USA technology market: a connected community, and essential part of a global strategy
For technology companies with global aspirations, many have looked at the USA as the first international market to target as it’s traditionally seen as the powerhouse behind the global technology sector’s economic growth. Though globalisation has brought many more nations into the game, the US is still the key influencer on the global stage; for instance, 70% of all R&D spend in technology happens in the US.. One only has to look at the significant influence of key technology companies, such as Intel, QUALCOMM, Apple, Facebook and Google, to see the extent of the US market’s global footprint.
The forecasts for IT, telecoms and consumer growth demonstrate just how much the US is a key part of the global opportunity. In March 2012, The TIA (Telecommunications Industry Association) said in its 2012 market review:
• U.S. spending on wireless and wired network infrastructure will grow to US$296 billion by 2015, largely as a result of rapidly growing trends in for smartphone, tablet and cloud computing capability
• Telecom spending in the United States will top US$1.1 trillion in 2012 (compared to US$3.6 trillion for the rest of the world)
• Spending on U.S. IT-based cloud computing will be the fastest-growing category
The key trends and drivers for business and collaboration opportunities in the USA follow a similar trend to the global picture: mobile connected devices, multi-platform entertainment, mobile commerce, and cloud computing. What is different, however, is the availability of strong established software and social media hubs like San Francisco and New York, innovation clusters throughout the country, competitive academic integration into the clusters, and relative ease of access to venture capital.
The USA is a large market, not just for local domestic demand but also as the basis of creating hardware and software platforms that are addressing global markets. It is therefore an important market to understand and target in an effective way.