South Africa spends $26 billion on technology, helps the nation to grow towards digitalization.
What is technology?
Technology, applying scientific knowledge to the practical purposes of human life or to the creation and exploitation of the human environment, as sometimes put it.
Technology is a knowledge body that is dedicated to the development of tools, processes and material extraction. The word ‘ technology’ is large and everyone knows its meaning. In brief, we use technology to perform a variety of tasks every day; technology can be defined as products and processes that improve our daily life. We use technology to improve our abilities and ensure that people are the most important part of any program of technology.
The application of science used for problem-solving is also technology. It is essential to know, however, that technology and science are different topics that work together to accomplish specific tasks or to resolve problems.
According to International Data Corporation (IDC) estimates, technology-related investments in South Africa alone are expected to reach $26.4 billion by 2020.
This increase reflects South African overall spending on information technology, which was 2.5% from the previous year.
According to Mark Walker, the IDC associate vice president in Southern Africa, software and IT services are expected to reach $8.2 billion and will be the largest amount spent in technology over the course of the year.
In addition, technology costs are expected to increase by 3.3 percent, to $880 million, in the country such as servers, storage, and networks across businesses. Investments in IaaS will, on the other hand, reach $204 million.
The research firm has also forecast that almost half of all the global Gross Domestic Product (GDP) comes from digitally transformed products and services. Therefore, they are encouraged to use the opportunity for growth that the digital economy of South Africa brings forward in the decade.
In order to thrive, companies must develop new technologies for digital innovation, job, and knowledge, and build a modern IT infrastructure that supports sound operations and extensive experience, according to Jyoti Lalchandani, IDC’s Vice President and Managing Director for the Middle East, Turkey, and Africa.
South Africa spends $26 billion on technology – Comment what’s in your mind!