Tech Index 2024: Riding the next big wave
In a deeply unstable geopolitical environment and with economic recovery proving extremely sluggish in many key markets, the tech industry is nevertheless in a very confident mood as it looks towards opportunities for future growth.
That is the clear conclusion of DLA Piper’s biennial Tech Index which, unlike the previous six editions that focused exclusively on Europe, for the first time takes a truly global snapshot of opinion from across the tech sector.
DLA Piper has widened its sample, interviewing 1,200 industry executives, investors and government and regulatory officials right across North America, Latin America, Europe, the Middle East, Africa and the Asia Pacific Region.
Their survey takes in companies of all sizes from small enterprises employing less than 100 people right up to major businesses with more than 10,000 employees and with revenues ranging from USD10 million to USD10 billion.
In buoyant mood
Given the expanded scope of the latest Index and the diversity of markets it covers, there are some surprising findings not least - given that we are still living in troubled times - a strikingly high level of confidence among respondents the world over.
That buoyant mood is reflected in the overall tech score for 2024 which stands at a record-breaking 71. This is three points higher than the score we recorded in our last Tech Index of 68, which was itself the previous highest overall score on record.
It’s also significant that that sense of optimism is pretty consistent in all the regions where we took soundings, with only slight regional variations. It’s highest in North America, Latin America and Africa, and only slightly lower in the Middle East, Europe and AsiaPac.
Overall Tech Score
The Global tech score for 2024 is 71. The overall tech score is broadly similar across all regions - but is slightly higher in LATAM and Africa and slightly lower in the Middle East, Europe and APAC.
Our respondents express confidence about the current economic environment, capital venture markets, the availability of talent and about the overall regulatory environment, although they are less comfortable with the tax regimes in certain markets.
To learn more about the methodology behind the Tech Scores, please download the full report.
Africa – the next great leap
Over the past 25 years, technology has driven Africa's development, with mobile telecoms and innovative financial services playing a key role. Today, around 800 million Africans have internet-capable devices, and a significant majority in many countries use mobile money platforms. While rural connectivity remains a challenge, efforts are underway with the expansion of fibre, satellite, and wireless networks. This mobile revolution has enabled Africa to leapfrog traditional landline technology, boosting economic growth and reducing poverty. As digital transformation accelerates, especially with AI, Africa is poised for its next major technological leap forward. To learn more about the trends across Africa, download Africa – the next great leap.