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
In the mid-2000’s, smartphones took the world by storm. Offering a plethora of abilities and functions to users, these intricate devices were obsessed over by people around the world, connecting users to anything they desired with the click of a button or a tap of a screen. Recently, however, the smartphone market has experienced several missteps and subsequent difficulties selling their products to consumers.
1. Blockchain Technology will gain traction
Blockchain, the driver behind bitcoin, is a technology that uses a common ledger of information that updates simultaneously with every transaction on a public network of thousands of computers. Benefits of blockchain are that there is no singular controlling entity that can manipulate data and that there is no single point of failure except that of human error. In 2019, it is expected that we see blockchain technology used in areas outside of digital currency. Walmart has adopted blockchain to keep track of its produce supply chain, executives believe that it will help find where food-borne illnesses originated. JP Morgan has also found a practical use for blockchain technology. It has begun a trial project that uses blockchain technology to expedite overseas payment transfers. Blockchain has the potential to make business easier and more credible in many areas.
- SelectUSA (Date Accessed: 6/1/2017)