Technology Industry
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A Technology Industry is an industry that focuses on the development, production, and marketing of tech products and tech services, contributing significantly to global economic growth. It encompasses various sectors such as information technology, consumer electronics, and digital services.
- Context:
- It can (typically) include Information Technology Companies and utilize various Information Technology Concepts like cloud computing, artificial intelligence, and data analytics.
- It can (typically) be composed of sub-industries such as the Software Industry, Hardware Industry, and IT Services Industry, which produce products like software applications, hardware devices, and cloud infrastructure.
- It can (often) drive innovation in other sectors like healthcare (through digital health), finance (via fintech), and education (through edtech solutions).
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- It can be associated with the Electronics Industry, including areas like the Consumer Electronics Industry, producing devices such as smartphones and laptops.
- It can play a critical role in economic development, contributing to GDP, employment, and technological innovation.
- It can be influenced by global trends like regulatory changes, advancements in cybersecurity, and shifts toward sustainable technology practices.
- It can face challenges such as concerns over data privacy, cybersecurity threats, and the need to adapt to emerging regulations.
- It can involve both large multinational companies and small, innovative startups working on cutting-edge technologies.
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- Example(s):
- An AI Industry focused on artificial intelligence solutions that automate processes across multiple sectors.
- A Robotics Industry that develops advanced robotics technologies for manufacturing, healthcare, and consumer markets.
- A LegalTech Industry that provides cloud-based legal management software to improve efficiency in law firms.
- A Fintech Industry that leverages technology to create innovative financial services, such as digital banking and blockchain-based payment systems.
- A HealthTech Industry that produces digital tools for medical diagnostics, patient management, and healthcare delivery, driving innovation in medical care.
- An EdTech Industry that creates technological solutions aimed at improving educational outcomes and learning experiences.
- A PropTech Industry that uses technology to improve property management, real estate transactions, and tenant experiences.
- A Biotech Industry focused on harnessing technology for biological research, pharmaceuticals, and genetic engineering.
- A Gaming Industry that develops video games, virtual reality (VR) systems, and gaming platforms for entertainment and competitive play.
- A Cleantech Industry that focuses on creating environmentally friendly technologies for energy efficiency, renewable energy, and sustainable practices.
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- Counter-Example(s):
- A Fashion Industry, which centers around clothing and design rather than technology production.
- The Advertising Industry, focused on media, branding, and marketing services rather than tech-based products.
- The Entertainment Industry, which deals more with content creation and media distribution rather than developing technological infrastructure.
- See: Cloud Computing, Cybersecurity, Artificial Intelligence, Consumer Electronics, Software Development Life Cycle, Tech Startup, Digital Transformation, Telecommunications Industry
References
2020
- (Wikipedia, 2020) ⇒ https://en.wikipedia.org/wiki/Information_technology Retrieved:2020-10-26.
- Information technology (IT) is the use of computers to store, retrieve, transmit, and manipulate data or information. IT is typically used within the context of business operations as opposed to personal or entertainment technologies. IT is considered to be a subset of information and communications technology (ICT). An information technology system (IT system) is generally an information system, a communications system or, more specifically speaking, a computer system – including all hardware, software and peripheral equipment – operated by a limited group of users. Humans have been storing, retrieving, manipulating, and communicating information since the Sumerians in Mesopotamia developed writing in about 3000 BC, but the term information technology in its modern sense first appeared in a 1958 article published in the Harvard Business Review; authors Harold J. Leavitt and Thomas L. Whisler commented that "the new technology does not yet have a single established name. We shall call it information technology (IT)." Their definition consists of three categories: techniques for processing, the application of statistical and mathematical methods to decision-making, and the simulation of higher-order thinking through computer programs. The term is commonly used as a synonym for computers and computer networks, but it also encompasses other information distribution technologies such as television and telephones. Several products or services within an economy are associated with information technology, including computer hardware, software, electronics, semiconductors, internet, telecom equipment, and e-commerce. Based on the storage and processing technologies employed, it is possible to distinguish four distinct phases of IT development: pre-mechanical (3000 BC – 1450 AD), mechanical (1450–1840), electromechanical (1840–1940), and electronic (1940–present). This article focuses on the most recent period (electronic).
2017
- (Wikipedia, 2017) ⇒ https://en.wikipedia.org/wiki/information_technology#Commercial_and_employment_perspective Retrieved:2017-5-26.
- Companies in the information technology field are often discussed as a group as the "tech sector" or the "tech industry". In a business context, the Information Technology Association of America has defined information technology as "the study, design, development, application, implementation, support or management of computer-based information systems". The responsibilities of those working in the field include network administration, software development and installation, and the planning and management of an organization's technology life cycle, by which hardware and software are maintained, upgraded and replaced. The business value of information technology lies in the automation of business processes, provision of information for decision making, connecting businesses with their customers, and the provision of productivity tools to increase efficiency.
- Companies in the information technology field are often discussed as a group as the "tech sector" or the "tech industry". In a business context, the Information Technology Association of America has defined information technology as "the study, design, development, application, implementation, support or management of computer-based information systems". The responsibilities of those working in the field include network administration, software development and installation, and the planning and management of an organization's technology life cycle, by which hardware and software are maintained, upgraded and replaced. The business value of information technology lies in the automation of business processes, provision of information for decision making, connecting businesses with their customers, and the provision of productivity tools to increase efficiency.