Australian ICT Market

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Australian ICT Market

Information and communications technology (ICT) is the term used to describe all the hardware (computers, mobile phones, cables, networks) and software (websites, computer programs) that allows data to be digitally processed, stored and communicated. ICT can be used to access, process, manage and present information; model and control events; construct new understanding; and communicate with others. Information and communications technology (ICT) is a key driver of Australia’s strong economic growth and innovation.  Australia’s ICT Market continues to grow with new areas of convergence, new business models and “bankable” IT solutions paving the way for new opportunities. ICT remains an indispensable ingredient for countries seeking to drive increasing productivity and competitiveness, improving life standards, education and healthcare.

The Australian ICT market, which comprises of business and research firms engaged in providing computer, telecommunications services, along with hardware sales and service. Australia's ICT Market is the fourth largest in the Asia-Pacific region after the Chinese, Japanese and the South Korean markets and is ranked 11th largest on a global level. Australia's ICT Market operates within Australia and exports to over 17 major and developing economies overseas including Brazil, China, France, Singapore and the United States of America. ICT is a composite good as it involves: hardware, software, systems integration, operational systems and infrastructure. Major sectors within the industry include: IT services, systems integration and software support; Internet services and telecommunications; Software and digital content development; Wholesale and retail distribution of software and hardware; Manufacture of ICT products and components.