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.