Digital & Connectivity Indicators - Iceland

Regional Differences in Digital Development: Global digital and connectivity indicators show significant regional disparities. Developed regions like North America, Western Europe, and parts of Asia have advanced digital ecosystems, while many developing are still catching up. These differences present both challenges and opportunities in the digital landscape.

Competition and Innovation in Telecommunications: Intense competition among telecommunications and technology providers, especially in developed regions, is driving innovation. Key trends include the development of 5G, IoT, cloud computing, AI, and data analytics, all of which are reshaping the digital landscape and expanding connectivity possibilities.

Impact of the COVID-19 Pandemic: The COVID-19 pandemic has accelerated the adoption of digital technologies, boosting remote work, telemedicine, and e-commerce. This shift underscores the critical need for reliable connectivity and highlights the vital role of digital infrastructure in sustaining economic and social activities during crises.

Future Outlook in the Digital Sphere: The digital landscape's future revolves around the expansion of 5G, advances in IoT, and innovations in AI. These technologies will significantly impact global societies and economies, driving further digital transformation and shaping the future of industries and daily life.

Data coverage:

The dataset encompasses data from 152 countries. The charts depict the situation of each country in six different domains. These domains are socioeconomic indicators, macroeconomic indicators, health indicators, digital and connectivity indicators, consumption indicators, as well as logistics and transport indicators. Within these domains, various segments are covered, including demography, economic measures, economic inequality, employment, consumption, health determinants, and much more.

Modeling approach:

The composition of each domain follows a comprehensive approach that combines both top-down and bottom-up methodologies, with each domain and segment being guided by a specific rationale. To evaluate the situation of these six domains within each country, we rely on pertinent indicators and data from reputable international institutions, local national statistical offices, industry associations, and leading private institutions. Additionally, we undertake data processing procedures to address issues such as missing timelines, outliers, and data inconsistency. Our data processing incorporates advanced statistical techniques, including interpolation, exponential moving weighted average, and the Savitzky-Golay filter. These methods contribute to the refinement and enhancement of data quality.

Forecasts:

In our forecasting process, a wide range of statistical techniques is utilized based on the characteristics of the markets. For example, the S-curve function is employed to forecast the adoption of new technology, products, and services, aligning the forecast model with the theory of innovation adoption. Additionally, the data is forecasted using ARIMA with and without seasonality considerations, exponential trend smoothing, and the Compound Annual Growth Rate (CAGR), with the option to incorporate adjustment factors when necessary. These techniques enable accurate and reliable forecast methods tailored to the unique characteristics of the data in each market and country.

Additional notes:

The data is updated twice per year or every time there is a significant change in their dynamics. The impacts of the COVID-19 pandemic and of the Russia/Ukraine war are considered at a country-specific level.