|By PR Newswire||
|March 13, 2014 11:44 AM EDT||
LONDON, March 13, 2014 /PRNewswire/ -- Reportbuyer.com just published a new market research report:
"IT Business Confidence Tracker Report Q4 2013" is a new report by Kable that globally analyzes industry opinions on the latest economic and customer issues, and their impact upon investment decisions and growth prospects within the IT industry. This report also examines the current and future state of economy and its retrospective effect on the industry. Furthermore, it analyzes the change in ICT product and services prices, industry growth prospects, customer confidence levels, and market trends currently affecting industry dynamics. The report identifies the pressing business concerns and key business priorities highlighted by industry executives which will affect the company's performance over the next six months.
Introduction and Landscape
Why was the report written?
This report is the result of an extensive survey drawn from Kable's exclusive panel of industry executives. The report analyzes current economic conditions prevailing across the globe and their impact on the IT industry, and forecasts the industry's growth prospects over the next six months. The report provides information about projected changes in the price of ICT products and services from existing levels, and identifies changes in customer confidence levels and investment activity towards specific sectors within the industry.
What is the current market landscape and what is changing?
Overall, 69% and 68% of respondents expressed a positive outlook for both company and industry growth prospects over the next six months, respectively.
What are the key drivers behind recent market changes?
'Increase in market share' and the ability to 'retain customers' are the most preferred priorities by executives operating across all the regions.
What makes this report unique and essential to read?
"IT Business Confidence Report Q4 2013" is a new report by Kable that analyzes the industry sentiments globally on the latest economic and customer issues and their impact upon investment decisions and growth prospects within the IT industry. This report also examines the executive opinion about current and future state of economy and its retrospective effect on the industry. Furthermore, it analyzes the change in ICT product and services prices, sales performance, and staff headcount within the industry over the next six months. In addition, it provides an overview of the key priorities, threats, and opportunities for the global IT industry over the next six months.
Key Features and Benefits
To identify the current and future operating conditions of the global economy.
Analyzes the global economic situation over the next six months as identified by respondents.
Uncovers the key issues and challenges that prevent respondents from doing business.
Forecasts the change in prices of ICT products and services over the next six months compared to the current scenario.
Identifies the major changes in customer confidence levels in the IT industry over the next six months.
Key Market Issues
Overall, 50% of respondents state that they are operating in a 'stable' economic environment, while 29% state that the current economic conditions are 'unfavorable'.
In total, 67% of industry executives have anticipated that the global economic outlook over the next six months will 'slightly improve' in Asia-Pacific.
Industry confidence is comparatively low - particularly in Europe as the economy is improving at a slow pace due to growing uncertainty and social unrest, resulting in decrease of IT budget from companies.
Across the globe, an upsurge in new competition is the biggest concern for industry executives, while cybercrime has become a major concern for IT companies operating in North America.
'Improving operational efficiency' and 'growing market share' are key priorities over the next six months for respondents who are operating in Asia-Pacific.
Overall, 40% of industry executives forecast at least a 2% increase in software prices over the next six months.
Executives expect staff head count to rise marginally over the next six months in North America, Europe, and Asia-Pacific.
Industry executives from Asia-Pacific highlight the global economic situation and the new government legislation in their area of operation as key concerns that impact their company's performance.
New product development and social media strategy will be the two areas where industry executives expect to increase expenditure the most over the next six months with the intention of building customer relationships.
In total, 94% of respondents operating in Asia-Pacific forecast an improvement in their operational efficiency in 2013-2014.
Tata Consultancy Services, Seagate Technology, Infosys, Cisco, Cognizant Technology and SAP
Read the full report:
IT Business Confidence Tracker Report Q4 2013