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Global Overview of the Information and Communications Industry

November 2022

This briefing examines how the information and communications (ICT) industry is performing globally and in the largest countries in terms of ICT output. The report also provides data for turnover, market size, industry costs, industry profitability and number of companies. The industry and market overview provides benchmarks against other countries in the relevant region.

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Examining Four Trends Shaping the Information and Communications Industry

Global digitalisation efforts intensify

The digitalisation investments are increasing globally. Automation is set to become the key theme for businesses around the world, driven by necessity to increase efficiency and improve resilience to crises such as the COVID-19 pandemic, while emerging technologies will help to achieve this. For consumers, accessibility to the internet and growing offerings in e-commerce, e-banking, e-government and other solutions become increasingly attractive.

New technologies emerge

The ICT industry’s turnover growth is expected to largely depend on new innovations, as customer volume growth decelerates around the world. The key innovations are expected to come from 5G and 6G, AI, IoT, robotics, factory automation, autonomous vehicles, smart homes and cities, and related segments.

Growing international tensions

Competition between Western countries and China heats up, due to China’s ambitions in the global ICT environment. In addition, the global campaign to end tax havens’ dominance intensifies, posing risks to countries that depend on tech giants’ financial transactions.

Removing boundaries between categories

In the data-driven era of 4G internet and upcoming 5G expansion, telecom players seek to expand beyond traditional segments to spur growth. IT solutions for businesses, greater control over content, services digitalisation and related areas are expected to drive primary investments. As a result, telecommunications players are set to become integrated service providers.

 

Scope
Examining four trends shaping the information and communications industry
Key trends impacting the industry in 2022
ICT remains one of the fastest growing industries globally
An uplift in turnover over 2021
US’s big tech maintains a strong grip over the ICT industry globally
The post-COVID-19 recovery of ICT pushes profits above pre-pandemic levels
The US and China continue to lead ICT market growth in absolute terms
Rising energy prices and increasing inflation present downside risks for the ICT industry
Energy prices and inflation break record highs in 2022
Alphabet becomes the leader in the information and communications industry
Total number of companies increases, with ICT becoming vital to economic growth
The industry’s concentration remains relatively stable, yet mergers can be expected
The US and China to lead future production absolute value growth
India and Indonesia set for the most rapid expansion in the ICT industry
Key future trends shaping the global ICT industry
The US: Industry to continue on a growth path supported by inflows of new investments
Upcoming changes in regulation may alter the tech scene for the US digital giants
China: Domestic market to drive substantial growth for the industry
Growth of domestic internet users strengthens telecom businesses
Japan: Industry to reach pre-pandemic levels only in 2025 in real terms
Real term growth to be slow amid mature domestic market
United Kingdom: P ost-pandemic growth in real terms to be slow
Less optimism for the UK’s tech scene over Brexit
France: The industry to record moderate growth in real terms
France to maintain strong position within the EU in ICT development
Germany: Stagnating turnover growth amid market maturity and economic challenges
Market maturity, rising costs and labour shortages present downward pressures
India: ICT industry to record strong growth in real terms
India is yet to unlock its domestic market’s potential
Canada: ICT industry to record substantial growth in turnover over the outlook
Government and business efforts to boost digitalisation to pay off
Ireland: Access to the common EU market favours substantial ICT turnover growth
Ireland to remain among regional leaders in terms of connectivity and innovation
Italy: The ICT industry emerges from the pandemic stronger than anticipated
National Recovery Plan to increase innovation potential and Italy’s competitiveness
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