Big data refers to the use of predictive analytics or other advanced methods to extract value from a large amount of information, while the IoT refers to devices of all types, such as security monitors, vacuum cleaners and mobile phones, connected to the internet and to each other to create a more interconnected user experience.
Meanwhile, the Center said that the cloud technology-based segment in the information services sector is expected to enjoy a 9.3% increase in the CAGR over the next four years, the highest growth among all segments in the sector, ahead of a 4.2% increase in the system integration segment, and a 3.8% increase in the outsourcing segment.
The market advisory group also said that Taiwan’s software industry is expected to benefit from the booming big data and the IoT sectors, adding that the local software market will likely rise to NT$80.3 billion (US$2.6 billion) in 2018 from NT$71 billion (US$2.3 billion) estimated for 2015, with a CAGR of 4.4% during the period.
In the local software industry, the embedding software segment is expected to have a CAGR of 9.0%, the highest among the segments in the industry, followed by the package software segment with 6.6%, and the solutions for corporations with 2.8%, the MIC said.
It added that the development of big data and the IoT will continue to boost the local information services sector, in particular in services based on cloud technology applications used by smart devices and mobile gadgets not only for individual clients but also for corporation customers.