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Golden Saint Technologies

Growth in ICT spend driven by cloud infrastructure

Information and communications technology (ICT) spending by service providers will reach US$426 billion by 2022, representing average growth of 6% per year, as the ongoing shift from on-premise IT management to the “as-a-service” model continues to gather pace in many regions around the world.

Cloud and digital service providers will represent the strongest market opportunities for ICT vendors with overall growth of 9% over the forecast period ($105 billion in annual spend by 2022), but communications service providers will still represent the largest share of service provider spending ($254 billion in 2022).

Colocation and managed services providers will increase spending by an average of 7% per year, reaching $67 billion in annual ICT spend by 2022.

 

Golden Saint Technologies Ltd (LON:GST), through its subsidiary, EMS Wiring Systems Pte. Ltd, designs, engineers, supplies, installs, and maintains information and communication technologies. 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.