What was once a fairly stable set of infrastructure products in a channel provider’s portfolio has, overlooked. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. If this number holds, it would represent 4.2% growth, signaling a return to the trend line that the industry was on prior to the pandemic. And that’s still true today – to a degree. After years of talk about the need to improve diversity within the high-tech workforce, the situation has not changed substantially. Industry Overview In 2020, the global information technology industry took a small step back in terms of overall revenue. They also represent best practices to enforce before investing in new market expansion and new customer acquisition. Get Information Technology Market Research Reports from leading publishers. For more information please view our. 16 Vignesh Ananthraj, “With microservices, SaaS firms are giving large vendors a run for their money,” TechCircle, February 8, 2019. 1 Joe McKendrick, “Hybrid cloud serves as bridge to our bright all-cloud future,” ZDNet, August 12, 2019. Through all the confusion, though, there are still some basic concepts that will shape the year to come. Availability of skilled talent has been a major reason behind India’s emergence as global outsourcing hub. in 10 channel firms said backlash against the tech industry was becoming more of an issue. throughout an organization rather than being concentrated with the IT function. The volume of threats and the constantly changing tactics of cyber criminals has shown that companies can’t even trust what’s happening inside the perimeter. The remaining 19% covers various emerging technologies that either don’t fit into one of the traditional buckets or span multiple categories, which is It is no surprise, then, that IT professionals overwhelmingly have a positive outlook for their job prospects. It’s not a nice to have, but a need to have. 11 Anne Taylor, “Edge computing is in most industries’ future,” Network World, April 23, 2019. In our 2018 Technology Industry Outlook, I emphasized the importance of cloud computing and flexible consumption models to organizations competitiveness. Throughout the pandemic, there has been a hunger for normalcy. PwC's Technology practice provides guidance in such areas as computers and networking, semiconductors, software, cloud computing, digital products, green IT, Internet Protocol telephony, business process modeling, metadata management, virtualization 2.0, mashup and composite apps, web platform and web-oriented architecture, computing fabricating, real world web, and social software. This goes beyond the near-term bottom line. If you think about it, no organization (whether corporate or government or non-profit) can survive without IT. Fair treatment for all is an absolute Is AI fundamental to the future of cybersecurity? The report also includes valuable information pertaining to the growth of the industry, market dynamics, profit margin, market share assessment, gross revenue, and market estimations for the Information Technology Security Services vertical for the years 2020 to 2026. Our annual industry analysis includes tech trends and an information technology industry overview. The United States is the largest tech market in the world, representing 33% of the total, or approximately $1.6 trillion for 2021. Companies Are Failing in Their Efforts to Become Data-Driven, How Data Management Helps Companies Deploy AI, Technology, Media & Telecommunications (TMT). 5G: Featured everywhere from telecom carrier commercials to the new iPhone launch, this next generation of cellular networking will definitely add new platform potential, but disruptive applications still need to be built. Information Technology Market Research Reports and Industry Analysis Management of a service that is responsible for the management of a huge collection of data itself is indeed challenging. The coming year will feature patching of quick pandemic fixes and revisiting of deferred investments. See Terms of Use for more information. The Healthcare IT or Healthcare Information Technology market was evaluated at $125 billion in 2015, and is estimated to reach $297 billion by 2022, with a CAGR of 13.2%. Nearly 3 in 10 MSSPs said they expect significant growth in the next two years, with just over half predicting modest growth. Finally, the entire operation must be monitored continuously, using data analysis techniques and machine learning algorithms to check for anomalies and report on overall health. However, the long-term trends As organizations emphasize social responsibility, the metrics and deliverables need to be public and certifiable. In 2019, these capabilities will likely become even more indispensable as companies strive to transform their business models and operations. Get up to speed on any industry with comprehensive intelligence that is easy to read. Technology: Industry Overview. Another sign of the uncertain The optimism comes from knowing that the future will be digital. One characteristic that makes the tech industry different from other leading sectors is the rapid rate of innovation taking place, leading to a complex landscape. working from home instead of a central office location. Information technology is applied in every aspect of economies, government, and society. modernization of the IT building blocks. IT is considered to be a subset of information and communications technology (ICT). However, since these noble endeavors are not producing the intended result, it’s time to consider something new. Today, the balance is much more even and the partner journey more nuanced. Another quarter expects to remain stable with 2020, though that could be a revenue level Across all four IT pillars, hiring companies are primarily targeting either early career (3-5 years of experience) or mid-level As of August 2020, the research consultancy IDC was projecting global revenue of $4.8 trillion for the year, compared to their original estimate of $5.2 trillion. The subtlety here is that the technology itself is not necessarily the objective. Twenty years ago, the technology industry was dominated by a handful of key infrastructure players such as IBM, Hewlett-Packard and Cisco, along with Microsoft on the software side of the house. Adding to the challenge of filling a broad range of skills, companies are generally looking for candidates with deeper expertise. The information technology industry is one of the most robust industries in the world. Copyright © 2019 Deloitte Development LLC. I t didn’t take long for the optimism of a new decade to wear off. What Renewal Options Are Available to You? Cloud-first is not the same as cloud-exclusive; very few companies will choose to place 100% of their applications and systems in the cloud. Second is resilience, being able to withstand disruptions from any angle. internal operations, including sales and marketing efforts. Additionally, business and tech consulting What’s interesting as we move into 2021 is that regulation is not only about the Googles, Amazons, etc. On the other hand, too much reliance on structure can quickly become a liability if the landscape changes again. About The Information Technology Industry Overview Version 3: Advantages the The Information Technology Industry Overview Version 3 toolkit has for you with this The Information Technology Industry Overview Version 3 specific Use Case: Meet Angel Ward, Senior Engineer, GIT Product Technology in Computer Networking, Greater Los Angeles Area. 13 Alex Hickey, “Cloud-only services lead growing PaaS market, CIO Dive,” March 4, 2019. It was mentioned in 2019 as part of a group with 5G and edge computing that would define modern IT architecture, then it was absent from the list completely in 2020. Although infrastructure projects may command more time and energy in 2021, the general direction will Zero trust is emerging as the new paradigm that guides all the new practices. The next step is recognizing that data and applications need to be secured individually, and user access needs to be defined at a granular level. For many, that means getting On the upside, technology firms are planning to capitalize on the ongoing Industry Profiles. Now considered a key industry within the UK's fast-growing digital sector, skilled graduates can choose from the range of information technology (IT) careers on offer. 22 William Dixon, Nicole Eagan, “3 ways AI will change the nature of cyber attacks,” World Economic Forum, June 19, 2019. The economy is showing some signs of stability, but there are lingering fears over continued challenges or further surprises. Heading into 2021, there is little precedent for projecting the future. For cybersecurity and data, the situation is more complicated. Now that they are distinct functions, there are difficulties in creating the pipeline for more advanced talent. In today’s environment, though, other skills are becoming essential to even the techiest of the tech staff inside organizations. How countries are pursuing an AI advantage,” Deloitte, May 2, 2019. regulation as a potential issue, while 43% fear greater scrutiny from customers, presumably just because their business is in the tech sector. Broadly speaking, technologies like internet of things (IoT) or artificial intelligence (AI) are not standalone pieces like the offerings of the past. Moving forward, the question around emerging technology is not, “How do you sell this technology?” or, “How do you stand up this technology?” but, “How do you use this technology to craft a unique solution?” As with all strategic IT, answering this question requires both an understanding of the technology and an understanding of business operations. It’s the career discipline responsible for storing information, protecting information, processing the information, transmitting the information as necessary, and later retrieving information … Starting with infrastructure, most companies look to be getting back to basics in the year ahead. More than 40 percent of the $5 trillion global IT market is in North America, primarily the United States. Cloud computing has slowly been fading from CompTIA’s annual trend list. Explore information technology industry in terms of market size, share, analysis, forecast, trends, industry growth & global market along with market research reports covering internet of Things (IoT), mobility, digital, software-defined, cloud, artificial intelligence and others. The Washington based Information Technology Industry Council advocates for the high tech sector, using its insight and influence to create innovative policy. Despite current pandemic conditions, many channel firms are nonetheless on the hunt for new employees, particularly those with skills in certain areas such as emerging tech (IoT, There are a number of taxonomies for depicting the information technology space. A zero trust mentality is something that many managed services providers are beginning to understand in earnest. Several industry are associated with information technology, such as computerhardware, software, electronics, semiconductors, internet, telecom equipment, e-commerce and computer service. This year, it’s all about outside forces, whether it is the virus and its impact on business viability, especially in the case of additional lockdowns, or other unexpected factors such as natural disasters or an unforeseen, CompTIA’s IT Industry Outlook 2021 provides insight into the trends shaping the industry, its workforce and its business models. critical than ever: security expertise. The Information and Communications Technology (ICT) industry can be seen as comprising three main areas: Information technology – this covers all areas related to processing, manipulating and managing information. Over the ensuing decades, many corporations created so-called "IT departments" to manage the computer technologies related to their business. The half glass full crowd (37%) expect that they will grow revenue in 2021 in excess of both 2020 and 2019 results. Ultimately, DXC’s broad portfolio of platforms and solutions helps organizations succeed in the age of digital transformation. The information technology (IT) sector is comprised of companies that produce software, hardware or semiconductor equipment, or companies that provide internet or related services. Rather, information technology, of which software and services is an integral part, has become inseparable from a business's daily operations, cushioning the effect of the downside of the business cycle. It was their calling card in every sales pitch. markets, or fight to keep their business afloat. The four pillars interact in unique ways, and these overlaps define how business solutions At a general level, many things haven’t changed for the channel. The three major industry groups within the IT sector are software and services, technology hardware and equipment and semiconductors and semiconductor equipment. As companies build out their software capabilities, they will drive more interaction between software development and infrastructure operations. All of this is a drastic departure from the belief that a strong secure perimeter will keep all the bad stuff on the outside. What does this mean for tech businesses heading into 2021? both IT professionals and IT channel firms. Whatever these departments worked on became the de facto definition of Information Technology, one that has evolved over time. and cost containment, while not the most exciting, are necessary for optimal profitability. emerging tech acumen. The information has constantly been accumulating and newer methods are being originated for its storage, categorization, organization, and distribution. Download the full report or listen to the podcast to learn more about the biggest trends across the technology sector. The United States has the most advanced software and information technology (IT) services industry in the world. The IT industry in India is a key part of the country’s economy. 6 Anthony Spadafora, “Companies don't think their cloud can keep up with security,” TechRadar, August 7, 2019. higher or much lower – the percentages are only in single digits. On the other hand, the silver lining is that most budgets aren’t getting cut, even It has an elevated productivity mainly in the developed world. Countries that are not quite as far along in these areas tend to allocate more spending to traditional Executives cite robust customer demand and the uptake of emerging product and service categories … This represents a slight drop in sentiment from last year, with most of the shift going from the optimistic end of the scale into mixed feelings. Discover Deloitte and learn more about our people and culture. Similarly, with new and innovative products and services, US companies can further increase their global reach. several years, as companies have moved away from a traditional mindset around tactical IT. Finally, the field of data is not set up to be a dedicated function as often as cybersecurity, but it is still a field where businesses are trying to establish comprehensive policies and management. Knowledge is power, but only useful if staff are educated about what they need to know to remain in compliance. Channel firms in the coming year will need to assess their own offerings and capabilities in direct relation to customer needs in this new, uncertain environment. IT industry employees 4.1 million people as of FY19. Please see www.deloitte.com/about to learn more about our global network of member firms. Unfortunately, it also creates a nasty problem for cybersecurity. The number of jobs created directly by the software industry has increased 14.6 percent since 2014. Visit www.CompTIA.org for past versions of the IT Industry Outlook and an extensive library of research and educational content. Latest CompTIA Blog Posts . Top of mind are any continued business struggles as the COVID epidemic drags on. After years of emerging tech being in the spotlight, the pattern for adoption has become more Times have now changed and the main shift is in the supply chain relationship dynamic. From a business model perspective, a new focus around business consulting skills is one way to maintain value to customers. Other channel firms Instead of trusting any network behavior or user access that appears to come from a secure location, everything must be verified. devices redefined expectations around software usability, and many companies are still climbing the learning curve. Companies in this industry provide services such as software support, computer systems design, and data processing facilities management. While the technology industry is heading toward more regulation, many companies have been somewhat slow to fully embrace compliance processes. The traditional categories of hardware, software and services account 8 Ibid. As companies become more comfortable with a zero trust framework, they will also gain an appreciation for the new investments they have to make, the new processes they have to build, and the new skills they need to acquire. Less? on new headcount in 2021, compared to 75% that plan on pursuing training options and 54% that plan on certifying their workforce. From a revenue perspective, fingers are crossed. Budgets, after all, can be adjusted as the year goes on, depending on circumstances positive or negative. Nearly another quarter of respondents acknowledge that 2020 led to lost revenue, but they predict a return to 2019 levels this coming year. For partners, that means their calling card is no longer the vendors they sell or work with, but rather their own branding, marketing and value. Security assessments, integration requirements and provider comparisons will be par for the course rather than viewed as clunky overhead, and cloud will be the foundation for rebuilding efforts. Rather, information technology, of which software and services is an integral part, has become inseparable from a business's daily operations, cushioning the effect of the downside of the business cycle. All Information Technology investments from Fidelity . Given the volatility of 2020, annual budgeting is a top of mind issue for many channel firms as they attempt to forecast sales, ponder new Overview 1 Industry Profile 7 Initiatives in Information Technology Sector 17 Technology & Application Development 24 Human Resource Development 42 Infrastructure 48 Societies 56 National Informatics Centre (NIC) 79 Public Sector Units 102 Promotional Matters … Information Technology in India is an industry consisting of two major components: IT services and business process outsourcing (BPO). Looking at each area individually highlights the layers of complexity that companies are dealing with as they try to build the best skills within their workforce. 2019 Worldwide IT Market (Information Technology) Industry Overview, Trends and Key Players Analysis. Three in 10 channel firms are retraining existing staff for open positions or to address new areas of focus, for example. In 2019, that same year, the information technology industry was estimated to be worth five trillion U.S. dollars worldwide. 5 Ian Barker, “Half of companies won't move mission critical workloads to the cloud,” BetaNews, August 2019. Indian IT-ITES industry grew at a rate of 33 % in FY2008. New concerns that stem from a remote workforce have been a primary trigger for both security awareness education and security investments. Only 37% of companies expect to bring But the media attention on this is far dimmer than in 2019, overshadowed by the pandemic and its impact. These are valid, core needs for companies and critical for the people they employ in these roles. sectors such as retail, construction and transportation. the list, but that is more understandable. In 2021, that category will strengthen. And while this was a pre-pandemic finding, the emphasis on cybersecurity skills – and customer demand for them – has only grown. Whether it’s the debate over breaking up the largest tech companies, establishing clear legal ramifications and penalties for the exposure of sensitive user data, or figuring out how to thwart foreign countries from using social media to meddle in elections, the topic of regulation is front and center. This phenomenon, along with the aforementioned need to support the shift to remote work, provides some clear avenues of opportunity for channel firms As of August 2020, the research consultancy IDC was projecting global revenue of $4.8 trillion for the year, compared to their original estimate of That said, mining existing customers Along with budgeting comes the human factor: staffing, skills gaps, etc. digitalization of business, whether that is expanding engagements with their current customer base or reaching into new segments. On one hand, IT pros already felt like budgets were being strained, and that situation doesn’t seem to be improving. Information Technology Industry of India - Read about the scenario of software or IT industry in India, overview of the top IT companies of India and Challenges faced by the IT sector in India. Sadly, the impact of the virus was For example, a managed services provider may well need more tech staffing now that a majority of its customers are Following an incredibly difficult year, IT pros head into 2021 with uncertainty but also with optimism. Customers rely more on their providers of technology, aka channel partners, because with cloud, much of the actual vendor technology is abstracted from their view. (See Appendix for more). The business model, technology focus, and type of customers served will greatly influence the staffing needs of the typical channel firm. Titans of tech, particularly social media CEOs, continue to be taken to task in Washington, D.C. by government 24 Jeff Loucks, Susanne Hupfer, David Jarvis, Timothy Murphy, “Future in the balance? It’s not adversarial, but rather more balanced. There has never been more demand for technical skills, but it is also critical to remember that businesses need guidance in a digital world. their existing specialization. As with last year, IT pros see a bright outlook thanks to the high demand for skills, driven by the increasing importance of technology to business strategy. The focus on a higher level of experience may make sense in the areas of infrastructure and software development, where businesses the entry level skills. Consider the Louisiana Act 117 – Senate Bill 273, a recently signed law that requires all managed service providers (MSPs) that work for public bodies to register with Louisiana state authorities. A 1958 article in Harvard Business Review referred to information technology as consisting of three basic parts: computational data processing, decision support, and business software. The Business Research Company. The app approach that became widespread with the explosion of mobile He decides to interest and to … In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. The emphasis on data management and policies shows that businesses are beginning to take a more comprehensive approach to their Looking even contributor, accounting for approximately one of every five technology dollars spent worldwide. At first glance, hiring new staff would seem to be a straightforward way to solve the problem of doing more with less. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. current economic climate where finding new customers may be challenging, considering that many of the SMB customers the channel targets have been existing in cost-cutting or frozen-budget mode during the pandemic. bandwidth for these devices to communicate. 15 Ron Miller, “Enterprise SaaS revenue hits $100B run rate, led by Microsoft and Salesforce,” TechCrunch, June 28, 2019. [5]The impact of ICT assets, measured as the value of ICT-capital services a… Increasing investments in robotic automation, growth in IoT devices market and implementation AI solutions are some of the other factors augmenting global big data technology market demand. Nearly 80% of IT pros feel good about their role as a technologist, with 20% having mixed feelings and a very small minority feeling concerned. Overview CompTIA AITA, a major information technology (IT) industry trade association defines IT as the “utilization of computing via hardware, software, services, and infrastructure to create, store, exchange, and leverage information in its various forms to accomplish any number of objectives. The budget tale for 2021 has two sides. have likely built a hierarchy of skills over time. The end result, though, may be immeasurable as companies reap the benefits of multiple perspectives and support equal opportunity for all groups. For 2021, cloud is back and no longer needs to share the spotlight with other trends. Add in uncertainty around the U.S. political landscape, News Provided By. For those hiring externally, some are conducting recruitment efforts that seek out a more diverse applicant pool. First is technical skill within further into the future, IDC expects the pattern to continue, estimating a 5% compound annual growth rate (CAGR) for the industry through 2024. For example, most businesses will not have an IoT strategy; they will implement IoT components in their strategy for inventory management or property operations. Information technology (IT) is the use of computers to store, retrieve, transmit, and manipulate data or information.IT is typically used within the context of business operations as opposed to personal or entertainment technologies. The one standout is infrastructure, where firms also have high interest in entry-level positions. without disrupting workflow. As companies place more of their IT architecture in the cloud and consider new options for their workforce, networking performance becomes more critical. As far as cutting-edge technologies, Others made it through by a combination of resourcefulness, adequate cash reserves and innovation. Staying up to date on technology will help IT pros build advanced solutions, while improving business acumen and communication skills will help them influence the strategy that uses those solutions. Depending on your viewpoint and type of business, this is either a negative or a positive – or a little bit of both. Instead of setting hard rules for how the business will operate, organizations must now juggle a multitude of options, from employee locations to supply chain components to customer demands. for additional revenue rings especially true with managed services providers for whom upselling additional types or tiers of services is often the key to growing revenue and profit margin. A brief overview of Africa’s tech industry – and 7 predictions for its future. They are simply not hearing about it as much. Explore information technology industry in terms of market size, share, analysis, forecast, trends, industry growth & global market along with market research reports covering internet of Things (IoT), mobility, digital, software-defined, cloud, artificial intelligence and others. What areas of IT can I work in? More than last year? Much of this is due to the emergence and staying power of cloud computing and the as-a-service nature of how channel firms do business today. on AI and mobile development is less due to a shift away from long-term projects and more due to the fact that many companies do not need these specializations as core competencies. How countries are pursuing an AI advantage,” Deloitte, May 2, 2019. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities.
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