1 Market and regulatory trends in the ICT sector This chapter provides an overview of ICT market trends and starts by exploring cutting edge technologies in order to provide an overview of where the sector is headed. These trends are increasingly global and impact both developed and developing countries. The Chapter is intended to help stakeholders, and in particular ICT regulators keep abreast of the latest developments and prepare for the digital society. It explores evidence that shows how policies and regulation may impact ICT services uptake and introduces new tools developed by ITU.1.1 ICT market trends Since the last edition of Trends, the ICT sector has continued its remarkable transformation, and its impact on society and economic and social development has become even more obvious. The growing adoption of broadband-enabled mobile devices has made access to the digital world more ubiquitous and pervasive. Technology is moving fast, transforming lifestyles and rendering old business models obsolete. The ICT industry has moved from distinct infrastructure platforms and connected devices to an interconnected ecosystem of computing – the cloud – which changes the traditional rules of the game. The cloud is enabling new innovations across society and the economy, at all levels, for everyone. Everything becomes a computing device, a connected device – be it a car, a fridge, or a pair of glasses. This new dimension of connectivity opens the way to massive, unlimited possibilities. Apps and m-services are empowering citizens to innovate and engage in all aspects of life irrespective of time, distance and location. Figure XX tries to capture the transformation of the ICT sector:BB-enabled interconnected always-on devicesPublic and private e-servicesUbiquitous accessBig dataNew businessInterconnected smart economic sectors and peopleFast changing technologySoftware (OTT, apps), hardware (network, storage)Transformation of ICT SectorEcosystem of Cognitive Computing & Artificial Intelligence In this digital environment, huge amounts of data are created every minute. The explosive growth of data combined with the demand for data – the new oil of the economy Authors: Youlia Lozanova and Nancy Sundberg (BDT/ITU); with contributions from Phillippa Biggs (ITU) and Chelsea Mori Trends in Telecommunicaiton Reform 2015 1