Rise and Fall
As the technology, media and telecom sector experience massive growth spurred by seemingly endless innovation across the web’s various digital platforms, traditional media is becoming increasingly obsolete.
The U.S. Information sector generated $1.26T in 2013 across 37 tech, media and telecom industries. The industry is projected to increase 3.1% by 2018 despit steady declines in print media and publishing. In fact, of these 37 industries, 14 are in the declining states of their life-cycles, which demonstrates the massive growth among the newer sectors of the industry. The following graph provided by IbisWorld highlights the industry’s key statistics:
Fastest Growing Sectors
The six fastest growing sectors in the industry (as outlined in the graph below) include internet publishing & broadcasting, search engines, operating systems & productivity software publishing, video game software publishing, and voice-over IP. These industries have experienced strong demand growth over the past five years, especially strong before the recession, and are projected to continue to grow over the next five.
The Future of the Industry
By 2018 the industry is forecast to be worth $1.47 trillion spurred by continued innovation, expansion and M&As.