Executive Briefings

Digital Transformation Sparks Sales of U.S. IT Services Abroad

With all the talk of U.S. trade deficits, one tech sector is beginning to shine. Fueled by interest in digital transformation, American IT services firms are running a significant surplus, exporting software and digital services to foreign companies seeking to overhaul their business processes.

Digital Transformation Sparks Sales of U.S. IT Services Abroad

While the U.S. imported more manufactured technology goods in 2016 than it exported, it ran a trade surplus of $32bn in technology services, according to recent analysis from technology trade association CompTIA.

"Technology services, including software development services, have accounted for a growing share of industry revenues and new job growth,” says Tim Herbert, CompTIA’s senior vice president of research and market intelligence. That’s a testament to both the expertise and brand strength of U.S. IT service providers and the increased demand for digital business transformation around the globe.

U.S. technology vendors sold $202bn in manufactured goods abroad, down 1.3 percent since 2015 and reaching the lowest level since 2011, the report said. However, technology services continued to capture a larger share of U.S. tech exports, more than doubling since 2005 and exceeding 34 percent of total technology exports last year, according to CompTIA.

“Customers in many markets around the world are following the digital transformation path that we’ve seen with U.S. companies. The desire to enhance productivity, engage in e-commerce, or automate routine processes are most often a function of investments in software and IT services,” Herbert says.

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While the U.S. imported more manufactured technology goods in 2016 than it exported, it ran a trade surplus of $32bn in technology services, according to recent analysis from technology trade association CompTIA.

"Technology services, including software development services, have accounted for a growing share of industry revenues and new job growth,” says Tim Herbert, CompTIA’s senior vice president of research and market intelligence. That’s a testament to both the expertise and brand strength of U.S. IT service providers and the increased demand for digital business transformation around the globe.

U.S. technology vendors sold $202bn in manufactured goods abroad, down 1.3 percent since 2015 and reaching the lowest level since 2011, the report said. However, technology services continued to capture a larger share of U.S. tech exports, more than doubling since 2005 and exceeding 34 percent of total technology exports last year, according to CompTIA.

“Customers in many markets around the world are following the digital transformation path that we’ve seen with U.S. companies. The desire to enhance productivity, engage in e-commerce, or automate routine processes are most often a function of investments in software and IT services,” Herbert says.

Read Full Article

Digital Transformation Sparks Sales of U.S. IT Services Abroad