IT & Ecommerce Sector

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Global IT & eCommerce Industry

The global technology industry is one of the fastest-growing industries in the world and is estimated to reach $5.2 trillion in 2021, according to industry estimates. The industry is primarily driven by the growth of the Internet of Things (IoT), cloud computing, and artificial intelligence, which generated an estimated $1.9 trillion in revenue by 2020. The Asia-Pacific region is the largest market for IT & eCommerce, accounting for around 37% of the global market share.

IT & eCommerce in India

As far as IT & eCommerce in India is concerned, note that it is the second-largest market for IT & eCommerce in the world, and reached a market size of $136.7 billion in the last few years. The industry is expected to reach $228.2 billion in 2025, growing at a CAGR of 11.1% during 2020-2025.

Sectors that come under IT & eCommerce Industry 

The IT (Information Technology) and ecommerce industry includes several sectors such as:

 Software development and engineering

The global software development services market size is expected to reach $532.42 billion by 2026, growing at a CAGR of 8.5% during the forecast period.

Web and mobile application development

The global mobile application market size was valued at $365 billion in 2019 and is expected to reach $935 billion by 2027, growing at a CAGR of 12.1% during the forecast period.

  Cloud computing

The global cloud computing market size was valued at $371.4 billion in 2020 and is expected to reach $988.2 billion by 2025, growing at a CAGR of 21.3% during the forecast period.

 Data analytics and management

The global big data analytics market size was valued at $33.7 billion in 2019 and is expected to reach $190.4 billion by 2025, growing at a CAGR of 29.8% during the forecast period.

  Artificial Intelligence and Machine Learning

The global artificial intelligence market size was valued at $16.06 billion in 2018 and is expected to reach $190.61 billion by 2025, growing at a CAGR of 36.5% during the forecast period.

 

  E-commerce platforms and marketplaces

The global e-commerce market size was valued at $4.9 trillion in 2020 and is expected to reach $6.5 trillion by 2023, growing at a CAGR of 10.9% during the forecast period.

 Payment gateway and financial technology (FinTech)

The global fintech market size was valued at $127.66 billion in 2020 and is expected to reach $309.98 billion by 2025, growing at a CAGR of 19.3% during the forecast period.

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