to the company's products and services, support employment and economic activity, and connect Japan to the rest of the global digital economy., February 2022: KDDI, a Japanese telecom company, announced the deployment of the world's first commercial 5G standalone open radio access network (Open RAN) in Japan. The network launch would also enable the company to accelerate the deployment of Open RAN across Japan, including in rural areas.. Key drivers for this market are: Rising need to explore and adopt digital technologies and initiatives. Potential restraints include: High CaPex for Building Data Center Along With Security Challenges. Notable trends are: Rising need to explore and adopt digital technologies and initiatives.

The Argentina ICT Market is projected to reach USD XX million by 2033, growing at a CAGR of 8.30% from 2025 to 2033. The market's growth is driven by factors such as increasing demand for cloud computing, digital transformation, and e-commerce. Additionally, government initiatives aimed at promoting digital infrastructure and connectivity are expected to further drive market expansion. Key trends shaping the market include the adoption of artificial intelligence (AI) and machine learning (ML) technologies, the rise of 5G networks, and the increasing demand for cybersecurity solutions. The market is highly competitive, with several domestic and international players. Key market participants include Microsoft, DXC Technology, IBM Corporation, Google LLC, Telefonica De Argentina SA (Movistar), Telecom Argentina S A, America Movil (Claro), ARSAT, Globant, Telmex Argentina S A, Salesforce, Cognizant Technology Solutions, Oracle, Telecentro SA, and SAP SE. Recent developments include: In October 2022, Nokia announced the deployment of its Altiplano Open Access solution for American Tower's fiber-to-the-home (FTTH) network in Argentina. The network controller solution enables the wholesale distribution of fiber access on a Network-as-a-Service (NaaS) basis by sharing network resources as slices of a physical network through virtualization. Three national virtual network operator tenants have already signed on with American Tower., In May 2022, ARSAT, a top telecom provider to provide top-notch connectivity services in Argentina, used SES-17, a high-performance geostationary (GEO) satellite, recently launched. By utilizing SES-17's capability, ARSAT would increase access to high-quality, reasonably priced satellite broadband services for commercial and residential applications.. Key drivers for this market are: Consistent Digital Transformation Initiatives, Robust Telecommunication Network. Potential restraints include: Lack of Cybersecurity Professionals, High Reliance on Traditional Authentication Methods and Low Preparedness. Notable trends are: Telecommunication is a Growing Sector.

The United States ICT market reached around USD 1285.50 Billion in 2024. The market is estimated to grow at a CAGR of 7.70% during the forecast period of 2025-2034 to attain nearly USD 2699.16 Billion by 2034.

Thailand ICT Market Report is Segmented by Type (Hardware (Storage Devices, Networking Equipment (Switches, Routers, Access Points, Network Security Appliances, Etc. ), Computing Devices (PCS, Tablets, Smartphones, Etc. ), Others (Peripherals Including Printers, Copiers, Etc. )), Software (Enterprise Software (ERP, CRM, SCM, HCM, BI Etc. ), IT Management (ITSM, Storage & Archiving, Network Software, Etc. ), BPM and Other Software (Collaboration Tools, Business Process Management, Etc. )), IT Infrastructure (Data Centers, High-Performance Computing, Including Processors and Servers), Public Cloud Service (Infrastructure As A Service (IAAS), Platform As A Service (PAAS) Software As A Service (Saas)), IT Services (Application (Or Software) Services, Professional Technology Services (IT Consulting & Implementation Services, Deployment and Support, Training and Education Services) Outsourcing and Managed Service (BPO Services, Application Management, IT Outsourcing, Network and Endpoint Outsourcing Services)), Telecommunication Services (Voice Services, Data Services))), Size of Enterprise (Small and Medium Enterprise and Large Enterprise), and Industry Vertical (BFSI, IT & Telecom, Government, Retail, E-Commerce, Manufacturing, Energy and Utilities, and Other Industry Vertical). The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above Segments.

The Poland ICT market, valued at €28.68 billion in 2025, exhibits robust growth potential, projected to expand at a Compound Annual Growth Rate (CAGR) of 10.15% from 2025 to 2033. This surge is driven by several key factors. Firstly, increasing digitalization across various sectors, particularly BFSI (Banking, Financial Services, and Insurance), IT and Telecom, and the burgeoning e-commerce landscape, fuels significant demand for advanced ICT solutions. Government initiatives promoting digital infrastructure development and smart city projects further contribute to market expansion. The adoption of cloud computing, big data analytics, and AI-powered solutions across large and small-medium enterprises is accelerating, creating lucrative opportunities for hardware, software, IT services, and telecommunication providers. Furthermore, Poland's strategic location within the European Union and its skilled workforce attract significant foreign investment in the ICT sector, bolstering market growth. However, challenges remain. Competition among established players like Microsoft, Adobe, Oracle, and Google, along with regional providers, intensifies pricing pressures. Data security concerns and the need for robust cybersecurity infrastructure represent significant restraints. While the large enterprise segment currently dominates, the SME sector presents a substantial untapped market with significant growth potential as these businesses increasingly adopt digital technologies to enhance their operations and competitiveness. Specific industry verticals like manufacturing and energy and utilities are also experiencing considerable growth in ICT adoption, creating further avenues for market expansion. The projected growth trajectory suggests a significant expansion of the Polish ICT market by 2033, driven by technological advancements and consistent investment in digital infrastructure. Poland ICT Market: A Comprehensive Analysis (2019-2033) This comprehensive report provides an in-depth analysis of the Poland ICT market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, this report offers invaluable insights into market trends, growth drivers, challenges, and future projections. The report includes detailed segmentations by type (Hardware, Software, IT Services, Telecommunication Services), size of enterprise (SMEs and Large Enterprises), and industry vertical (BFSI, IT & Telecom, Government, Retail & E-commerce, Manufacturing, Energy & Utilities, and Others). This data-rich resource is essential for businesses operating in or considering entry into the dynamic Polish ICT landscape. Recent developments include: May 2024: Vecima Networks Inc. announced its partnership with Vector Tech Solutions to deploy Vecima's Entra SC-1D Access Node and Entra Access Controller (EAC) solutions to telecommunication provider ASTA-NET in Poland. With this collaboration, the company aims to expand its presence in Europe, providing local expertise as a Vecima reseller in Poland., March 2024: Infopro Digital Automotive announced that it is expanding its presence in Poland by launching Atelio Data, an automotive database that provides comprehensive repair and maintenance data for all types of vehicles. With this solution, the company aims to provide Polish workshops with instant access to accurate and reliable automotive data, achieving strategic growth in Central and Eastern Europe.. Key drivers for this market are: Rising Need to Explore and Adopt Digital Technologies and Initiatives, Rising Internet Penetration in the Country. Potential restraints include: Rising Need to Explore and Adopt Digital Technologies and Initiatives, Rising Internet Penetration in the Country. Notable trends are: Growing Telecommunication Services in the Country.

The size and share of the market is categorized based on Type (IoT, Big Data, Security, Cloud Computing, Content Management) and Application (Devices, Software, IT, Data Center Systems, Communication Services, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Forecast: ICT Industry Share in GDP in the UK 2024 - 2028 Discover more data with ReportLinker!

In fiscal year 2020, the sales value for the domestic medical ICT market in Japan was forecasted to exceed about 15.4 billion Japanese yen. Medical information and communication technology (ICT) is used to assist in health data management as well as medical processes like diagnosis, treatment, and more.

Mexico ICT Market Size was valued at USD 66.3 Billion in 2024 and is projected to reach USD 156 Billion by 2032, growing at a CAGR of 11.32% from 2026 to 2032.

Key Market Drivers:
Digital Transformation for Government Services: The Mexican government’s National Digital Strategy has been a significant driver, with the federal government investing 44.1 billion pesos (about USD 2.2 billion) in ICT infrastructure and services in 2023, according to the Mexican Ministry of Finance’s (SHCP) budget report. This is a 12% increase over the previous year.

Increasing Internet Penetration and Connectivity: According to Mexico’s National Institute of Statistics and Geography (INEGI), internet penetration will reach 75.6% of the population by 2023, with 88.7 million users. This represents a huge increase from 72.0% in 2022, indicating a strong market growth potential.

E-commerce Expansion: According to the National Association of Online Sales (AMVO), e-commerce in Mexico will grow by 27% in 2023, with a market value of 524.1 billion pesos (about USD 26.2 billion). This expansion has directly influenced the demand for ICT infrastructure and services.

Information and Communications Technology Market Report is Segmented by Type (Hardware, Software, IT Services, Telecommunication Services), by Enterprise Size (SMEs, Large Enterprises), by End-User Industry (BFSI, IT and Telecom, Government, Retail and E-Commerce, Manufacturing, Energy and Utilities, Other End-User Industries), by Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

India ICT market reached around USD 114.68 Billion in 2024. It is projected to grow at a CAGR of 13.10% during 2025-2034 to reach nearly USD 392.75 Billion by 2034.

The Bulgarian ICT market, valued at approximately $8.95 million in 2025, exhibits a steady growth trajectory, projected to expand at a Compound Annual Growth Rate (CAGR) of 3.15% from 2025 to 2033. This growth is fueled by increasing digitalization across various sectors, particularly BFSI, IT and Telecom, and the government. Strong government initiatives promoting digital transformation and a growing adoption of cloud computing, big data analytics, and cybersecurity solutions contribute significantly to this upward trend. The market is segmented by hardware, software, services, and telecommunication services, catering to both small and medium enterprises (SMEs) and large enterprises. While the dominance of large enterprises is expected to continue, SMEs are increasingly adopting ICT solutions, spurred by cost-effectiveness and enhanced operational efficiency. The BFSI sector currently leads in ICT spending, followed by IT and Telecom, with growing investment anticipated in the retail and e-commerce sectors, as well as energy and utilities. Major players like TCS, IBM, HP, and others are actively competing in this expanding market, leveraging their expertise in providing comprehensive ICT solutions to diverse industries. Despite the positive outlook, the Bulgarian ICT market faces certain challenges. These include a potential shortage of skilled professionals, budget constraints within certain industry verticals, and the need to address cybersecurity concerns effectively. However, ongoing investments in education and training programs are anticipated to mitigate the talent shortage issue. The market's future growth will depend on the continued government support for digitalization initiatives, the increasing adoption of advanced technologies by various sectors, and a proactive approach to addressing existing challenges. Overall, the Bulgarian ICT market presents substantial opportunities for existing and new players to establish a foothold and benefit from the ongoing growth trajectory. Recent developments include: January 2024: INSAIT has introduced BgGPT, the first open large language model tailored specifically for the Bulgarian market. This innovative model caters to a wide spectrum of users, including both public and private entities. The development of BgGPT is mainly a part of INSAIT’s strategy, aiming to create an open and accessible AI for societal and business advancement. BgGPT, tailored for the specifics of the Bulgarian language, empowers the development of applications across various sectors, including education, business, healthcare, and public administration in Bulgaria., January 2024: Privately-owned US cloud company Redis announced its expansion in Bulgaria with the inauguration of a research and development center in Sofia, the capital. The company revealed its choice of Ivan Atanassov, previously leading engineering at Uber in Sofia, to spearhead this new venture.. Key drivers for this market are: Implementation of 5G is Back on Track, Growing demand for Cloud Technology. Potential restraints include: Implementation of 5G is Back on Track, Growing demand for Cloud Technology. Notable trends are: Cloud Technology is Expected to Witness a Growing Demand.