Tech is Booming Again

From the depths of the Great Recession last year, it seems the IT industry is booming once again. That’s not only something that we here at Monitis are seeing, in terms of new customers and expanded business, but the trend is also confirmed in the hefty profits and pumped-up hiring trends of technology companies large and small.

On April 16th, The Wall Street Journal reported in a front page story that “Tech Leads to Jobs Recovery,” citing a recent string of positive numbers, for instance from Google (37% rise in first-quarter earnings), chipmaker ADM (34% Q1 revenue increase) and ADM rival Intel (quadruple growth in profits from a 44% jump in sales). In fact, Standard & Poor’s forecasts a 79% rise in tech industry earnings for the first quarter from year-ago levels.

On the hiring front, the story mentioned Google’s hiring of nearly 800 employees in the first quarter, and said that Intel, earlier this week, announced it would hire up to 2,000 people in 2010. And it’s not just the big tech players that are hiring. Social networking company LinkedIn, for example, has hired 154 people so far this year, following taking on 184 last year – mostly in the fourth quarter. And Twitter, which now has about 170 employees, added 125 since last May, said the story. And on the tech jobs website, positing were up more than 10% so far this year.

I’m predicting continued growth in employment around cloud computing, not only for companies like Google and Microsoft and H-P who continue to develop their cloud platforms, alliances and services, but also for service providers, such as monitoring companies.

Backing me up on this are these new statistics on profits and hiring – and of course, what we here at Monitis are seeing in terms of our own growth. Last year, we grew our customer base by 400% and our revenue by 500%. And this year the robust growth continues (I’ll update you on that in a future post).

I think all these good signs show a growing recognition by companies that accessing services, information and apps via the cloud – but safely and securely – is a major part of the future growth of IT.

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