Global ICT market share 2013-2024, by selected country

As of 2024, the U.S. region accounted for 38 percent of the global information and communication technology (ICT) market share. China and the EU ranked as the second and third biggest regions, each accounting for a market share of over 10 percent. 

ICT Industry Overview

Ranking as one of the largest industries in the world, the ICT market is forecasted to reach a size of 5.5 trillion dollars in 2022, and almost six trillion by 2023. The continuous growth serves as another reminder of the ever-increasing prevalence and importance of technology in today’s society. In general, growth in traditional tech spending over the next few years will be driven foremost by big data and analytics, social, mobile, and cloud computing.

The ICT market is typically defined to encompass technologies related to both computer and telephone networks, along with the relevant software, hardware and services. As of 2020, the telecommunications category ranks as the highest revenue generating segment of the ICT market, while “new technologies”, which includes AR/VR and robotics, ranks as the fastest growing category. Notably, next-generation security technologies that provide integrated security solutions will also be an area of investment in the future.