Wednesday, October 4, 2023

IT sector to contribute 13% of GDP by 2025: MoITT

As the digital economy grows quickly over the next five years, the Ministry of Information Technology and Telecommunication (MoITT) predicts that the digital and IT industries will contribute 13% of GDP by 2025.

Official data from the ministry says that the size of Pakistan’s digital economy will grow quickly over the next five years as more people use digital technologies. In the coming years, the share of GDP that comes from the digital economy will grow.

The share of GDP that the ICT core industry contributes will go up from 1.2% to 8.15 %, and the share that the digital and IT sectors contribute will go up from 2.7% to 13%.

There are two ways to look at Pakistan’s digital economy right now. The digital and IT industries are the backbone of the information and communications technology business. In 2019, the information and communications technology (ICT) sector added 1.2% to the GDP. Pakistan’s information technology and telecommunications industry make up 2.7% of the country’s gross domestic product (GDP).

The Internet of Things (IoT), cloud computing, and big data analytics. Artificial intelligence is four techniques that will help ICTs reach their full potential to speed up economic and social development.

Huawei thinks that thanks to new ICTs, the digital economy may become worth $23 trillion by the year 2025. By 2025, a total of estimated 100 billion connections. This will help industries like public utilities, transportation, manufacturing, healthcare, agriculture, and finance keep up with the digital revolution. By then, 80% of people will use data, and 86% of businesses should also use using AI. This means that every year, 180 billion gigabytes of new data will be made. Giving us a never-ending supply of new ideas and ways to make money.

Governments must invest in infrastructure and services for information and communication technology (ICT). If they want to improve their economies and be able to compete globally. They can make cities and towns more sustainable by reducing poverty and hunger, improving health, creating new jobs, slowing climate change, making energy use more efficient, and using less energy overall.

Many people in low-income and middle-income countries still use their phones to connect to the internet (LMICs). According to information from the Information Technology University, 87 percent of all broadband connections in developing countries in 2019 were mobile (ITU). People and businesses are using mobile devices and networks more and more to boost productivity, improve relationships, and offer public and private e-services.

Read more: Punjab starts free online academy counter tuition culture

It was also said that the mobile ecosystem in Pakistan has been playing an increasingly important role in economic growth. Both by directly adding to GDP and by making all parts of the economy more productive and efficient.

At the moment, 4G is the main way that mobile broadband works in most countries. More and more people are using it. All over the world, people are moving from 4G to 5G at the same time.

The most recent GSMA study found that more than half of all mobile connections around the world were 4G in 2019. Only 82% of the people in low- and middle-income countries (LMICs) had access to 4G. While 90% had access to 3G. More than 80% of LMICs now have 4G coverage. Whereas it took 10 years to get to this point with 3G.

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