Information Technology

Gone are the days of hearing your loved one’s voice or seeing their face a couple of times a year. The IT sector has changed the way of living forever. The information which used to take years of reading is now available at fingertips with the help of the internet. Historic modes of communication like newspapers, libraries, radios, telegrams have become obsolete with the exponential rise in the Information Technology Sector. Work from home has become a common term now with the advent of futuristic progress in Information Technology.

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• The Global Information Technology sector was valued at $7,850.57 billion in 2020 and has seen a tremendous rise to $8,370.95 billion in 2021 with a CAGR of 6.6% approximating to 15% of world’s GDP.

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• Covid-19 pandemic has boosted the use of IT through conversion of long-term basic activities in digitised form like teaching, virtual meetings and cloud-based work structures.

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• The IT sector is segmented into IT services, computer hardware, telecom and software products.

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• IBM, Microsoft, Oracle, Accenture and HP are companies which have become a household name in the IT sector recording valuations at over $100 billion.

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• IT sectors provides immense employment worldwide with highly lucrative packages for IT professionals being attracted to established IT countries like USA, Canada, UK and Australia.

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