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Information Technology

The Industry Today

The global information and communications technology market reached an estimated $4.7 trillion in 2022, according to International Data Corporation (IDC), a market research, analysis, and advisory firm. Software and information services will be the fastest-growing industry over the 2023-2027 forecast period, generating an 11.4 percent compound annual growth rate according to IDC. The majority of IT spending is made by businesses and enterprises.

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