Key Highlights
- The global ICT industry is projected to reach a market size of $6.2 trillion by 2024
- As of 2023, over 4.9 billion people worldwide use the internet, representing about 63.4% of the global population
- In 2022, global enterprise ICT spending was approximately $4.1 trillion
- The number of active mobile broadband subscriptions worldwide exceeded 8 billion in 2023
- The ICT sector contributed about 4.5% to global GDP in 2022
- Cloud computing market size is expected to grow to $832.1 billion by 2025
- The global semiconductor market was valued at approximately $595 billion in 2022
- Tech companies accounted for nearly 35% of the world's largest firms by market capitalization in 2023
- Over 80% of enterprise data is stored in the cloud as of 2023
- The average internet connection speed worldwide increased to approximately 75 Mbps in 2023
- Cybersecurity spending worldwide reached $172 billion in 2022
- The adoption rate of AI in enterprises is expected to reach 90% by 2025
- The global Big Data market size was valued at $229.4 billion in 2022, with projections to reach $274 billion by 2027
The ICT industry is booming like never before, with projections reaching over $6.2 trillion by 2024 and billions of people worldwide connecting, innovating, and transforming every aspect of our digital lives.
Digital Adoption and Usage
- As of 2023, over 4.9 billion people worldwide use the internet, representing about 63.4% of the global population
- Over 80% of enterprise data is stored in the cloud as of 2023
- The average internet connection speed worldwide increased to approximately 75 Mbps in 2023
- The adoption rate of AI in enterprises is expected to reach 90% by 2025
- Approximately 65% of the world's population will be online by the end of 2023
- In 2022, there were nearly 4.4 billion social media users worldwide, representing about 55% of the global population
- Virtual private networks (VPNs) usage globally increased to over 650 million users in 2023
- In 2023, approximately 75% of enterprises planned to implement or expand their use of IoT devices
- As of 2023, over 90% of organizations had implemented some form of digital transformation
- The share of 4G LTE users worldwide declined slightly in 2022 as 5G adoption increased to over 30%
- The total number of active social media users reached 4.9 billion in 2023, representing about 62% of the world's population
- The average response time for public cloud services was approximately 250 milliseconds in 2023
- The use of blockchain technology in supply chains increased by over 50% in 2022
- Nearly 85% of smartphone users access the internet primarily via mobile devices in 2023
- The average time spent online per day increased to 7 hours in 2023, globally
Digital Adoption and Usage Interpretation
Emerging Technologies and Innovations
- The number of AI patents filed worldwide increased by 40% in 2022
Emerging Technologies and Innovations Interpretation
ICT Spending and Market Growth
- In 2022, global enterprise ICT spending was approximately $4.1 trillion
- Global ICT R&D investment worldwide was approximately $700 billion in 2022
- The Asia-Pacific region accounts for nearly 50% of the world's total ICT spending in 2023
- The average lifespan of enterprise hardware in 2023 is around 3-5 years
- About 60% of companies expect to increase their cybersecurity budgets in 2024
- The average uptime for major cloud providers in 2023 was above 99.9%
- The number of virtual private server (VPS) hosting providers increased by 20% in 2023, reflecting rising cloud hosting demand
ICT Spending and Market Growth Interpretation
Market Size and Projections
- The global ICT industry is projected to reach a market size of $6.2 trillion by 2024
- The number of active mobile broadband subscriptions worldwide exceeded 8 billion in 2023
- The ICT sector contributed about 4.5% to global GDP in 2022
- Cloud computing market size is expected to grow to $832.1 billion by 2025
- The global semiconductor market was valued at approximately $595 billion in 2022
- Tech companies accounted for nearly 35% of the world's largest firms by market capitalization in 2023
- Cybersecurity spending worldwide reached $172 billion in 2022
- The global Big Data market size was valued at $229.4 billion in 2022, with projections to reach $274 billion by 2027
- Mobile app downloads worldwide surpassed 230 billion in 2022
- SaaS market revenue is projected to reach $245 billion by 2024
- The number of 5G subscriptions worldwide exceeded 1.3 billion in 2023
- Data centers worldwide consumed about 1% of global electricity in 2022
- The enterprise IoT market is expected to grow at a CAGR of 23.7% from 2022 to 2029
- The number of connected devices is projected to reach 29.4 billion by 2023
- E-commerce sales worldwide reached $5.2 trillion in 2022, accounting for about 19% of all retail sales
- Digital transformation spendings are expected to hit $3.4 trillion by 2026
- About 70% of organizations worldwide are actively investing in blockchain technology in 2023
- The global VR/AR industry size is projected to reach $209.2 billion by 2025
- The global digital advertising spending exceeded $600 billion in 2023
- Approximately 90% of new data created in the next decade will be unstructured data
- The number of internet of things (IoT) devices is expected to reach 38.6 billion by 2025
- The global financial technology (fintech) market size was valued at $179.5 billion in 2022 and is expected to grow at a CAGR of 23.84% from 2023 to 2030
- The global edge computing market size is forecasted to reach $43.4 billion by 2027
- The cybersecurity workforce shortage worldwide was estimated at 3.4 million unfilled positions in 2023
- The global mobile payments transaction value is projected to reach $12.4 trillion in 2024
- The total number of tech startups globally exceeded 10,000 per year in 2023
- In 2022, over 90% of data center capacity was built in the cloud
- The global AI market size was valued at $93.5 billion in 2022 and is expected to grow at a CAGR of 38.1% through 2030
- The global digital skill gap is expected to reach 85 million workers by 2030
- In 2022, global e-waste generation was around 57.4 million metric tons, with only about 17.4% properly recycled
- The average cost of deploying AI solutions in enterprises is estimated at $4.1 million
- The number of global internet users is expected to reach 5 billion by 2030
- The total value of global ICT exports was approximately $2.8 trillion in 2022
- Cloud infrastructure investment worldwide surpassed $140 billion in 2022
- The number of digital payments worldwide is expected to reach 1.5 billion by 2025
- The global robotics market is projected to reach $78 billion by 2030
- The global virtual events market size is expected to reach $4.9 billion by 2026
- Financial institutions invested over $50 billion in FinTech startups in 2022
- The number of connected wearable devices worldwide exceeded 1 billion in 2023
- The global smart home market is expected to reach $135 billion by 2025
- The global data center market is projected to grow at a CAGR of 4.4% from 2023 to 2030, reaching $116 billion by 2030
- Digital payments accounted for 42% of global retail sales in 2023, up from 35% in 2021
- The amount of data created daily is estimated to reach 463 exabytes by 2025
- The global enterprise data management market is forecasted to reach $135 billion by 2026
- The global digital payment transaction volume is projected to grow at a CAGR of 13.7% through 2027, reaching over $20 trillion
- The number of cloud storage providers increased by over 25% in 2022, with Amazon Web Services, Microsoft Azure, and Google Cloud maintaining dominance
- Globally, the demand for cybersecurity experts is projected to grow by 31% from 2020 to 2030, faster than the average for all occupations
- The global IT managed services market is projected to reach $329 billion by 2028, growing at a CAGR of 8.4% from 2023
- As of 2023, the global number of digital banks surpassed 250
- The global RFID market is projected to reach $13.8 billion by 2026, growing at a CAGR of 10.2%
- The global quantum computing market size is expected to reach $2.2 billion by 2026, growing rapidly from a valuation of $93 million in 2022
Market Size and Projections Interpretation
Security and Authentication Technologies
- The average cost of a data breach in 2023 was $4.45 million globally
- More than 70% of organizations worldwide experienced a data breach in 2022
- The number of ransomware incidents increased by 38% in 2022 compared to 2021
- In 2023, encryption traffic accounted for over 85% of total internet traffic
- In 2022, about 62% of companies experienced more cyberattacks, an increase from 53% in 2021
- The use of biometric authentication in mobile devices increased by 25% in 2022, with fingerprint and facial recognition leading the trend
- The total number of cyberattacks globally increased by approximately 38% in 2022 compared to 2021, with ransomware leading the surge
- Around 60% of all internet traffic in 2023 was encrypted, emphasizing secure data transmission
Security and Authentication Technologies Interpretation
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