Technology Market Research Reports & Industry Analysis

Technology applies science and knowledge to the practical endeavor of human life or to manipulating or modifying the human environment, in particular to industrial or commercial objectives. Through the making and usage of tools, materials, techniques, crafts, sources of power, systems or methods of organization, technology serves the purpose of solving a problem or serving some purpose to make life easier or more efficient and work more productive. The word can be used generally on its own or combined for specific areas, including medical technology, automotive technology, and information technology.

While science questions how and why things happen, and engineering applies objective knowledge to the formation of designs, plans, and the means for realizing a desired objective, technology deals with the tools and techniques for carrying out the plans and making things happen.

The growing field of health information technology (HIT) can be defined as the application of information processing involving both computer hardware and software. The technology deals with the storage, retrieval, sharing, and use of healthcare information, data, and knowledge for the purpose of improving communication and decision making. It is primarily divided into two categories – clinical and administrative IT solutions.