Major Sectors of Technology
Tech is an umbrella term that describes many of the new sciences that have recently flourished across various industries. Technological progress is a general term that is used to describe all the new methods and equipment developed for a particular branch of science. Technological progress is usually measured in relation to how far a field has evolved compared to its original version. For instance, it can be said that in computer technology, the number of computers has grown from fewer than 100 in 1950 to thousands all over the world. Technological progress is a broad term that covers many things like information technology, information management, software engineering, and also computer science.
The Information Technology sector is comprised of all the microelectronic and information technologies, which are used to carry out diverse activities. Examples of technics that form part of the information technology sector are computer software, desktop and laptop computers, digital electronic appliances (DEEP), cable and phone services, networking, software, and hardware. In the context of home appliances, it can be said that the home appliances tech is responsible for developing the different popular appliances like refrigerators, ovens, dishwashers, cars, television sets, video game consoles, and digital cameras.
The automobile industry has a tech company called Jeff below which develops, designs and markets performance automobiles. In the context of the business model, Jeff below will design the engine and the complete power train using their experience and expertise. The basic goal of every tech company is to provide solutions to the needs of their customers in terms of designing and developing new products, services, and business models.
Another important tech sector in India is the Information Technology and Telecommunications industry, which contribute about 22% to the gross domestic product (GDP). India is now becoming a significant world leader in information technology due to the tremendous rise in demand for technical graduates in both the information technology and the telecom sectors. Information technology professionals are now highly sought after global talent in many sectors including telecommunications, computer science, engineering, and software engineering. With the rising demand for technical manpower, India is on its way to attain a world level IT market cap.
TTM (Tech Transfer Marketing) is another important sector which is growing at a faster pace. This term is used to define the process by which a company transfers technology developed internally to make it available for other companies. A very large portion of India’s population is active users of mobile devices and the demand for better connectivity and greater user-friendliness of mobile devices is increasing every day. An important segment of this market is TTM which helps to convert an idea into a technology which can be useful to users.
A wide range of electronics items is included in the home appliances category. Air conditioners, refrigerators, dishwashers, air conditioners, computers, televisions, compact disc players, MP3 players, LCD televisions, music systems etc. constitute a significant part of the consumer electronics market segment in India. The global demand and supply lines for these items are extremely fast, which makes these items ideal for importation. Automobile accessories, automotive parts and accessories, sports goods and accessories, motorcycle parts and accessories, car wheels and tyres form an integral part of the automobile technology sector in India.