New technologies are driving massive growth in the tech sector across the globe, as major established companies and entrepreneurial startups alike continue to innovate. With so many of the big players of the tech world hunkered down in Silicon Valley and the West Coast, it’s easy to assume that the U.S. dominates the tech market. We may indeed be up there, but we’re not alone when it comes to being a hotbed of activity in this booming industry. Things may be looking good for the US, but what about the landscape abroad?
Tech in the US
The level of technological expansion is undeniably high in the U.S., with the West Coat being well known as ground zero for the launch of some of the nation’s largest tech companies in recent history. California’s “Silicon Valley” is home to behemoths like Apple, HP, Google, and Intel, among other significant brands. Then you have other heavy-hitters in the space, like Amazon and Microsoft, headquartered nearby in the Seattle, Washington region. And that’s not accounting for all of the other startups and reputable companies popping up elsewhere around the U.S., either.
America’s influence as a global tech leader is something that echoes throughout the results of our recent technology survey. Approximately 60 percent of those who responded said they feel the U.S. is a global leader in the technology sector, and 78 percent of those same respondents said they also feel the U.S. will continue to lead the pack for at least the next five years to come.
Data projections from the U.S. Bureau of Labor and Statistics show an anticipated growth of 684,000 new IT jobs by the year 2022, so it’s clear things the industry is still expanding at a rapid pace, with tech roles being among the fastest-growing jobs around. Additionally, our survey showed that roughly 73 percent of respondents agree tech jobs are more lucrative compared to jobs in other fields.
The Next Global Silicon Valleys
We’re not the only global neighborhood that’s buzzing with excitement on the tech front. Many cities scattered far and wide are becoming alluring prospects for tech-savvy entrepreneurs and major corporations alike. The biggest and most well-known tech companies often operate global branches in numerous countries, while other foreign locales are home to their own startup successes and groundbreaking gains. Here’s a quick look at some of the other standout countries that are also leading the charge in technology industry expansion.
Grabbing the top spot in Forbes’ annual Best Countries for Business ranking in recent years, Ireland has become a prime area of interest for tech organizations. Dublin is home to the European headquarters of numerous high profile tech companies, including LinkedIn, Facebook, Google, and Twitter.
Several major cities have begun building buzz a hotspots for tech growth in Australia.
Both Sydney and Melbourne are becoming fast-growing hubs for tech startups, fostering a prime ecosystem that could blow up in the years to come. This is one to watch, as more entrepreneurs expand on the foundation that’s been laid down here.
Our neighbors to the north are just as busy when it comes to their burgeoning tech frontier. Toronto is a major tech industry hub, with companies like WP Technology and Wattpad calling the city home alongside regional offices of Google and other major players. Vancouver, Ontario, and Montreal are all up-and-comers on the Canadian tech scene as well.
With a handful of local universities pooling their efforts together to drive its very own “School of Entrepreneurship,” it’s no surprise that Stockholm is a major contender among Swedish cities experience a tech industry boom. Spotify and Skype were both founded in Stockholm, which is a popular destination for foreign investors and tech-savvy entrepreneurs.
With other global hotspots spawning their own versions of Silicon Valley, and as the economy continues to improve, it’s a great time to be a part of the global tech workforce. The IT industry will continue to evolve at a much faster pace than most others and Modis is keeping an eye on the evolution.
Our new white paper discusses what American’s think about the Tech industry in the U.S. compared to other countries and goes in depth about what the future of tech looks like. We also offer real workplace insights from workers themselves, including what workers actually want in terms of benefits. Download our new white paper for more workplace insights.