CEOs Weigh in on Future of the Tech Sector
High Hopes
35% of technology-sector CEOs believe the economy will improve this year, compared with 21% who felt this way at this time last year.
Growth Projections
90% are optimistic about their companies’ revenue growth in the next year, and 91% are confident about revenue growth in the next three years.
Economic Uncertainties
76% are concerned about the potential risk of softness in developed markets, and 69% are concerned about the risk of a slowdown in high-growth markets.
Personnel Expansion Plans
62% intend to increase their hiring.
Human Factor
68% perceive the lack of availability of key skills as a major threat to business growth while 62% say that rising labor costs in high-expansion markets present a major threat.
Change Agents
90% say tech advancements will be a primary business transformer in the next five years, and 66% say shifts in global economic power will have great influence.
Agenda Items
92% are focusing on improving customer growth/retention strategies; the same percentage is planning to improve their talent recruitment/retention/development strategies.
Budget-Minded
58% plan to implement cost reductions, compared with 71% who did so last year.
Teaming Up
48% anticipate entering into a new strategic alliance or joint venture, compared with 32% last year.
The American Way
31% plan to carry out a merger and acquisition, joint venture or strategic alliance within the next 12 months within North America, compared with 39% who did so last year.