Industry Overview and Game-changers

Information technology sector is one that have grown from nothing to outstanding prominence. In an era where the world is been integrated into a global village, the information technology sector take credit for it.  Countries around the world, have keyed into this on a very large scale, 

and the same is with Asia pacific countries especially India. Software and hardware mechanics, computer programming, desktop publishing and a couple of other activities are helping countries increase their technology base and industrialization. In an analysis published by statista, it was stated that in 2017, 23.7% of the total budgeted spending of 248.6 billion US dollars is expected to be spent on IT hardware in Asia pacific region. Similarly, the steady growth of most economies in the region have been attributed to the success recorded in this sector.

The information technology industry continues on its rapid pace of innovative creations and steaming the  tide as well. According to SME portals the industry have been spurred by advances in mobile, social networking, cloud and E-commerce. There are also other aspect of this industry that is worthy of note. For instance the advent of information technology will be incomplete without putting into cognizance the area of telecommunication, information, storing, retrieving and sending, data analysis and data storage as well.

The satellite is one of the greatest miracle that has happened to this sector. In the comfort of their homes people can go on the internet and source for any information they want. There are opportunities for download and file storage. Thousand of computers around the world are connected together through a wireless medium called networking. Important information and classified document can be stored in databases. Computer savers are being used to run business applications. This is an addition to modern day economic realities as there is now a  platform called E-commerce. Computers savers interact with customers around the world and for better retrieval, there is now the possibility of cloud storage which is not restrict by any device at all

By all standard the Information Technology industry is the hub of 21st  century, as it has been able to capture almost everything that the world has known


Take a look at the chart below to see the market size, which is currently in billions. Showing both domestic sales and exports, we can see a gradual increase in exports and despite the fall in domestic sales in 2016, it rose in 2017. There are predictions that this will grow.

Note: E – Estimate Source: NASSCOM


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