Latest Data on the Size of the IT Industry Is Jaw Dropping
The Information Technology industry is without doubt one of the biggest creators of value in the world of modern business and over a period of a mere few decades, the industry has evolved into a giant that now has something to do with almost all industries in the world. However, there is more good news for anyone who is involved with the IT industry or anyone who holds stocks in a growing IT company since the latest report by CompTIA, an advisory group dedicated to the IT industry has valued the global industry at a jaw dropping $4 trillions.
The study specified the scope of the industry as a whole and the report published by the website ZDNet, stated, "CompTIA conducted its analysis based on research from a survey of 673 respondents along with data from IDC, EMSI, Burning Glass Technologies Labor Insights, U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, and others. Based on the data, CompTIA concludes that the global IT industry generates almost $4 trillion annually, including $1 trillion in the United States. In the US, IT employs over 5 million people." This is a report that will certainly put a smile across the face of most CEOs in the industry at a time when the global IT industry had been predicted to go through a downturn but the valuation of the industry does prove one thing that it is as robust as anything and perhaps has grown into the 'too big to fail' category considering the sort of influence it now has on global business.
It is interesting to note that telecom froms the biggest chunk of the US IT information with a share of 30% as far as revenues are concerned, while IT services comes in at second with 25% and the rest is made up of IT Hardware at 24% and software at 21%. 31% of the industry is concetrated in the United States, while Europe makes up for 24% however it should come as no surprise to anyone that Asia has now leapfrogged Europe and has a share of 29% in the global IT industry pie.
