The technology industry is composed of companies producing electronic components, scientific and technical instruments, computer hardware and software, and computer services. It is a very fast paced, competitive industry in which innovation is the key to success.
The Technology industry is Highly Concentrated. The production in this industry is dominated by a small amount of large firms that are able to shape the industry’s direction and price levels.
Primary Demand Drivers
- Income of consumers
- Increasing customer sophistication
- Profitibility of business customers
- Developing and marketing new products
- Gaining expertise in a particular field of knowledge
- Achieving access to capital
- Creating a faster time-to-market process