The Irish IT industry is at the centre of a global tech bubble

The Irish IT industry is at the centre of a global tech bubble

September 20, 2021 Comments Off on The Irish IT industry is at the centre of a global tech bubble By admin

The Irish technology sector is a global magnet for money, but some Irish companies are still finding it difficult to compete with Silicon Valley, with many facing competition from rival companies and investors, according to research by consulting firm Technomic.

Key points:In recent years, Ireland has become a key hub for US IT technology, but its focus has been on IT, not technology transferTechomic’s research found that the IT sector accounted for nearly €10bn in US investment last year, making up just 4% of the country’s GDP.

“There is a very big amount of investment in Ireland by US firms in the IT industry, but there is not enough competition,” said Patrick McBride, head of technology and emerging markets at Technomic, which carried out the research.

“The fact that we have so many US tech companies in Ireland has not made it easier for us to compete against them.”

For the last decade, we have been at the forefront of the technology transfer revolution, but we are not the dominant player in the sector anymore.

“We are competing against the likes of Microsoft, Apple and Google, but the gap is growing.”

It is not just the US that has started to make the leap.

“What has changed is that in recent years the Irish technology industry has become increasingly focused on IT transfer and has developed a global hub for technology investment,” said Mr McBride.

“I think that is changing the competitive landscape.”

Mr McBride said the US was “doing a much better job” of attracting the global tech companies it wants to attract to Ireland.

“It is a big deal that we are now getting more of these multinationals that want to invest in Ireland.

That is going to have a big impact on the Irish tech sector in the future,” he said.

Mr McBrides research found most Irish IT companies had not yet launched a business unit, and were looking to expand their base.

Mr Moulton said that the industry was still looking to build a new business unit that could provide a competitive edge.

“As we look ahead, it is critical that we continue to invest to create the next generation of innovation and our future,” Mr Moulston said.

“Technology transfer is a key driver of our growth, but this will require continued investment in the industry.”

TechMat has produced the top 10 tech companies according to the Technomic index.

The top 10 companies in tech, ranked by number of employees, revenue and share price:Google (US$46.6bn)Amazon (US $30.5bn)Facebook (US-Australia$25.1bn)Microsoft (US-$22.9bn)Twitter (US – US$22.6 billion)Netflix (US – US$19.7bn)Uber (US +US$20.5b)Facebook Facebook (US-)Amazon (UK-US$17.5 billion)Facebook Amazon (US+US$15.5billion)Apple Apple (US+)Google (UK)Microsoft Google (US)Microsoft Apple (UK+)Amazon (AU)Apple (AU+)Microsoft Google, Inc (US), AAPL, AAPL-NASDAQ:GOOG, NYSE:AMZN, FTSE:AMAZ)The top 50 tech companies, ranked according to total revenue, share price, revenue per employee and market capitalisation:Apple (US= $1.5 trillion)Facebook Apple (AU= $7.4 trillion)Microsoft Microsoft (US)= $5.8 trillionAmazon Amazon (AU)= $2.8trillionNetflix Netflix (US)/Amazon (EU)= $1 billionUber Uber (US/AU)=$1.7trillionMicrosoft Microsoft(US)=$4.9trillionGoogle Google(US)/Google (AU)/Amazon Google (AU):$3.3trillionUber Uber(US)-US$5.4trillionAmazon Amazon(AU)=US$3bnApple Apple(US)=US$2.5trillionApple Apple ($US)/Apple (UK)=US $1trillionFacebook Facebook(US)+Apple (EU)=$1 billionNetflix Netflix(US/UK)=$923 millionUber Uber Uber(EU)=US-$726 millionFacebook Facebook($US)-Apple(AU)=AU$721 millionApple Apple($US)/Microsoft(UK)=AU$700 millionAmazon Amazon($US)+Microsoft(AU)/Google(AU):US$701 millionMicrosoft Microsoft($US)$2bnGoogle Google (UK)+Microsoft (AU)+Apple Google(AU)+Amazon Apple(AU)-US $702 millionAmazonAmazon Amazon ($US)+Google(US):US $701 millionFacebookFacebook Facebook$US-$US$US$1bnApple AAPL AAPL(US), +$US $US$0.7 billionFacebook Facebook+Google+Amazon Google+Amazon+Amazon(AU)(US)Google Google