Israel ICT Market Size study, by Type (Hardware, Software, IT Services, Telecommunication Services), by Size of Enterprise (Small and Medium Enterprises, Large Enterprises), by Industry Vertical (BFSI, IT and Telecom, Government, Retail and E-commerce, Ma

Israel ICT Market Size study, by Type (Hardware, Software, IT Services, Telecommunication Services), by Size of Enterprise (Small and Medium Enterprises, Large Enterprises), by Industry Vertical (BFSI, IT and Telecom, Government, Retail and E-commerce, Manufacturing, Energy and Utilities, Other Industry Verticals) and Forecasts 2022-2032

Israel ICT Market is valued approximately at USD 50.66 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 3.53% over the forecast period 2024-2032. Information and Communication Technology (ICT) refers to the broad spectrum of technologies and tools used to handle and communicate information. It encompasses both the hardware and software systems that enable the creation, storage, processing, transmission, and retrieval of data and information. The Israel Information and Communication Technology (ICT) sector is witnessing significant expansion, driven by advancements in digital technologies, cyber security measures, and healthcare IT innovations. This dynamic sector encompasses a broad spectrum of activities, including hardware and software development, IT services, and telecommunications services, addressing the diverse needs of various industries such as BFSI, government, retail, manufacturing, and more. The increasing penetration of 5G networks and the presence of major technology giants further contribute to the robust growth trajectory of the ICT market in Israel.

The burgeoning demand for cloud computing solutions is one of the pivotal trends in the Israel ICT market. Cloud computing facilitates application development, resource management, and data storage across numerous sectors, including IT, healthcare, and BFSI. Noteworthy investments and collaborations, such as the contracts with Google and AWS for providing cloud services to public and military sectors, underscore the strategic shift towards cloud-based infrastructures. Furthermore, the Israeli government's initiatives to promote technological advancements, including 5G, AI, and IoT, are fostering a conducive environment for market growth. For instance, IBM’s acquisition of Databand.ai highlights the ongoing efforts to enhance capabilities in AI and hybrid cloud solutions, which are critical for the ICT landscape.

Major market players included in this report are:

IBM Corporation

Cognizant Technology Solutions

Google LLC

Microsoft Corporation

Oracle

Cellcom

Pelephone

Partner Communications

HOT Mobile

AWS (Amazon Web Services)

Databand.ai

TCS (Tata Consultancy Services)

Bezeq International

EdgeConneX

MedOne

The detailed segments and sub-segment of the market are explained below:

By Type

Hardware

Software

IT Services

Telecommunication Services

By Size of Enterprise

Small and Medium Enterprises

Large Enterprises

By Industry Vertical

BFSI

IT and Telecom

Government

Retail and E-commerce

Manufacturing

Energy and Utilities

Other Industry Verticals

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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