Cloud Computing Services
A relatively new segment, cloud computing is the practice of using a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer.
Companies in this particular segment design and publish software to conduct business-to-business and business-to-consumer transactions through the Internet and other computer networks.
Companies in this segment create video games and other entertainment software. Major products include items such as console software, handheld games, smartphone applications, and personal computer games.
The Technology industry is Highly Concentrated. The production in this industry is dominated by a small amount of large firms that are able to shape the industry’s direction and price levels.
Primary Demand Drivers
- Rapid technological advances, but spending depends on the health of the domestic economy
- Technical expertise
- Innovative services
- Effective marketing
From the Blog
Tobacco has been a large industry ever since it was brought to Europe centuries ago. The American plant took off in popularity, becoming a commonly used product worldwide to be smoked and chewed. One of the primary factors causing tobacco consumption is the addictive nicotine found inside. Smoking continued to rise in popularity until its peak in 1963, where roughly 11 cigarettes were purchased per person per day in the United States. Other countries appeared to have a slightly later peak in popularity for smoking. In 1972, Switzerland approached its peak, resulting in Swiss smoking temporarily surpassing the rates of the U.S. Other countries, such as Germany and Japan, also experienced their highest rates in the 1970s. The United States and Switzerland had significant declines in sales after their peaks, though many other countries did not experience these rapid declines in cigarette sales until the early 2000s. Nowadays, many countries that have the highest rates of smoking tend to be in Europe, such as France, Germany, and Greece.
In the continuously growing global market, two key factors have led to new competition in the technology industry: trade war, and artificial intelligence (AI). The Hanguang 800, Alibaba's first AI chip, has the potential to affect the global market as it continues expanding the possibilities of what the world may become through AI. This extremely advanced AI processor was not expected to be produced in China for at least another year; however, the trade war between the U.S. and China forged new competition in the technology industry, leading to increased innovation.
- SelectUSA (Date Accessed: 6/1/2017)