What's Driving The Market?

TBRC cited five reasons: economic growth, the creation of smart cities, government initiatives in advanced and developing economies, the Internet of Things, and an increase in digital advertising revenues.

TBRC estimates 3.4 percent global economic growth this year and 3.6 percent in 2017.  In the U.S., it said President Obama's Open Government Initiative, introduced in 2013, has scaled up the use of IT services and solutions across such sectors as health, energy, education, finance, and public safety.

Meanwhile, the report predicted that digital advertising will soon overtake traditional forms of advertising, such as print, television, radio, and movies. Digital advertising was a key in Verizon's announcement in July that it would acquire Yahoo for $4.83 billion.