Competition between tech companies greatest obstacle for business

According to a recent survey conducted by BDO USA, the greatest challenge for tech companies is the stiff competition and consolidation occurring in the IT market.

"Tech companies are competing like never before," said Hank Galligan, leader in the technology and life sciences practice at BDO USA. "Last year the industry entered into growth mode, and while that is largely positive, it also fueled rivalry. In 2012, the battle is on for talent, intellectual property and market share as companies look to emerge as leaders in the industry."

The increasing competition in the marketplace may be influencing salaries for a number of IT careers. Ninety-four percent of CFOs said they believe their compensation will either stay the same or increase in the upcoming years.

The survey also found that industry growth in the IT world will come from the economic recovery, a sentiment shared by half of the respondents.

Another study monitoring the IT world found that there are an abundance of new IT jobs due to the "App Economy." The study conducted by TechNet found that since 2007, the App Economy has added 466,000 jobs, opening the door to a wide range of new IT careers.

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