Leading tech industry trade association projects 4% industry growth in 2019; identifies 12 trends to watch
Downers Grove, Ill. – The pace, scope, and accessibility of innovation today provides organizations an ever-expanding array of digital transformation tools; but it also brings new challenges in orchestrating technology, people, and process. This is one of the key themes explored in the “IT Industry Outlook 2019,” the annual report published by CompTIA, the leading association for the global tech industry.
On the strength of this innovation, CompTIA projects global industry growth of 4 percent, with upside potential of 6.4 percent. Conversely, an economic slowdown, exacerbated by international trade turmoil, could push the growth forecast to its low-end projection of 1.5 percent. Growth expectations for the U.S. market are in line with the global projection.
“It’s an exciting time as we embark on the next wave of innovation. Technology is more accessible than ever; and there are more opportunities to use technology to build and grow organizations,” said Todd Thibodeaux, president and CEO, CompTIA.
“While the potential is great, the challenges and anxieties are great, too,” Thibodeaux continued. “Our mission is to work with the tech community, and the workforce of today and tomorrow, to turn the possibilities of innovation into the realities of real-word benefits for the users of technology.”
Among factors cited by industry executives surveyed by CompTIA that will help drive growth in the year ahead is their ability to reach new customer segments, and successfully selling new business lines and launching new products, such as in emerging technology areas.
CompTIA’s IT Industry Business Confidence Index remains in solidly positive territory, but there are a number of concerns on the minds of industry executives. Beyond the usual concern over customer spending weakness, executives cited the possibility of an unexpected shock, such as a financial crisis, government turmoil, and margin pressure as factors that could hinder growth.
CompTIA’s 12 Trends to Watch in 2019
CompTIA’s “IT Industry Outlook 2019” explores 12 trends shaping the tech landscape, its workforce, and its business models in the year ahead.
“This year’s trends reaffirm the importance of thinking about technology holistically,” said Tim Herbert, senior vice president for research and market intelligence at CompTIA. “While discussions of ‘The Next Big Thing’ have their place, the practical reality for most organizations is the need to understand how technology building blocks spanning infrastructure, applications, data, and as-a-service models fit together.”
The complete report is available at https://www.comptia.org/resources/it-industry-trends-analysis.
The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $5 trillion global information technology ecosystem; and the more than 50 million industry and tech professionals who design, implement, manage, and safeguard the technology that powers the world’s economy. Through education, training, certifications, advocacy, philanthropy, and market research, CompTIA is the hub for advancing the tech industry and its workforce.
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$1.8 trillion – Estimated direct economic impact of the U.S. tech industry, representing 10.2% of the national economy.
525,500 – Number of tech business establishments in the U.S.
11.8 million – U.S. net tech employment at the end of 2018.
89,500 – Estimated number of new jobs added by the U.S. tech sector through the first eight months of 2019.
6 – Rank of tech in U.S. job creation since 2010 among the top 22 occupation categories.