Tech business. It is an industry that is only looking to increase in value. 

At the end of 2021, the entire industry was worth $5.2 trillion. For that reason, along with the potential to make a quick fortune if you are successful, more and more people want to have a tech business startup. 

However, while the industry is growing, there are changes every year that you should be aware of. You need to know which direction the tech industry is heading. 

This guide will show you some tech business stats that you should be aware of before you decide if you want to jump into this industry or not. 

US Tech Market Is 35% of the Global Market 

One thing that you should be aware of if you are starting a tech company in the United States is that the country has one of the largest presences in the global tech market. 

As of 2022, the United States makes up 35% of the global tech market.

What does that mean for you? It means that assuming you want to start a tech company in the United States, you could have an increased chance of having a global presence. 

You are coming from a country that already has a reputation for having this presence in the industry, so use that as a means to potentially tap into the market of other countries. 

Cybersecurity Is a Priority for 84% of Businesses

In a world that is relying more and more on technology, we need to take measures that ensure nothing goes wrong with said technology. That is where cybersecurity comes in. 

Some of the best hackers in the world can hack even the most secure tech setups. However, that does not mean that your company has to make it easy for them. 

If you are looking to start a tech company in 2023, one area that you need to make sure that you cover as soon as you start is cybersecurity.

When customers sign up to use the services of a company, they are saying that they trust that company with their personal information. Your company needs to make sure that it is a safe space for customers to give their personal data and their financial information. 

If your company does not take measures to establish this presence, you risk the possibility of a data breach. This can put information such as customers’ names, email addresses, bank account numbers, social security numbers, and more at the hands of the wrong people. 

That can even lead to identity theft, which is becoming a bigger and bigger problem as technology evolves. Use the stat above as reinforcement that your company needs to be on top of its cybersecurity going into 2023. 

Tech Is the Second Largest Industry in the United States 

Some may be surprised to find this out, but the tech industry is the second largest industry in the United States. The only industry that is larger than this one in the country is healthcare. 

The tech industry makes up 10.5% of the US GDP while healthcare makes up 17.7% of the US GDP.

To put these numbers into context, tech nearly doubles the fourth-highest industry on this list. For those curious, that industry is retail, which is 5.5% of the US GDP. 

Should this be a big surprise? When you think about it, not really? 

The tech industry is responsible for entertainment such as video game consoles, cellphones, televisions, headphones, laptops, tablets, chargers, and more. People spend a lot of money on those items and some take it a step further to get the latest and greatest in that category. 

With technology evolving and becoming a bigger part of society, this percentage may get even higher in the future. 

Average Salary Is $71,809 

So, some of you that are thinking of jumping into the tech industry may be curious on how much money you stand to make. Well, the answer is just under $72,000 in the United States. 

Keep in mind that this is just the average. So, for those of you that are discouraged, you do have the opportunity to move up and earn more. 

This is not a guaranteed salary for those who own a tech business startup. However, you should still know this number as a number that your employees may expect to get paid. 

That average is about $20,000 higher than the average American salary. So, in that regard, you will still have an advantage on some of those around you. 

Also, those even just starting out in the tech industry still earn around the same amount as the average American salary. In other words, the tech industry has a high floor for those that are seeking to make a comfortable living. 

In many parts of the United States, this salary should be more than enough to live a pretty comfortable life. The best part is depending on your job in the industry, you can take your job remotely and go live in a more affordable part of the country. 

Start Your Tech Business 

These are a few of the biggest statistics that you should know about the tech business going into 2023. You should have an idea of what the average salary someone in the industry will expect to make, how big the industry is in the United States and on a global scale, plus the importance of cybersecurity. 

Now that you know this, do you want help getting word about your business out there? Message us to see how we can help you do that.