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Technology companies pessimistic about 2011

Kathleen Hall

Technology businesses are more pessimistic about market growth than telecoms and media companies, according to research from GfK NOP for Simmons & Simmons.

In the TMT sector, almost 24% of tech businesses predict a decline in their market over the next 12 months, compared with 22% in media and 17% in telecoms.

The survey also found European TMT providers are markedly less bullish in attitude than their competitors in Asia, the Americas and the Middle East.

Around 80% of American companies say they are preparing for growth, compared with 63% of European companies surveyed.

Europe is less optimistic in prioritising emerging market opportunities, with around 60% of businesses seeing the BRIC (Brazil, Russia, India and China) economies as a growth priority, compared to more than three quarters of TMT companies in Asia, the Middle East and the Americas.

Andrew McMillan, TMT partner at Simmons & Simmons, said: "European providers will need to be bold to maintain a competitive edge in the global market and not lose ground to their global counterparts."

The research was carried out among senior executives in more than 600 companies across the Americas, Europe, the Middle East and Asia.


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