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Features of the development of the modern digital technology market

Author

Listed:
  • Olena Liutak
  • Оlena Baula
  • Iryna Voitenko
  • Viktor Protsyk
  • Oleksandr Hrytsai

Abstract

The modern digital technology market is transforming under the influence of external externalities and internal dynamics of its development. The purpose of the article was to substantiate scientific and practical recommendations on the peculiarities of Ukraine’s integration into the global digital technology market and to develop proposals for intensifying these processes. The study used logical, retrospective analysis, the dialectical method, synthesis, classification, grouping and generalisation of data, tabular and graphical methods, the method of scientific abstraction and explication, quantitative and qualitative comparison. The article examined the theoretical foundations of the global digital technology market, namely, the theoretical aspects of the modern service market and its structural elements, methodological approaches to the integration of countries into the global digital technology market. Based on an assessment of the research of leading scholars, it was formed the structure of the modern digital technology market, the structural elements of which are software and hardware, network technologies and telecommunications, Internet services, IT education and training, media and entertainment, social networks and communications, e-commerce, security information technologies, IT consulting and services. Was identified the rapid dynamics of the global IT services market, in particular, in 2016 its volume was USD 0.87 trillion, and in 2024 it will reach USD 1.36 trillion, which is 1.56 times more. Was assessed the role of Ukraine in the global digital technology market, analysed the trends and structure of the global market development, and studied the level of development of the Ukrainian digital technology market in the context of globalisation. It is determined that the growth rate of the IT services market in 2016-2021 was quite significant and increased from USD 306.4 million in 2016 to USD 477 million in 2021. The article described the institutional support for the development of the Ukrainian digital technology market in modern conditions and identified the priority areas for Ukraine’s integration into the global digital technology market. The practical significance of the study is to identify trends, structure and dynamics of the modern digital technology market in Ukraine and the world, and to focus on developing a system of measures to promote the development of the information and communication technology market

Suggested Citation

  • Olena Liutak & Оlena Baula & Iryna Voitenko & Viktor Protsyk & Oleksandr Hrytsai, 2024. "Features of the development of the modern digital technology market," E-Forum Working Papers, Economic Forum, vol. 14(4), pages 32-46, October.
    • Handle: RePEc:cuc:eforum:v:14:y:2024:i:4:p:32-46
    DOI: https://doi.org/10.62763/ef/4.2024.32
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    References listed on IDEAS

    as
    1. Oleh Zubchyk & Denys Kireev, 2019. "Development of Digital Economy as an Element of the Social Development Strategy in Ukraine," International Journal of Economics and Financial Issues, Econjournals, vol. 9(6), pages 151-155.
    2. Albinowski, Maciej & Lewandowski, Piotr, 2024. "The impact of ICT and robots on labour market outcomes of demographic groups in Europe," Labour Economics, Elsevier, vol. 87(C).
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