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Introduction of ICT Industry - Assignment Example
Author : wyattjast
Pages 3 (753 words)
The paper seeks to discuss the global and local changes in Information and communications technology (ICT) industry and it will particularly focus on New Brunswick Province in Canada. The paper starts by defining the meaning of ICT in order to gain a clear understanding of the whole concept…
1). As such, it can be observed that the phenomenal growth of ICT especially the internet has dramatically revolutionised the business landscape across the whole globe (Cloete, 2001). The advent of the internet has resulted in a boom of e-business activities between individuals as well as other organisations. This is commonly referred to as e-commerce where a range of online business activities for products and services are carried out (Andam, 2003). ICT supports online business which has significantly gained prominence during the recent years. It can also be seen that there have been various global changes in the ICT industry. For instance, Andam (2003) posits to the effect that developments in the Internet and Web-based technologies have resulted in the narrowing of distinctions between traditional markets and the global electronic marketplace-such as business capital size. The “International Data Corp (IDC) estimates the value of global e-commerce in 2000 at US$350.38 billion and was projected to climb to as high as US$3.14 trillion by 2004,” (Andam, 2003, p.6). This major change in the global ICT industry is mainly attributed to the fact that information and communication technology is used to enhance one’s business where computer mediated network is used. ...