February 23, 2024

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New Zealand’s Tech Sector Continues to Strive Amid the Pandemic

While growth in tech exports will continue to be significant for New Zealand’s economy, the social and economic gains that technology can enable are so vast that we believe more emphasis should be placed on technology’s importance for New Zealand.

The tech sector in New Zealand is crucial to accelerating the mass digital transformation that began last year. The technology industry can also benefit from new investment capital and investors, which will help it grow and expand. With borders remaining closed, New Zealand’s tech talent shortage has been pushed to critical levels, due to its heavy reliance on immigration.

“It is essential government and industry invest in developing our digital workforce for the medium-to-long term, while businesses explore short-to-medium term options to engage remotely with offshore tech talent,” says NZTech chairman.

As per the Chief executive of NZTech, New Zealand’s tech sector has been delivering strong year-on-year growth that has been largely unconstrained by natural resource constraints or economic downturns. In addition to annual growth in weightless exports and job creation, the sector has facilitated the digital transformation of the majority of the economy.

Over the last year, even under the pressure of covid lockdowns and border closures, the New Zealand tech ecosystem continued to grow and deliver positive impacts for its economy and society. The key takeaways from the NZ tech year showed:

  • The sector has 23,229 companies, 111,760 employees and has $8.5 billion of exports globally
  • It makes up 8%of New Zealand’s GDP and employs 5% of the workforce
  • New Zealand’s top 200 tech companies earned $12.7 billion globally in revenue
  • The sector grew 11.4% and the median salary in 2020 was $95,000
  • Each 4% of growth in the tech sector provides $2.7 billion to the GDP
  • Each tech sector job creates five new jobs in other industries

This year, NZTech was also awarded the best contribution prize at the annual New Zealand Hi-Tech awards for its efforts in fostering a socially and economically prosperous New Zealand based on technology.

Companies are driving New Zealand’s tech sector advancement in areas ranging from insurance and health to sustainability monitoring in the textile and agriculture industries, as well as project management and remote working solutions. There is truly something for everyone when it comes to innovation across the country’s tech industries, with local start-ups paving the way for seamless live mobile streaming or more established companies assisting businesses in effectively managing Big Data.

As the world slowly reopens after the pandemic, there is still a push to support local economies. It is good to know that, even in an industry dominated by global behemoths, New Zealanders have the option of supporting new and growing local tech companies as another way to help rebuild the economy.

OpenGov Asia reported while the pandemic created a short-term demand for software and services to enable business continuity, remote working, and essential services, there is a much greater opportunity for local tech innovators to transform into global players, thereby supporting this country’s strong economic future. The government has acknowledged this in its Industry Transformation Plan for digital technology, which includes assistance for local businesses seeking international expansion.

Similarly, one of the driving factors in establishing a data centre region in New Zealand is the enormous potential to fuel business growth through cloud adoption and accelerate local digital transformation.

Technology encompasses a huge body of knowledge and tools that ease the use of economic resources as a way to produce goods and services efficiently and innovatively. Technological progress is essential to economic growth and development, and the more advanced the technology available, the more quickly the local and global economy can improve.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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