Boon For IT Channel Firms to be Expected

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A recent report from CompTIA’s IT Industry Outlook 2022 shows that about 80% of IT channel companies are optimistic about their business prospects and feel similarly robust about their jobs and careers.

Even before the pandemic, technology companies had begun to adopt a dual approach to IT, but the transition to remote work really highlighted the sector’s potential.

Nevertheless, the report also notes that the growing uncertainty caused by the ongoing pandemic remains a major concern, as recovery in many sectors is taking longer than expected.

According to the report, companies that increasingly use technology to gain competitive advantages also give more opportunities for occupational mobility, which does not always mean moving to another company, as companies are now more willing to train their workforce to retain institutional knowledge and ensure that their qualifications are precisely adapted.

The direct economic impact of the tech industry already amounts to 10.5% of US GDP, or more than $2 trillion, according to the study. This does not include indirect impacts, such as every job in IT services and software development, resulting in a projected 4.8 million additional jobs that will be created or supported via direct, indirect or induced means.

The study also mentions an IDC forecast that the technology industry is on track to exceed $5.3 trillion in 2022 and grow at 5-6% per year in 2020, following a very strong performance.

Elsewhere, Western Europe is also a major contributor: research accounts for an estimated one in five technology dollars spent worldwide, according to the report.

Nonetheless, the report showed that China is rapidly outpacing everyone else as a major player in the global technology market, closing the gap in traditional sectors such as IT infrastructure, software, and services, as well as its leadership in emerging sectors such as 5G and robotics.

For more information, you may view the original story from TechRepublic.

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