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Technology is the application of conceptual knowledge to achieve practical goals, especially in a reproducible way. [1] The word technology can also mean the products resulting from such efforts, [2] [3] including both tangible tools such as utensils or machines, and intangible ones such as software.
Companies in the information technology field are often discussed as a group as the "tech sector" or the "tech industry." [ 51 ] [ 52 ] [ 53 ] These titles can be misleading at times and should not be mistaken for "tech companies;" which are generally large scale, for-profit corporations that sell consumer technology and software.
A technology company (or tech company) is a company that focuses primarily on the manufacturing, support, research and development of — most commonly computing, telecommunication and consumer electronics-based — technology-intensive products and services, which include businesses relating to digital electronics, software, optics, new energy, and internet-related services such as cloud ...
In addition, the pace of recognition of Industry 4.0 and policy transition varies across countries; the definition of Industry 4.0 is not harmonised. One of the most known figures is Jeremy Rifkin who "agree[s] that digitalization is the hallmark and defining technology in what has become known as the Third Industrial Revolution". [ 33 ]
The information industry or information industries are industries that are information intensive in one way or the other. It is considered one of the most important economic branches for a variety of reasons. There are many different kinds of information industries, and many different ways to classify them.
The industry also includes software services, such as training, documentation, consulting and data recovery. The software and computer services industry spends more than 11% of its net sales for Research & Development which is in comparison with other industries the second highest share after pharmaceuticals & biotechnology. [1]
It can be defined as either the most complex or the newest technology on the market. [3] The opposite of high tech is low technology, referring to simple, often traditional or mechanical technology; for example, a slide rule is a low-tech calculating device. [4] [5] [6] When high tech becomes old, it becomes low tech, for example vacuum tube ...
The computer industry is made up of businesses involved in developing computer software, designing computer hardware and computer networking infrastructures, manufacturing computer components, and providing information technology services, including system administration and maintenance. [citation needed]