The highest percentage of executives (48%) expect the current global economic state to remain stable with regards to its impact on the IT sector over the next 12 months. Meanwhile, 30% of respondents indicate a favorable opinion about the existing global economic state. With new technologies (such as cloud computing, artificial intelligence, 5G deployments, IoT, etc.), increased usage of digital platforms, and amid rising competition within the IT sector, companies are facing both challenges and opportunities to remain relevant in fast-changing market scenarios. Globally, 75% of surveyed executives have positive expectations for their company’s growth over the next 12 months, while 71% respondents feel the same about the industry’s growth. Though, supplier prices for software will increase by an average of 3.4% over the next 12 months, one-third of respondents who operate in North America foresee a decline in the supplier prices of hardware by 0.1-3.99% during June 2019-May 2020. Moreover, cybercrime, political changes in the country/countries of operation, and new competition are, respectively, identified as the top three concern for the IT industry over the next 12 months.
Our "Information Technology Industry Business Confidence Report 2019", examines executives’ opinion about the business environment during June 2019-May 2020. It also highlights the current economic conditions, supplier price variations, sales performance, industry and company growth prospects, spending models, and key priorities. Additionally, the report provides information categorized by region, and company size and type.
What else does this report offer?
- The current state of the economy with regards to its impact on the IT industry: examines predominating economic conditions globally and across specific regions
- Company and industry growth outlook: provides executives’ opinions on the growth prospects of their company and the industry over the next 12 months
- Change in level of customer confidence: analyzes respondents’ sentiments surrounding the shift in the level of customer confidence within IT industry during June 2019-May 2020
- Supplier prices outlook: determines the expected variation in supplier prices across different categories and their impact on the business confidence
- Change in staff headcount and sales performance: anticipates and tracks the shift in staff headcount and sales growth during June 2019-May 2020 among industry executives globally as well as regionally
- Investment Projection & activities: highlights different areas in which industry executives intend to spend and invest over the next 12 months
- Business concerns: provides information about potential business concerns indicated by survey respondents for coming 12 months
- Key priorities: identifies the top priorities of industry executives operating in various regions.
- Existing global economic state is most likely to remain stable with regards to its impact on the IT sector over the next 12 months. However, respondents operating in Asia-Pacific and South America are anticipating a favorable or very favorable impact of existing economic condition on the IT sector
- The majority of surveyed executives expect a positive or very positive change in the level of customer confidence within the IT sector over the next 12 months
- On average, respondents with business operation in Europe foresee an average of 4.4% of increase in staff headcount over the next 12 months, compared to what it is now
- Over the next 12 months, surveyed executives predict that the highest increase in expenditure will be towards new product development which is followed by research and analysis
- Cybercrime is identified as the most crucial concern for the IT industry over the next 12 months, particularly, for the businesses operating in Asia-Pacific and North America.
Reasons To Buy
- Assists companies to make effective business strategy decisions by knowing the prevailing market conditions and sentiment within the IT industry
- Supports organizations in business expansion decisions by providing information concerning the projected variation in sales performance and supplier prices
- Helps IT enterprises in aligning themselves with the latest market trends and prevailing sentiments by informing them with the essential priorities and major concerns of the industry
- Serves to adjust investment allocation by outlining key focus areas highlighted by survey respondents during 2019.