Global Information and Communication Technology Market

Global Information and Communication Technology Market Size Insights Forecasts to 2035

• The Global Information and Communication Technology Market Size Was Estimated at USD 525.45 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 6.41% from 2025 to 2035
• The Worldwide Information and Communication Technology Market Size is Expected to Reach USD 1040.44 Billion by 2035
• North America is expected to Grow the fastest during the forecast period.

According to a Research Report Published by Decisions Advisors and Consulting, The Global Information and Communication Technology Market Size was worth around USD 525.45 Billion in 2024 and is predicted to Grow to around USD 1040.44 Billion by 2035 with a compound annual growth rate (CAGR) of 6.41% from 2025 to 2035. The rapid growth of big data analytics, the increasing use of cloud computing, and the integration of AI and IoT across several industries are the main drivers of this rise. The increasing need for cloud-based services and solutions is one of the major drivers of the IT market's expansion.

 

Market Overview

The global industry that manufactures, provides, and integrates services, and networking solutions to facilitate information processing, storage, transmission, and management is known as the information and communication technology market. Computers, servers, mobile devices, cloud platforms, enterprise software, cybersecurity tools, data analytics, IT services and managed solutions are all included. Information and Communication Technology sectors deal with the storage, retrieval, transmission, and movement of data using computers, computer peripherals, and telecommunications equipment. It includes systems design services, computer networking, broadcasting, and information dissemination technologies like telephones and televisions. The most recent advancement in Information and Communication Technology services was the Internet of Things (IoT). The Internet of Things (IoT) is a network of physical objects, such as cars, gadgets, buildings, and other things, that are surrounded by electronics, sensors, software, and network connectivity, enabling them to communicate and gather data and use it for a variety of purposes.

 

Snowflake has begun advanced negotiations to purchase Observe Inc. for roughly $1 billion, which would be its biggest acquisition to yet. With the acquisition, Snowflake would enter the observability market and compete directly with Datadog, Dynatrace, and Splunk, which is owned by Cisco.

 

Amazon, Microsoft, and Google have pledged a combined $67.5 billion in AI investments in India, with 80% of that announced in December 2025 alone. The spending spree focuses on building massive data centres, training domestic talent, and expanding AI adoption among small businesses from October 2025.

 

Report Coverage

This research report categorises the information and communication technology market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the information and communication technology market. Recent market developments and competitive strategies, such as expansion, product launch, development, partnership, merger, and acquisition, have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyzes their core competencies in each sub-segment of the information and communication technology market.     

 

Driving Factors  

The market is undergoing considerable expansion, fueled by essential elements. A key driver is the increasing need for digital solutions and technologies throughout various sectors. This increased demand has resulted in market growth, with IT services playing a crucial role in helping businesses transition to the digital era. Prominent industry leaders are investing in cutting-edge IT solutions and services to address the changing needs of organisations, enhancing the market's favourable direction. Moreover, the market is experiencing a shift because of technological progress. Advancements in IT infrastructure, cloud services, and cybersecurity are fueling market expansion. Companies are increasingly focusing on digitalisation, data protection, and remote working features, resulting in the implementation of sophisticated IT solutions that improve efficiency and competitiveness. The evolution of technology standards and the critical nature of import transformation, the ongoing market growth is driven by the embrace of cutting-edge solutions.

 

Restraining Factors  

The IT market is confronted with a number of risks and difficulties despite the encouraging prospects. The lack of qualified IT specialists is one of the main obstacles. The speed at which technology is developing and the growing complexity of IT environments, managing and implementing IT solutions successfully requires highly qualified professionals.

 

Market Segmentation    

The information and communication technology market share is classified into component and deployment mode.     

• The hardware segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period.        

Based on the component, the information and communication Technology market is segmented into hardware, software, and services. Among these, the hardware segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. The need for edge computing devices, data centres, and high-performance computing continues to fuel a strong demand for cutting-edge hardware. Advanced processors and hyper-converged infrastructure are examples of hardware innovations that are driving this market's expansion.

 

• The cloud segment dominated the market in 2024 and is anticipated to grow at a substantial CAGR during the forecast period.      

Based on the deployment mode, the information and communication technology market is divided into on-premises and cloud. Among these, the cloud segment dominated the market in 2024 and is anticipated to grow at a substantial CAGR during the forecast period. Scalability, flexibility, lower capital costs, and accessibility are just a few benefits of this method. The need for organisations to facilitate remote work, quickly adjust to shifting market conditions, and take advantage of cutting-edge technology like artificial intelligence (AI) and big data analytics is driving the growing adoption of cloud computing. Its affordability and low IT infrastructure needs, cloud deployment is especially well-liked by small and medium-sized businesses (SMEs).

     

 

Regional Segment Analysis of the Information and Communication Technology Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is anticipated to hold the largest share of the information and communication technology market over the predicted timeframe.    

Asia Pacific is anticipated to hold the largest share of the information and communication technology market over the predicted timeframe. The main factors propelling the market's expansion in this area are the quickening pace of digitisation, rising IT expenditures, and the growing need for cloud services and IoT solutions in developing nations like China and India. The variety of programs and policies targeted at developing digital infrastructure and encouraging innovation, governments in the Asia Pacific nations are also crucially contributing to the adoption of IT.

 

India’s IT industry crossed the $200 billion mark in software and IT services exports (FY 2023–24). Leading publications like the National IT Technology Magazine have become central hubs for industry news, analysis, and trends, serving professionals across this rapidly expanding sector.

 

North America is expected to grow at a rapid CAGR in the information and communication technology market during the forecast period. This is driven by the early adoption of cutting-edge technologies, substantial IT spending, and the existence of large technological enterprises. The area is home to some of the biggest tech hubs in the world, such as Silicon Valley, which promotes innovation and draws significant funding for IT R&D. The IT market in North America is expanding due to a significant focus on digital transformation across several industries and a strong technological infrastructure.

 

Competitive Analysis:   

The report offers the appropriate analysis of the key organizations/companies involved within the information and communication technology market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.  

 

List of Key Companies

• Amazon Web Services (AWS)
• Apple Inc.
• Cisco Systems, Inc.
• Dell Technologies
• Google LLC
• Hewlett Packard Enterprise (HPE)
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• NVIDIA Corporation
• Oracle Corporation
• Samsung Electronics Co.
• SAP SE
• Sony Corporation
• Others  

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

 

Market Segment  

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Decisions Advisors has segmented the information and communication technology market based on the below-mentioned segments: 

 

Global Information and Communication Technology Market, By Component

• Hardware
• Software
• Services

 

Global Information and Communication Technology Market, By Deployment Mode

• On-Premises
• Cloud

 

Global Information and Communication Technology Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

 

Frequently Asked Questions (FAQ)

• What is the projected size of the Global Information and Communication Technology Market?

The market was valued at USD 525.45 billion in 2024 and is expected to reach USD 1040.44 billion by 2035.

 

• What is the forecasted CAGR for the market from 2025 to 2035?

The market is projected to grow at a compound annual growth rate (CAGR) of 6.41% during the forecast period.

 

• What are the main drivers of growth in the ICT market?

Key drivers include the rapid expansion of big data analytics, increasing adoption of cloud computing, and integration of AI and IoT across industries, alongside rising demand for digital solutions and cybersecurity.

 

• How is the market segmented by component?

The market is divided into hardware, software, and services. Hardware held the largest share in 2024 and is expected to grow at a significant CAGR, driven by demand for edge computing devices, data centres, and high-performance processors.

 

• What are the deployment modes in the market, and which dominates?

Segments include on-premises and cloud. The cloud segment dominated in 2024 and is anticipated to grow at a substantial CAGR due to its scalability, flexibility, lower costs, and support for remote work, AI, and big data analytics.

 

• Which region holds the largest market share, and why?

Asia-Pacific is expected to hold the largest share, fueled by rapid digitisation, rising IT spending, cloud and IoT adoption in countries like China and India, and supportive government policies for digital infrastructure.

 

• Which region is expected to grow the fastest?

North America is projected to grow at the fastest CAGR, supported by early adoption of advanced technologies, high IT investments, major tech hubs like Silicon Valley, and strong digital transformation across industries.

 

• Who are the key players in the market?

Major companies include Amazon Web Services (AWS), Apple Inc., Cisco Systems, Inc., Dell Technologies, Google LLC, Hewlett Packard Enterprise (HPE), IBM Corporation, Intel Corporation, Microsoft Corporation, NVIDIA Corporation, Oracle Corporation, Samsung Electronics Co., SAP SE, and Sony Corporation.