IT Industry Overview
The information technology industry comprises companies engaged in the production, transmission, processing, storing, and selling of information: telecommunications, entertainment media , IT infrastructure and computer manufacturing, software development, cloud services, IT consulting, and defense. It is the sixth largest U.S. economic sector, generating more than $1.8 trillion (10%) of U.S. GDP and employing just over 7% of the U.S. workforce. The digitization of information and drive to make technology more accessible has led to a geometric expansion of data collection, analysis, and use. Every industry sector is being pushed to embrace hybrid private and public clouds, container-based applications, virtualized workloads, and Kubernetes clusters to keep up. Business data has always been a valuable, competitive resource. However, through focused investment in cloud computing, big data, storage management, security, and analytics applications, companies are now collecting, analyzing, and extracting maximum value from their data in structured ways to optimize processes and innovate.