Technology and telecommunications Technology and telecommunications

Technology can be understood as the science responsible for solving society's problems. It is a transcendental sector in the world economic development, as it not only influences the design and manufacture of goods that make people’s life easier such as appliances, work equipment or means of transportation but also stimulates innovation and evolution of different markets.

This sector has an accelerated development. It often happens that certain good that a few years ago was highly demanded today can be obsolete. An example of this are smartphones due to the fact that each year they have new technologies and uses, this pushes consumers to put aside their "obsolete" phones to acquire new ones. The market for televisions, tablets, computers, music players and other electronic devices have a similar behavior. Laptop sales have been drastically affected by the increase the selling of tablets, this is more evidence that as new technologies emerge, some sectors are left behind but others are pushed into new innovations that foster supply and demand.

Telecommunications have also witnessed rapid technological advances. The radio, landlines and mail have had to adapt to the new digital models and the internet, which allow much faster communications and information transmissions. Mobile applications that allow, among other things, to make video calls through the network or buy music from anywhere in the world, are in an exponential boom due to their high demand and therefore higher profits for tech companies

For instance, Apple’s App Store income was 10 trillion dollars in 2013, while for 2016 it reached 29 trillion, three times more in three years and the number is expected to increase. In this sense, the telecommunications and technology industry has become very attractive when it comes to investing, since it has a very broad market and its products are of frequent consumption. This is why the list of the 25 most valuable brands in the world has tech companies on the top just like Google, Apple and Amazon.