2019 State of
Global Expansion
Tech Industry

Executive insights on US- and UK-based tech companies and trending markets to watch.


For tech businesses, international expansion is an inescapable requirement of continuous growth. A survey of 1,000 U.S. and UK tech executives revealed their short- and long-term ambitions and motives for global expansion.


A hunger for global growth

Businesses want to expand—and do so quickly.

 

90%

Nearly all U.S. and UK tech businesses will expand into new international markets

64%

Almost two-thirds of tech businesses operating in only their domestic markets will move overseas in the next year


What's driving this appetite?

Reaching more customers is a key driver of overseas growth, but it is not the sole motivator.

49%
52%
45%
42%
45%
33%
27%
28%
29%
25%
18%
12%

The most-desired global destinations

When it comes to revenue growth, Europe dominates—with North America second.

21%20%North America
(including the Caribbean and Central America)
38%30%Europe
17%29%Asia
6%4%South
America
5%4%Africa
8%7%Middle
East
1%1%Oceania

The top 20 promising markets

The Global Expansion Tech Index highlights the most promising markets for tech companies according to key metrics such as growth, knowledge, and regulation.

01 Netherlands

02 United States

03 Hong Kong SAR, China

04 Denmark

05 Singapore

06 Ireland

07 Sweden

08 Switzerland

09 Germany

10 Finland

11 Korea, Rep.

12 United Kingdom

13 Canada

14 Australia

15 Norway

16 Austria

17 Malaysia

18 Israel

19 Czech Republic

20 China

VIEW THE FULL INDEX


Looking ahead

Despite the ambitions for global expansion, a high proportion of tech firms haven't left their domestic markets. This will radically change in the next five years.

 

Proportion of businesses present in five countries or more:

 

2019 21%
End of 2024 76%

Bumps in the road

Businesses face significant challenges when they make this leap for the first time.


The most commonly cited challenges associated with global expansion:

46%
36%
42%
39%
30%
26%
29%
30%
27%
23%
17%
21%
14%
14%

The proportion of businesses that exited an international market:

43%
33%

To outpace the competition and become an industry-leading organization, tech firms must embrace the fact that expanding into multiple markets is no longer optional; it is a necessity. View the full report at the link below for additional global expansion data and insights.

 

VIEW THE FULL REPORT

 

 

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