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The North America ICT market attained a value of around USD 1.86 trillion in 2023. It is projected to grow at a CAGR of 8.0% during 2024-2032 to reach USD 3.72 trillion by 2032.
North America ICT Market Report Summary | Description | Value |
Base Year | USD Trillion | 2023 |
Historical period | USD Trillion | 2018-2023 |
Forecast Period | USD Trillion | 2024-2032 |
Market Size 2023 | USD Trillion | 1.86 |
Market Size 2032 | USD Trillion | 3.72 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 8.0% |
CAGR 2024-2032 - Market by Region | United States | 8.4% |
CAGR 2024-2032 - Market by Industry Vertical | BFSI | 9.1% |
CAGR 2024-2032 - Market by End Use | Small and Medium Enterprises | 10.4% |
Market Share by Country 2023 | Canada | XX% |
In 2021, Canada’s ICT sector contributed $104.5 billion to the national GDP, constituting 5.3% of the overall economic growth. Value addition of $1 million in the ICT sector generates an additional value of $862,000 in Canada. In 2021, the manufacturing of computers and peripheral equipment recorded a year-on-year growth of 25.2%, posting the fastest annual GDP growth rate among all ICT companies. The manufacturing of semiconductors and electronic components (17.2%), and communications equipment (15.6%) also recorded tremendous growth.
Canadian exports of ICT goods surged by 4% in 2021, with the demand for computer equipment and electronic components recovering quickly post the COVID-19 pandemic. The United States accounted for over 66% of all exports and imported goods worth $6.4 billion in 2021. Canadian exports of ICT goods to the EU recorded a significant growth (20.3%). Service industries like computer systems design and data processing also hold promising opportunities for major ICT players in the market.
The wireless and mobile networks industry in the United States spent over $11 billion for capacity building in 2022, with total expenditure on network operation topping $46 billion. As per the Wireless Infrastructure Association, the USA has 142,100 operational cellular towers, 452,200 outdoor small cell nodes, and over 200,000 macrocell sites, which is expected to witness further expansion, thereby leading to the market growth.
North America ICT Market Report and Forecast 2024-2032 provides an in-depth analysis of various market segments mentioned below:
Market Breakup by Type
CAGR 2024-2032 - Market by | End Use |
Small and Medium Enterprises | 10.4% |
Large Enterprises | XX% |
Market Breakup by Enterprise Size
CAGR 2024-2032 - Market by | Industry Vertical |
BFSI | 9.1% |
IT and Telecom | 8.6% |
Government | XX% |
Retail and E-Commerce | XX% |
Manufacturing | XX% |
Others | XX% |
Market Breakup by Industry Vertical
CAGR 2024-2032 - Market by | Region |
United States | 8.4% |
Canada | XX% |
Market Breakup by Country
Based on industry vertical, the market is divided into retail and e-commerce, IT and telecom, energy and utilities, BFSI, government, and manufacturing, among others. Over the forecast period, the IT and telecom and the BFSI sectors are expected to grow at a CAGR of 8.6% and 9.1%, respectively. This can be attributed to the rising digitalisation of banking services and the expansion of IT infrastructure in North America.
Major private companies are expected to expand their presence in the United States and Canada to drive their development.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Enterprise Size |
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Breakup by Industry Vertical |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global ICT Market Overview
8.1 Key Industry Highlights
8.2 Global ICT Historical Market (2018-2023)
8.3 Global ICT Market Forecast (2024-2032)
8.4 Global ICT Market Breakup by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America ICT Market Overview
9.1 Key Industry Highlights
9.2 North America ICT Historical Market (2018-2023)
9.3 North America ICT Market Forecast (2024-2032)
10 North America ICT Market by Type
10.1 Hardware
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Network Switches
10.1.3.2 Routers and WLAN
10.1.3.3 Servers and Storage
10.1.3.4 Others
10.2 Software
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 IT and Infrastructure Services
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Telecommunication Services
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 North America ICT Market by Enterprise Size
11.1 Small and Medium Enterprises
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Large Enterprises
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 North America ICT Market by Industry Vertical
12.1 BFSI
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 IT and Telecom
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Government
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Retail and E-Commerce
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Manufacturing
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Energy and Utilities
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 North America ICT Market by Country
13.1 United States
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Canada
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IBM Corp.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Microsoft Corp.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Cisco Systems Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Google LLC
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 AT&T Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Capgemini SE
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Oracle Corp.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Verizon Communications Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Adobe Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Comcast Corp.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global ICT Market: Key Industry Highlights, 2018 and 2032
2. North America ICT Market: Key Industry Highlights, 2018 and 2032
3. North America ICT Historical Market: Breakup by Type (USD Trillion), 2018-2023
4. North America ICT Market Forecast: Breakup by Type (USD Trillion), 2024-2032
5. North America ICT Historical Market: Breakup by Enterprise Size (USD Trillion), 2018-2023
6. North America ICT Market Forecast: Breakup by Enterprise Size (USD Trillion), 2024-2032
7. North America ICT Historical Market: Breakup by Industry Vertical (USD Trillion), 2018-2023
8. North America ICT Market Forecast: Breakup by Industry Vertical (USD Trillion), 2024-2032
9. North America ICT Historical Market: Breakup by Country (USD Trillion), 2018-2023
10. North America ICT Market Forecast: Breakup by Country (USD Trillion), 2024-2032
11. North America ICT Market Structure
The market was valued at nearly USD 1.86 trillion in 2023.
The market is projected to grow at a CAGR of 8.0% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around USD 3.72 trillion in 2032.
The different types of ICT in the market include hardware, software, IT and infrastructure services, and telecommunication services.
The different sizes of enterprises in the market include small and medium enterprises and large enterprises.
The different industry verticals in the market include BFSI, IT and telecom, government, retail and e-commerce, manufacturing, and energy and utilities, among others.
The different countries covered in the market report are the United States and Canada.
The key market players are IBM Corp., Microsoft Corp., Cisco Systems Inc., Google LLC, AT&T Inc., Capgemini SE, Oracle Corp., Verizon Communications Inc., Adobe Inc., and Comcast Corp., among others.
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