2020 State of
Executive insights on US- and UK-based tech companies and trending markets to watch.
Global expansion is a necessity for tech businesses to remain competitive in their space. The survey of 1,000 U.S. and UK tech executives reveals their ambitions for international growth, the most promising markets, and the challenges they face in 2020.
Investment is driving global ambitions
Businesses have a strong appetite for international growth and funding is powering their plans forward.
Global growth is the core focus for more than half of companies that received investment in the last 12 months.
The proportion of tech firms with a presence in five or more markets will increase radically in the next five years.
Nearly all SaaS, Big Data, and Agtech firms are planning on entering a new country in the next 12 months.
Percentage of firms entering new international markets in 2020:
Striving for growth, efficiency, and skills
Tech firms are hungry for new customers, economies of scale, and access to new talent.
Reasons why businesses look to new markets:
Target markets for global growth
Europe is the top destination for revenue growth in 2020, with Asia the most attractive for tech talent.
(including the Caribbean and Central America)
The top 10 most promising countries
The Global Expansion Tech Index™ highlights the most promising markets for tech companies according to key metrics such as growth, knowledge, and regulation. It reveals that attractive countries for tech firms, such as Sweden, Denmark, and Ireland, are flying under the radar.
04 United States-2
05 Hong Kong SAR, China-2
09 United Kingdom+3
02 United States
03 Hong Kong SAR, China
Barriers and challenges
Recruitment, employee immigration, and tariffs remain significant hurdles in 2020, while more tech businesses struggle with regulatory compliance.
Most commonly cited challenges associated with global expansion:
The proportion of businesses that have exited an international market:
New countries open doors to new customers and top talent, creating vital opportunities for ambitious, disruptive tech companies to expand their horizons and boost revenue growth and innovation.
View the full report at the link below for additional 2020 global expansion data and insights.
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