CompTIA's 2017 IT Industry Outlook Predicts Strong Growth

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CompTIA's 2017 IT Industry Outlook Predicts Strong Growth

Strong cloud services adoption and rapid growth of internet of things deployments will contribute to a particularly strong year for the IT industry worldwide.

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The Growing Importance of Core IT

Core IT is cementing its presence in the industry, according to CompTIA. Spending on IT hardware, software and services reached 59 percent of the global spend last year, while telecom services accounted for 41 percent of total IT spending last year.

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IT Industry’s Business Confidence Is Soaring

The CompTIA IT Industry Business Confidence Index is forecast to reach almost 70 points out of 100, its highest point in years. In contrast, during the third quarter of 2009, IT industry business confidence stood at less than 50.

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IT Workforce Continues to Grow

The U.S. IT workforce grew considerably in 2016. Total IT jobs in core IT markets reached 5.3 million, up 2.5 percent compared to the 5.1 million in 2015.

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Here’s Where IT Professionals Are Working

More than 2 million of IT workers reported being employed in the professional, scientific and technical services space, followed by 681,000 in the Information segment and another 490,400 in the government space. California, Texas and New York have the largest number of IT workers.

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IT Salaries Range from $45,000 to $141,000

According to the report, the average IT worker makes $85,977 a year. The top 90th percentile of workers makes more than $141,000 a year and the lowest 10th percentile makes more than $45,000.

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Finding Good IT Talent Is Challenging

IT industry executives in the United States believe this year may prove challenging in finding good talent. In fact, 47 percent of respondents said hiring will be either “significantly more” or “moderately more” challenging in 2017 than it was in 2016. Just 10 percent of executives believe this year’s IT job market could be stronger.

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Here’s Why There Are Challenges

According to the report, 56 percent of American IT executives expect difficulty in finding the right talent for emerging tech fields, while 40 percent predict difficulty in finding workers with the right soft skills. They’re also concerned about competing with other companies for sought-after talent.

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Positions Companies Are Looking to Fill

There are several “emerging” job titles for which companies will be looking to hire in 2017, according to CompTIA. Chief data officer, chief marketing technologist, data architect, cloud services engineer and AR/VR engineer all made the list, as well as internet of things architect.

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How Technology Impacts Business

Technology continues to play a critical role in business. In fact, 43 percent of executives said technology allows for certain business processes to be run. Another 39 percent said technology is driving business outcomes. More than a third of respondents believe IT is driving corporate strategy and “redefining” businesses.

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There Are Mixed Views on Cloud computing

Opinions are mixed over the cloud’s value to customers. While 39 percent of respondents said the opportunity from cloud computing is the top reason companies should be optimistic, 30 percent said the cloud is a leading reason companies should be pessimistic.

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PwC Tracks Top IT Industry Acquisition Targets for 2016/2017

The technology industry continues to be a hotbed of acquisition activity, new data from PwC shows. The worldwide consulting firm in January released its annual Deal Insights data for 2016 and 2017. The firm found that more than 1,600 technology deals were announced last year, including 11 that were valued at more than $5 billion each. Its data suggests the software and IT services sectors are among the most attractive in the mergers and acquisitions field. Companies and startups in cloud computing, artificial intelligence and the internet of things are expected to be sought-after M&A targets in the coming years. In fact, in its look ahead to 2017, PwC reported that companies in the cloud software industry will be in especially high demand. This slide show will dig into far more detail about the PwC technology industry acquisition data and outline the market segments that could see significant...
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