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A Big Year Ahead for the Technology Industry

Posted by FGP Intl. on 07/28/16 -

The technology industry has been one of the U.S. economy’s fastest growing sources of employment for years. And it’s not slowing down anytime soon. According to recent reports, the tech industry is poised for exciting growth this year.

In 2015 alone, the industry added nearly 200,000 jobs for a grand total of 6.7 million. The tech sector with the greatest individual job growth was information technologies, which added 105,400 jobs. Coming behind IT was the research and development, testing and engineering services sector with 48,100 jobs.

This pattern of growth won’t stop if capital investment trends are any indication. A recent study by Goldman Sachs looked at the investment plans of more than 2,500 firms and found that the budgets for Internet, software and other technology are expected to grow by more than 25% in 2017. The study also found that tech firms are planning to invest heavily in hardware next year, which could signal an upcoming boom.

So what’s driving this growth?

It boils down to new developments in technology. Companies of all sizes are beginning to recognize the power of cloud computing, automation technologies, mobility management and social technologies – and they’re all rushing to implement them. Cyber security and the Internet of Things also saw big advancements in 2015 that continue to fuel the industry’s expansion.

IT Staffing & Solutions

With innovation, adaptation and development, the tech industry will remain strong for some time. Let FGP Tech match skilled IT professionals for all your IT staffing needs. For staffing and recruiting services in technology, give us a call at 1-877-819-7619.

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