Downers Grove, Ill. – Businesses in the United States identify innovation as a top priority and are intrigued by the potential of emerging technologies, according to a new report from CompTIA, the leading trade association for the global information technology (IT) industry.
At the same time, concerns about cybersecurity readiness and the struggle to find enough workers with the right skills to meet their workforce needs add a measure of caution to their expectations and plans for 2020, CompTIA’s “International Trends in Technology and Workforce” finds.
The survey of business and technology professionals in 14 countries identified business priorities for 2020, as well as perceptions of emerging technologies, cybersecurity, workforce skills, professional development strategies, and the future of work.
“The ingredients for innovation have never been more accessible, and tech hubs can now be found in nearly every corner of the globe,” said Tim Herbert, executive vice president for research and market intelligence at CompTIA. “While the research points to momentum on many fronts, there remains much work to be done in helping businesses and workers navigate the path ahead.”
The Business of Technology
With global spending on hardware, software, services and telecom projected to reach nearly $5.2 trillion this year - $1.7 trillion in the U.S. – it’s evident that technology has a growing and integral role in business operations.[1] A full 97% of executives in the country rate technology as a primary or secondary factor in reaching their business objectives.
The large majority of companies (88%) turn to outside providers to assist with their technology requirements. Deployment and integration, repair and maintenance, emerging technologies and software development are among the most common outsourced services.
Emerging Tech Momentum Builds
More than half (53%) of U.S. executives have a positive view of emerging technology, comparable to the global figure of 54%. Another 28% of U.S. respondents take a middle-ground position, expressing equal parts excitement and trepidation.
At the other end of the spectrum 19% of executives report mostly feelings of trepidation about emerging tech. Budget constraints, risk aversion and lack of a clear business case are among the primary factors that cause some organizations to take a go-slow approach.
Although still far from mainstream adoption, the emerging technologies with the highest rates of implementation globally are the internet of things and big data.
Cybersecurity Disconnects
Nearly 8 in 10 executives (795) describe their organization’s cybersecurity as completely or mostly satisfactory. This suggests there is still room for improvement. A belief that current efforts are “good enough,” lack of budget dedicated to cybersecurity and a low understanding of new threats and trends are among the challenges that keep firms from devoting more attention and resources to the issue.
Given the projected high growth rates for emerging technologies expected over the next several years, the need for businesses to re-evaluate their approaches to cybersecurity is even more apparent.
Workforce Challenges
Skills gaps remain an ongoing challenge for many organizations, with 49% of U.S. respondents reporting that situation has grown more challenging over the past two years. That’s just above the global response of 46%.
The research confirms the distinction between the generic use of the phrase “skills gap” and the more nuanced discussion of “workforce gaps” that encompass location, pay, soft skills, perceptions, innovation and more.
Interestingly, 40% of executives in the U.S. acknowledge that unrealistic expectations with skills and experience contribute to exaggerated perceptions of the skills gap. Another 46% said it is somewhat of a factor.
CompTIA’s “International Trends in Technology and Workforce” report is the result of an online survey of 1,554 business and technology professionals in Australia, Brazil, Canada, China, India, Ireland, Japan, the Middle East (Oman, Saudi Arabia and United Arab Emirates), the Netherlands, Thailand, the United Kingdom, and the United States. The complete report, including country specific data, is available at https://www.comptia.org/content/research/international-trends-workforce-cybersecurity-emerging-tech.
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About CompTIA
The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $5.2 trillion global information technology ecosystem; and the estimated 75 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. Visit www.comptia.org to learn more.
Contact:
Steven Ostrowski
Director, Corporate Communications
CompTIA
630-678-8468
[email protected]
www.comptia.org
[1] International Data Corporation (IDC), ICT Spending Forecast, https://www.idc.com/promo/global-ict-spending/forecast
Steve Ostrowski
Senior Director, Corporate Communications
(630) 678 - 8468
[email protected]
Roger Hughlett
Director, Corporate Communications
(202) 503 - 3644
[email protected]
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Access Now$2 trillion – Estimated direct economic impact of the U.S. tech industry, representing 8.8% of the national economy.
582,000 – Number of tech business establishments in the U.S.
9.1 million – U.S. net tech employment at the end of 2022.
286,400 – Estimated number of new technology jobs added in the U.S. in 2022.
4.1 million – Number of postings by U.S. employers for tech job openings during 2022.
