In a survey of 880 TMT professionals reported Tuesday, TelecomCareers found that 40% of the respondents expect the U.S. economy won't fare as well as their industry over the next 6 to 12 months' 70% said they think their industry will grow or remain consistent.
"It is clear that while TMT professionals may be wary of the state of the overall economy, they are bullish on where their industry is headed, particularly in the wireless sectors," said John Scarborough, vice president and general manager of the Austin-based market research firm.
Of the various TMT sectors that appear to be most promising to the professionals in the TMT field, 40% cited wireless as offering the biggest opportunities while mobile application development was picked by 16%; also scoring high was the infrastructure-engineering-manufacturing segment with 16%.
The TelecomCareers survey roughly complemented another survey released in July by iSuppli, which predicted that widespread adoption of mobile Internet devices like the iPhone will drive social networking businesses beginning next year. iSuppli noted that while TMT represents just 5% of global gross domestic product, its impact extends far beyond their $3 trillion global value.
Managing director of research consultancy Illuminas Jay Shutter, who directed the survey for TelecomCareers, noted that recent data indicates that consumers may be trimming vacations and driving less frequently, "but most are unwilling to give up their cell phones, digital cable and Internet connections. This may explain why 63% of respondents believe global business spending on TMT will improve or stay consistent."