Tech Growth Predicted For '99 - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Tech Growth Predicted For '99

The uncertain economy is not holding back executives at technology companies from predicting growth in 1999, according to a report released yesterday by PricewaterhouseCoopers.

According to the company's quarterly "Technology Barometer" survey of 376 executives at fast-growing technology product and service companies, business leaders are predicting overall economy growth of only 2.7% for 1999, and only 52% of the respondents said they are optimistic about the economy. Yet within the technology industry niche, the respondents are expecting growth rates of 11.5%. When it comes to their own businesses, the respondents are even more confident, anticipating gains of 25.2%. The predictions succeed an expected revenue growth for 1998 of 21.3% over 1997, a slightly lower result than the executives had expected earlier this year.

Taking advantage of the prospective growth, 50% of the executives will be making major investments next year, pouring 10.7% of composite revenues into business growth--and 67% of that will go into IT investments.

"Although there's a rosy picture here, these firms are casting a wary eye," said Pete Collins, director of the PricewaterhouseCoopers survey. According to Collins, respondents admitted increased concerns about maintaining market demand and profitability than in past years. And while they are making business growth investments, they're not increasing the investment amounts significantly over last year.

Also of concern is the shortage of qualified workers, Collins added. "The pool of qualified workers is becoming exhausted, but companies are being cautious and not looking to hire a lot more people, so the focus is going to be more on productivity and getting the most out of the people they have."

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of Cloud Computing - Fall 2020
The State of Cloud Computing - Fall 2020
Download this report to compare how cloud usage and spending patterns have changed in 2020, and how respondents think they'll evolve over the next two years.
News
Top 10 Data and Analytics Trends for 2021
Jessica Davis, Senior Editor, Enterprise Apps,  11/13/2020
Commentary
Where Cloud Spending Might Grow in 2021 and Post-Pandemic
Joao-Pierre S. Ruth, Senior Writer,  11/19/2020
Slideshows
The Ever-Expanding List of C-Level Technology Positions
Cynthia Harvey, Freelance Journalist, InformationWeek,  11/10/2020
Register for InformationWeek Newsletters
Video
Current Issue
Why Chatbots Are So Popular Right Now
In this IT Trend Report, you will learn more about why chatbots are gaining traction within businesses, particularly while a pandemic is impacting the world.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll