IT industry valued at $4 trillion, report finds

Though the world is already well aware of the tremendous growth and impact of the information technology sector, a new report has found just how much this global industry is worth.

The research study conducted by advisory group CompTIA revealed that the IT industry has a value of nearly $4 trillion, according to News Everyday. The data compiled responses from 673 participants and several major organizations including Burning Glass Technologies Labor Insights, the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Analysis and others.

Composed of telecommunications, hardware, software and services, the sector has seen incredible growth in recent years and plays a crucial role in almost every other industry.

Forecast to reach $3.8 trillion by the end this year, the IT market is up from $3.7 trillion from a year previous, according to the report. The U.S. itself makes up more than one-quarter of the market, raking in just over $1 trillion on its own.

Approximately 5.9 million U.S. workers are employed by the IT industry, including network administrators and software developers, as well as those in non-technical positions such as human resources and finance.