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Tech Sector Overview and Outlook shown at the TechVoice Fly-In

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CompTIA VP of Market Research Tim Herbert gives an overview and 2014 outlook for the tech sector during the TechVoice DC Fly-In.

CompTIA VP of Market Research Tim Herbert gives an overview and 2014 outlook for the tech sector during the TechVoice DC Fly-In.

Published in: Technology, Business

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  • 1. Tech Sector Overview and Outlook
  • 2. 2014 IT Industry Growth Forecast 8.0 Growth Rate Range 7.0 5.9% 6.0 5.0 4.0 3.4% 3.0 2.0 1.0 0.0 2010 2011 2012 2013 2014 Source: CompTIA 1.0% www.techvoice.org
  • 3. Positive Outlook, But Concerns Always Loom Tech Executives Feeling Slightly More Confident Heading into 2014 Key Concerns Keeping Tech Executives “Awake at Night” 1 Government 3 Labor costs / availability of skilled workers 4 62.0 Price sensitive customers hesitant to spend (aka lack of demand) 2 64.0 Competition from new firms entering space / disruption 5 Disruption from new technologies or business models 60.0 58.0 56.0 54.0 52.0 50.0 48.0 44.0 Q3 '09 Q4 '09 Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 Q1 '13 Q2 '13 Q3 '13 Q4 '13 Q1 '14 Forecast 46.0 Source: CompTIA www.techvoice.org
  • 4. Assessing Technology-Related Employment IT Industry Employment IT Occupation Employment Within the IT industry, there are many IT occupations www.techvoice.org
  • 5. U.S. Core IT Occupation Count: 4.74 million Midwest: 934 K Northeast: 906 K West: 1.2 M South: 1.6 M Sources: EMSI | U.S. Bureau of Labor Statics Quarterly Census of Employment and Wages | CompTIA www.techvoice.org
  • 6. State Level View of IT Employment Virginia Employment Landscape: 235,000 IT workers employed in a range of industries across the state VA Employers with the Most IT Jobs Postings Time period: during 2013 General Dynamics 3,945 SAIC 2,203 Mantech Intl 1,845 Northrop Grumman 1,801 CACI Accenture 1,687 1,584 BAE Systems 1,330 Lockheed Martin 1,285 Booz Allen 1,218 Computer Sciences 1,068 Capital One 1,008 Note: not all job postings lead to new hires. Companies may hire internally, outsource the work, postpone the hire, repost the position to attract new candidates or change direction and withdraw the job posting. www.techvoice.org Source: Burning Glass Technologies Labor Insights, January 2014
  • 7. 2013 U.S. IT Industry Employment Estimates IT Hardware Mfg. 1,098,725 employed Software Publishing 324,669 employed 5.7 million employed* in the U.S. Info Tech Sector IT Services 2,288,462 357,940 • • • • • • Computer &peripheral equipment Communications equipment A/V equipment Semiconductors & electrical components Measuring & control instruments Magnetic & Optical media Software Publishing: 12,187 establishments • Software IT Services: 228,373 establishments • • • • • Computer system design & implementation Custom computer programming Support and management Maintenance & repair services Computer training employed Telecom/Info Services: 67,047 establishments U.S. Employer Establishments Telecom & Info Services Includes technical and non-technical occupations. The 357,940 figure includes employer firms ONLY – firms with payroll and employees. There are an estimated 878,243 self-employed, non-employer entities. These could be consultants, contractors, independent mobile app developers and other individual entities without payroll. IT Hardware Mfg.: 18,835 establishments 1,526,839 employed Retail & Wholesale & Dist. 491,123 employed • • • • Wired telecom services Wireless telecom services Satellite services Data processing, hosting and search services Retail & Wholesale: 31,498 establishments • Computer & software stores • Computer, peripheral and software wholesalers • Online computer & related retailers www.techvoice.org Sources: EMSI | U.S. Bureau of Labor Statics Quarterly Census of Employment and Wages | CompTIA
  • 8. Technology Adoption Progression Trends Innovators Early Adopters Early Majority AntiTrends Late Majority Late Adopters www.techvoice.org
  • 9. Trends to Watch in 2014  Technology Becomes a Core Competency for More Businesses Macro Trends  Mass Customization Gets More Sophisticated  Processes and Workflow Get a Makeover  Technology Increasingly Embraced as the Remote Control of Life  Cloud Wars Intensify Tech Trends  Diverse Devices Flood the Market  Big Data Has a Little Sibling  Software’s Appetite is not Satisfied Source: CompTIA www.techvoice.org
  • 10. And, the Anti-Trends…  Enterprise digital divide persists Macro Anti-Trends  Options overload (“good enough”)  Reinventing work processes easier said than done  Digital fatigue  On-premise technology remains a mainstay Tech Anti-Trends  The PC still critical business tool that sells a lot of units  Some organizations not even ready for small data  Large installed base; hardware-centric mindset Source: CompTIA www.techvoice.org
  • 11. Thank You | Questions

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