In recent years, technology businesses have become a dominating driver of economic growth, consumer preferences, and financial markets. For example, during the last decade, the largest technology equities have outperformed the overall market. 1 This is because technology has changed the way people interact, consume information, shop, socialise, and work in significant ways.
Companies in the technology sector, in general, are involved in the research, development, and production of technologically based goods and services. They design and produce computers, mobile gadgets, and household appliances, as well as software. They also offer information technology-related products and services.
Technology services are professional services that help businesses and end consumers use technology more effectively. Technology services combine the processes and operations of software, hardware, networks, telecommunications, and electronics to create specialised technology-oriented solutions.
Information technology services are another name for technology services (ITS).