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Sector Analysis
United States (US) Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)
US Enterprise ICT Market Overview The US enterprise ICT market size was pegged at $1,230.3 billion in 2022 and is expected to grow at a CAGR of more than 8% during 2022-2027 to $1,838.3 billion in 2027. The growth of ICT services in the US is being driven by the increasing digitization of the economy, the rise of emerging technologies, the growing importance of data, and the need for flexibility and agility. ICT services are creating jobs, boosting productivity, and...
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Sector Analysis
Utilities Sector Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)
Utilities Sector Enterprise ICT Market Overview The utilities sector enterprise ICT market size was pegged at $118.3 billion in 2022 and is expected to grow at a CAGR of over 10% during 2022-2027 to $196.6 billion in 2027. With rising competition in the utilities market, companies are expected to increase their ICT spend as digital technologies enable them to remain competitive and relevant in the market by allowing them to develop products as per consumer needs, lower operational costs, and...
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Sector Analysis
Retail Sector Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)
Retail Sector Enterprise ICT Market Overview The retail sector enterprise ICT market size was pegged at $255.9 billion in 2022 and is expected to grow at a CAGR of over 10% during 2022-2027 to $425.6 billion in 2027. Retailers are increasingly adopting ICT solutions to enhance customer experiences, streamline operations, and stay competitive in the rapidly evolving market. The convergence of online and offline channels, along with the demand for frictionless omnichannel experiences, is propelling retailers to invest in ICT...
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Sector Analysis
Manufacturing Sector Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)
Manufacturing Sector Enterprise ICT Market Overview The manufacturing sector enterprise ICT market size was pegged at $414.5 billion in 2022 and is expected to grow at a CAGR of over 9% during 2022-2027 to $642.1 billion in 2027. With rising competition in the manufacturing market, companies are expected to increase their ICT spend as digital technologies enable them to remain competitive and relevant in the market by allowing them to quickly develop products as per consumer needs, lower operational costs,...
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Company Insights
NewPing An Insurance (Group) Company of China – Digital Transformation Strategies
Ping An Digital Transformation Strategies Overview Ping An is tapping into the power of artificial intelligence (AI) to improve its business efficiency. AI, big data, cloud, and blockchain are among the key technologies under focus for the company. The annual ICT spending of Ping An was estimated at $2.8 billion in 2023. A major share of this spending is earmarked for acquiring software, network and communications, and hardware from vendors. Ping An Insurance (Group) Company of China (Ping An) is...
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Company Insights
NewLiberty Mutual Holdings Company – Digital Transformation Strategies
Liberty Mutual Holdings Company Digital Transformation Strategies Overview Liberty Mutual is utilizing AI and machine learning to improve its underwriting processes. AI, big data, cloud, blockchain, and IoT are among the key technologies under focus for the company. The annual ICT spending of Liberty Mutual was estimated at $1.1 billion in 2023. A major share of this spending is earmarked for acquiring software, network and communications, and hardware from vendors. Liberty Mutual Holding Company (Liberty Mutual) is a property and...
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Sector Analysis
Energy Sector Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)
Energy Sector Enterprise ICT Market Overview The energy sector enterprise ICT market size was pegged at $158.6 billion in 2022 and is expected to grow at a CAGR of over 14% during 2022-2027 to $309.2 billion in 2027. The global revenue opportunity for ICT in the energy sector is substantial and growing. Companies are expected to increase their ICT spend as digital technologies enable them to remain competitive and relevant in the market, optimize energy infrastructure, and improve overall operational...
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Sector Analysis
Foodservice Sector Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)
Foodservice Sector Enterprise ICT Market Overview The foodservice sector enterprise ICT market size was pegged at $76.3 billion in 2022 and is expected to grow at a CAGR of over 9% during 2022-2027 to $120.9 billion in 2027. With rising competition in the foodservice market, companies are expected to increase their ICT spend as digital technologies enable them to remain competitive and relevant in the market by allowing them to quickly develop products as per consumer needs, lower operational costs,...
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Sector Analysis
Healthcare Sector Enterprise ICT Market Analysis and Future Outlook by Segments (Hardware, Software and IT Services)
Healthcare Sector Enterprise ICT Market Overview The healthcare sector enterprise ICT market size was pegged at $165.8 billion in 2022 and is expected to grow at a CAGR of over 10% during 2022-2027 to $277.2 billion in 2027. With rising competition in the healthcare market, companies are expected to increase their ICT spend. Digital technologies enable them to remain competitive and relevant in the market by allowing them to quickly develop products as per consumer needs, lower operational costs, and...
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Thematic Analysis
NewAutonomous Vehicles in Insurance – Thematic Intelligence
Autonomous Vehicles in Insurance Report Overview The emergence of Level 4 and 5 autonomous vehicles will alter how liability is determined in the motor insurance sector. Countries are updating traffic regulations to consider how self-driving vehicles should be legislated once driver fault is no longer a cause of incidents. Before Level 4 autonomous vehicles become mainstream, vehicles will be increasingly fitted with advanced driver assistance systems (ADAS) such as autonomous emergency braking (AEB) and automated lane-keeping systems (ALKS). Many insurers...