According to data from Gartner, worldwide IT spending is around USD4 trillion a year with North America, Western Europe and Asia Pacific as the largest-spending regions. Overall spending is increasing by 3-4% p.a. but sectors such as enterprise software and IT services are growing considerably faster than this.
The six largest tech companies by revenue in Fortune’s Global 500 list for 2019 were Apple, Samsung Electronics, contract manufacturer Foxconn, Google’s parent company Alphabet, Microsoft and Huawei, all of which had revenues in excess of USD100 billion (Amazon’s 2019 larger than Samsung’s but Fortune now lists Amazon as a retailer rather than a tech company).
The UK’s technology sector is the third-largest in the world, with annual revenues in excess of GBP180 billion. The tech industry works at a 75% higher productivity rate than other domestic industries and is growing 2.5 times faster than the economy. Over GBP13 billion of venture capital was raised for UK start-ups in 2019, and the government is keen to encourage this sector which it sees as a major driver of growth as the UK seeks to find its way outside the European Union.
Telecommunications and ICT clients accounted for around 5% of total market research spending in 2018, and they are key customers for FieldworkHub. We have successfully completed a large number of projects for technology companies covering a diverse range of topics including embedded processors, smart homes and smart devices, virtual reality headsets, enterprise software, mobile apps, online advertising, social media, and public policy topics.