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ICT, or Information and Communications Technology, refers to the comprehensive set of infrastructure and components that facilitate the handling, sharing, and exchange of information. This term encompasses various technologies, such as hardware, software, networks, internet services, data management systems, and communication tools.

Although ICT and IT (Information Technology) are sometimes used interchangeably, they have distinct scopes. IT primarily focuses on the use of technology to manage and process information, often centered around computers and software. On the other hand, ICT encompasses a broader range of components, including IT, communication technologies, and the entire ecosystem that supports information exchange.

The significance of ICT cannot be overstated, as it plays a pivotal role in driving economic development and fostering business growth. This impact has been so profound that it's typically associated with the onset of the fourth industrial revolution. ICT empowers organizations to streamline processes, enhance communication, access global markets, innovate new products and services, and adapt swiftly to dynamic market landscapes.

In the dynamic landscape of the ICT market, the evolution of ICT capabilities has led to the cost-effective development and deployment of various technologies by vendors and their customers alike. This advancement has significantly lowered barriers to entry, fostering innovation and competition. As a result, ICT has driven the creation of novel business models, streamlined operations, accelerated communication, facilitated global connectivity, and propelled industries toward digital transformation.