Abstract
Applicability of ICT has gained high research interests in both developed and developing countries due to the perceived social and economic benefits. With increased benefits of ICTs, many governments have invested heavily in the emerged technologies to gain competitive advantange over others in the business. Despite the high investment by many countries around the world, yet there are inadequate documentation about the cost - benefits of the massive ICT investment in developing countries especially Africa. Hence, developing an empirical study to reveal the perceived cost - benefits of ICT investment for the industrial development is critical. This chapter, presents a comprehensive review of various studies conducted in different countries of the world detailing the extent of ICTs, barriers hindering its use and the potential benefits. To date, there is existing empirical evidence to support the role of ICTs for industrial development in the developing countries, while the benefits of ICTs for industrial development in developing countries of Asia and Africa are not well documented.
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