Technology: Introduction
Segments
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.
Electronic Commerce
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.
Entertainment Software
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
Profitability Drivers
- Technical expertise
- Innovative services
- Effective marketing
From the Blog 
Over the past few weeks, the term “metaverse” has been growing in popularity. Yet, the concept of the metaverse is still being developed and enhanced.
As technology continues to advance at an exponential rate and becomes increasingly intertwined with our daily lives, it should be no surprise that non-fungible tokens (NFTs) are exploding in popularity and sales volumes. In fact, Global sales volumes of NFTs reached $10.7 billion in the third quarter of 2021, making an eightfold increase from the previous quarter. This magnitude of attention is eye-catching, to say the least, and it has businesses and individuals around the world taking action.
Sources
- SelectUSA (Date Accessed: 6/1/2017)