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What is the technology industry worth?
We are living in the age of technology and that automatically makes the technology industry a very important one. The tech industry had a revenue influx of $4 trillion in the year 2019. To help you fathom what that number is, it is just a few billion less than the US annual budget that hit the record high in 2020 at $4.829 trillion.
Is the technology industry growing?
The tech industry that was worth a hefty $4 trillion in the year 2019 is expected to grow at a rate of 4% to be worth $5 trillion this year. The industry does have an upside potential of having as high as 6.5% growth rate if the circumstances remain favorable or it might drop to a 1.5% rate of growth due to global trade issues such as the one going on right now because of COVID-19.
How much is the tech industry worth 2019?
In 2019, the tech industry had a total worth of $4 trillion USD. It is a big number but you are looking at the total business done by Apple, Google, Samsung, and countless other companies in the last year. We are becoming more and more dependent on tech and that is giving an exponential growth to tech and IT industry.
What is latest technology in IT industry?
The recent trend in the IT industry is that of AI. A number of remarkable countries from all over the world are working on AI to make it progress and to make it more and more “intelligent.” Other latest technologies in the IT industry include robotics, automation and augmented reality.