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The Global ICT Industry: Market Size, Growth Rate, Segmentation, and Future Outlook

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The global ICT industry, encompassing a wide range of technologies including software, hardware, telecommunications, and services, has seen significant growth over the past decade. As of 2024, the global ICT market is valued at approximately $6 trillion , and this figure is expected to grow steadily over the next few years. The market’s compound annual growth rate (CAGR) from 2021 to 2028 is projected to be around 5.3% . This growth is being driven by rapid technological advancements, the increasing adoption of digital services, and the ongoing digital transformation across various industries. One key driver behind the market's expansion is the growing importance of connectivity. With more people around the world gaining access to the internet and mobile technologies, demand for ICT solutions is at an all-time high. The COVID-19 pandemic also accelerated this trend, as companies and individuals embraced digital platforms for remote work, e-commerce, and online education. In terms