The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Sept. 5, 2023 /PRNewswire/ -- As per The Business Research Company's analysis, the global information technology (IT) market is poised for substantial growth, projected to reach a market size of $11,995.97 billion by 2027, with a notable Compound Annual Growth Rate (CAGR) of 7.9%. This expansion is primarily attributed to the increasing demand for cloud computing services, which is expected to be a significant driver of IT services throughout the forecast period. As businesses increasingly rely on cloud solutions for their computing needs, the IT sector is positioned for continued growth.
In this dynamic landscape, The Business Research Company (TBRC) reports play a crucial role in aiding businesses within the information technology sector. These reports provide comprehensive insights, market trends, and actionable intelligence that empower companies to make informed decisions. By leveraging TBRC's reports, businesses can strategize effectively, identify emerging opportunities, and navigate the evolving IT market to achieve sustainable growth and success.
View The Business Research Company's top eleven market reports in the information technology industry:
1. Airport Technologies Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/airport-technologies-global-market-report
An emerging trend within the airport technologies market is the adoption of automated baggage handling systems. These advanced systems incorporate the use of small robotic vehicles designed to efficiently transport baggage from the conveyor belt, through security procedures, and ultimately to the designated aircraft carriers. The utilization of this innovative technology holds the promise of significantly decreasing the incidence of lost luggage at airports. This trend represents a crucial step forward in enhancing both the efficiency and passenger experience within the aviation industry.
2. Digital PC Games Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/digital-pc-games-global-market-report
A significant trend reshaping the landscape of the digital PC games market is the rise of cloud gaming. This disruptive platform involves game providers running the game on their servers and then streaming the gameplay display to users, expanding access to premium games. Cloud gaming offers a substantial advantage by eliminating the requirement for users to constantly upgrade their hardware. This accessibility and convenience factor not only increases the user base for digital PC games but also transforms how players interact with and enjoy these games, marking a pivotal shift in the industry.
3. GPS Equipment Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/gps-equipments-global-market-report
The global market for GPS equipment is anticipated to reach $3.12 billion by the year 2027, with a Compound Annual Growth Rate (CAGR) of 5.4%. This growth is primarily attributed to the expanded adoption of GPS tracking devices in commercial vehicles. The utilization of GPS technology in the commercial sector has played a pivotal role in driving the growth of the GPS equipment market, offering businesses enhanced navigation, tracking, and logistical advantages.
4. IoT Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/iot-global-market-report
The global IoT market is poised to experience significant growth, with a projected market size of $1,057.55 billion by 2027, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 21.4%. This growth is primarily attributed to the widespread adoption of IoT across various industries, including the automotive sector. The integration of IoT technology into diverse industries is a driving force behind the expansion of the IoT market, offering innovative solutions and opportunities for improved efficiency and connectivity.
5. IoT Services Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/iot-services-global-market-report
Artificial intelligence stands as a pivotal trend within the IoT sensors market. It serves as the fundamental element necessary for effectively handling the vast amounts of data being collected in today's IoT landscape, thereby maximizing its value for companies. Artificial intelligence is poised to play a vital role in enhancing IoT data analysis across several key areas. These areas encompass ensuring data accuracy in time series analysis, facilitating predictive and advanced analytics, streamlining data preparation processes, and enabling real-time geospatial and location tracking for logistic data, all of which are crucial for optimizing IoT operations and insights.
6. Laptops Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/laptops-global-market-report
The global laptops market is projected to expand significantly, reaching a market size of $156.17 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 6.9%. This growth is primarily attributed to the increasing penetration of the internet, which is expected to act as a catalyst for the laptops market in the forecast period. As more people gain access to the internet, the demand for laptops for various computing and online activities is expected to rise, driving the overall market growth.
7. Productivity Software Publishing Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/productivity-software-publishing-global-market-report
The global market for productivity software publishing is poised for significant growth, with a projected market size of $593.39 billion by 2027, showcasing a robust Compound Annual Growth Rate (CAGR) of 10.5%. This growth is underpinned by the adoption of automation across various industries. Automation plays a pivotal role in enhancing efficiency, ultimately leading to improved profit margins in diverse sectors. As businesses increasingly recognize the benefits of automation through productivity software, the market is expected to experience substantial expansion.
8. Smartphone/Tablet Games Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/smart-phone-tablet-games-global-market-report
The global market for smartphone and tablet games is poised for remarkable growth, with a projected market size of $165.5 billion by 2027, demonstrating a robust Compound Annual Growth Rate (CAGR) of 20.0%. This growth is strongly bolstered by the rapid proliferation of affordable gaming smartphones and tablets in the market. The increasing accessibility of budget-friendly gaming devices is a significant driver for the smartphone and tablet gaming industry, making immersive gaming experiences more accessible to a wider audience and fueling the market's expansion.
9. 4G Services Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/4g-services-global-market-report
The global 4G services market is anticipated to reach a market size of $481.51 billion by 2027, although it is expected to exhibit a negative Compound Annual Growth Rate (CAGR) of -4.8%. This decline in CAGR is noteworthy, but it does not diminish the persistent demand for high-speed internet connectivity. Indeed, the increasing need for fast and reliable internet access remains a driving force behind the 4G services market, despite the negative growth rate projection. This ongoing demand reflects the essential role of 4G technology in providing high-speed connectivity to users across various sectors and regions.
10. Broadcast Communications Equipment Global Market Report 2023 https://www.thebusinessresearchcompany.com/report/broadcast-communications-equipment-global-market-report
The adoption of internet television stands out as a burgeoning trend within the broadcast communication equipment market. Particularly in developed markets, customers are embracing and displaying a preference for internet TV as their mode of content consumption. Internet TV, which involves the distribution of content over the internet, is gaining traction. Notably, wireless service providers are entering the arena by offering online video streaming services and internet TV as competitive alternatives to traditional pay-TV providers. These offerings are strategically designed to expand their subscriber base and bolster revenues in response to evolving consumer preferences in the digital age.
11. Distributed Cloud Global Market Report 2022 https://www.thebusinessresearchcompany.com/report/distributed-cloud-global-market-report
The global distributed cloud market is on track for substantial growth, projected to reach a market size of $7.73 billion by 2027, with an impressive Compound Annual Growth Rate (CAGR) of 17.8%. This growth is predominantly driven by the increasing adoption of distributed cloud solutions across various end-user industries. As businesses recognize the advantages of distributed cloud computing, including enhanced flexibility, scalability, and improved data management, it is expected to further propel the expansion of the distributed cloud market in the foreseeable future.
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