LONDON, March 04, 2024 (GLOBE NEWSWIRE) -- Stay ahead of competitors by leveraging The Business Research Company's Information Technology industry reports, which offer invaluable insights for businesses navigating this dynamic sector. These comprehensive analyses cover information technology market trends, growth drivers, challenges, and opportunities, empowering companies to make informed decisions and develop strategic plans.
Explore the top seven latest market reports in the Information Technology industry from The Business Research Company:
1. Information Technology Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/information-technology-global-market-report
Information technology (IT) involves using computers, storage, networking, and physical devices to handle electronic data. IT services, computer hardware, telecom, and software products are key components, serving various sectors like finance, retail, manufacturing, and healthcare.
The IT market grew from $8508.63 billion in 2023 to $9039 billion in 2024, at a CAGR of 6.2%, driven by internet adoption, software advancements, and cybersecurity concerns. Expected to reach $12417.21 billion by 2028, with a CAGR of 8.3%, driven by globalization of IT services, digital transformation, and smart city emergence.
Key trends in IT include hybrid work, cloud computing, climate tech, AI integration, and IoT adoption, while major players prioritize innovative language models for revenue and competitiveness.
2. Computer Hardware Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/computer-hardware-global-market-report
Computer hardware, essential for system functionality, includes tangible components like peripherals, storage devices, and servers. Its market, expected to grow from $674.44 billion in 2023 to $710.32 billion in 2024 (CAGR 5.3%), and $914.55 billion by 2028 (CAGR 6.5%), is driven by factors such as the personal computing revolution and remote work infrastructure. Major trends include edge computing and AI integration. The rising IT industry is expected to fuel further growth, with major companies innovating to drive revenue.
3. Data Governance Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/data-governance-global-market-report
Data governance involves managing information availability, integrity, and security in enterprise systems, driven by internal standards and policies. It comprises solutions and services enabling organizations to discover, understand, and secure data. The market, growing rapidly from $3.73 billion in 2023 to $4.44 billion in 2024 (CAGR 18.9%), and projected to reach $9.76 billion by 2028 (CAGR 21.8%), is fueled by factors like regulatory compliance and digital transformation. Major trends include blockchain adoption and strategic partnerships, driven by the exponential growth of data volumes and the need for effective collaboration across organizations.
4. Fitness App Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/fitness-app-global-market-report
Fitness apps are mobile applications promoting healthy behavior change through personalized workouts, nutrition plans, and fitness advice. They may sync with wearable devices for data accessibility. Types include workout, disease management, nutrition, and medication adherence apps, accessible on platforms like Android and iOS via smartphones, tablets, and wearables.
The fitness app market has experienced significant growth, rising from $12.2 billion in 2023 to $14.96 billion in 2024 (CAGR 22.6%), driven by increased health awareness, home workout convenience, and personalized plans. Expectations for continued growth are high, with the market projected to reach $35.79 billion by 2028 (CAGR 24.4%), fueled by virtual classes, nutrition tracking, gamification, and corporate wellness programs. Emerging trends include mental health features, meal planning, remote training services, and subscription-based models.
5. IT Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/it-services-global-market-report
The IT services market has seen robust growth, increasing from $3,414.09 billion in 2023 to $3,615.86 billion in 2024 (CAGR 5.9%). This growth is attributed to factors such as internet penetration, cloud adoption in SMEs, government support, and the COVID-19 pandemic.
Expectations for continued strong growth are high, with the market projected to reach $5,074.84 billion by 2028 (CAGR 8.8%). This growth will be driven by factors including e-commerce penetration, development of smart cities, startup emergence, and IoT adoption. Key trends include data analytics, AI for efficiency, quantum computing for encryption, augmented reality, cloud desktops, and strategic partnerships.
Growing IoT device adoption to drive IT services market growth. IoT involves objects with sensors and connectivity for data exchange over the internet.
Leading firms in the IT services sector are rolling out innovative offerings that integrate artificial intelligence to deliver dependable services to their clientele.
6. Telecom Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/telecom-global-market-report
Key players in the telecom sector are launching innovative network solutions like Network-as-a-Service (NaaS) to stay ahead in the market competition.
Manufacturing and transportation firms' embrace of IoT tech propels telecom market growth. IoT comprises networked physical objects with embedded electronics, enabling data collection and exchange.
The telecom market has steadily grown from $2970.7 billion in 2023 to $3106.93 billion in 2024 (CAGR 4.6%), driven by increased internet users, 5G adoption, and SMEs embracing cloud computing. It is expected to reach $3898.79 billion by 2028 (CAGR 5.8%), fueled by smartphone penetration, e-commerce growth, urbanization, and government initiatives. Key trends include 5G deployment, digital twin integration, hardware innovation, satellite launches, AI and ML use, cloud adoption, and strategic partnerships.
7. AI In Media and Entertainment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/ai-in-media-and-entertainment-global-market-report
In 2023, North America led the AI in media & entertainment market. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. A key trend is the adoption of cloud-based applications and services, with major industry players leveraging these technologies to enhance sector capabilities and gain competitive advantages.
The AI in media & entertainment market has surged, from $13.79 billion in 2023 to $17.65 billion in 2024 (CAGR 28.0%), driven by AI-based copyright protection, content moderation, personalization, streaming, and game development. It is expected to reach $44.08 billion by 2028 (CAGR 25.7%), fueled by advanced personalization, AI content creation, AR/VR expansion, enhanced user interaction, and predictive analytics. Major trends include content protection, chatbots, AI editing, voice recognition, and analytics.
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