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Technology Forecast Paper

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Technology Forecast Paper:
Communications Industry

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Introduction
The United States Communication Industry will see new growth into trillions of dollars as digital technology expands with both mainstream consumers and businesses. Spending will increase as companies utilize more of the newest and latest technology across various target sectors such as; education and communications throughout the United States and European markets. Notably the industry was impacted during the national economic decline but appears to be rebounding and seeing a healthy gain. The industry expectation is to see a $1.455 trillion escalation by 2016 maintaining the position of the 5th largest industry in 2016. (www.vssforecast.com, 2012)
Industry Overview Although there are many different segments within the communications industry, particularly within the US markets, digital communications and its related businesses is submerging as a propelling force of upward growth. With the digital communications arena there are related businesses such as content and user access. (www.vssforecast.com, 2012) Digital communications is constantly developing and ever advancing as new technology is designed to appeal to various consumers and within the business sector.
There is an evident increasing demand for digital communications. Non-digital communication companies are also converting over to digital so that they can better compete in the market. According to research conducted by VSS, expenditures relating to digital technology represented 16.7% of all Communications Industry expenditures. VSS also predicts growth by 39.3% by 2016. Significant emphasis is placed on the forecast period on digital conversion. In addition, two specific segments within the Communications Industry are predicted for a position of high growth; Targeted Media and Business & Professional Information and Services. The Target Media segment encompasses wide array of marketing and branding services including Pure-Play Consumer Internet and Mobile. As consumers and businesses strive to have the most advanced technology available on the market and the quickest Internet connection will be a dynamic force in seeing a rise in spending. (www.vssforecast.com, 2012)

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