What is Capital ICT Spending Market?
In recent times, the penetration of high-speed internet connectivity and mobile devices has changed the world. The businesses are going to transform by leveraging advanced technologies to become competitive in the market. Further, the growing need to improve productivity, reduce downtime or failure, and enhance customer experience will accelerate the growth. ICT spending of the financial sector is likely to grow in the nearer future due to the increased adoption of FinTech, blockchain, and other technological advancements.
Highlights from Capital ICT Spending Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | IBM (United States), Dimension Data (South Africa), Microsoft Corporation (United States), Fujitsu (Japan), SAP (Germany), Grene Robotics (United States), Amazon (United States) and Salesforce (United States) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new product or service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Capital ICT Spending market throughout the forecasted period.
IBM (United States), Dimension Data (South Africa), Microsoft Corporation (United States), Fujitsu (Japan), SAP (Germany), Grene Robotics (United States), Amazon (United States) and Salesforce (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Cognizant, HP and IBM. Capital ICT Spending Market Segmentation:
Scope | Sub-Segments |
---|
Type | Cloud Computing, IoT, Robots & Drones, Collaboration Tools, AR/VR Headsets, Data Analytics and Others |
Components | Software,Hardware |
Vertical | BFSI,IT & Telecom,Healthcare,Manufacturing,Government & Defense,Energy & Utilities,Retail & E-commerce,Transportation & Logistics,Gaming,Others |
Organization Size | Small and Medium Businesses,Large Businesses |
Sales Channel | Online,Offline |
On the basis of geography, the market of Capital ICT Spending has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Focus on the Innovation and Launch of Cutting-Edge Solutions with Advanced Features
Market Growth Drivers:
Rapid Adoption of Digital Transformation of Businesses Across the Globe, Increased Adoption of Cloud Computing and Advanced Technologies Like Blockchain, AR/VR, AI, Etc. and Emerging New Norm of Remote and Hybrid Working Across the Globe
Challenges:
Limitations of Software Tools and Communication Difficulties
Restraints:
High Cost Associated with the Technologically Advanced Solutions and Lack of Awareness in the Rural Areas
Opportunities:
Evolution of 5G Network Technology, Metaverse and Web 3.0 Will Create Significant Opportunities and Increasing Government Spending in the Defense Sector Will Boost Demand for Robots & Drones
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, ICT Solution & Service Providers, Manufacturer of Advanced Technologies, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-User Industries and Others
Market Leaders & Development Strategies
In 2021, Salesforce.com, Inc. announced the acquirement of Slack Technologies to compete against long-time industry powerhouse Microsoft. Slack Technologies offers an enterprise collaboration platform that allows users to engage in direct messaging, group channel messaging, document sharing, and limited intra-organization voice-and-video-calling. The acquisition will help Salesforce.com to expand its new SaaS app portfolio across the globe.
In 2021, Grene Robotics developed an indigenous autonomous drone defense dome called Indrajaal. Indrajaal is an autonomous defense weapon system that uses technologies such as Artificial Intelligence, cybersecurity, and robotics to identify and counter threats. It is capable of protecting a large area of 1,000-2,000 sq km per system against threats such as UAVs, incoming weapons, loitering munitions and Low-Radar Cross Section targets autonomously. and In 2020, Amazon, the US-based e-commerce giant launched smart stores in India. Amazon is providing physical stores with software to maintain a digital log of the inventory they have in the shop, and supplying them with a QR code. The consumers can walk to the store and scan QR codes with the Amazon app. With this consumers can see everything the shop has to offer including any discounts and past reviews from customers.