EU claims software R&D investment booming

Large tech firms are set to increase spending on research development despite economic constraints, according to the European Commission.

In the survey, businesses claimed they expect to make continued investment in R&D over the next two years, despite the economic crisis. This means a general increase of four percent annually over the period of 2012 to 2014.   For the software and computer service sector, R&D investment is set to grow significantly faster, by 11 percent per year on average, the report claims.

“This positive trend for corporate R&D investment is essential for European competitiveness,” Máire Geoghegan-Quinn, Commissioner for Research, Innovation and Science, said. “These companies are the main drivers in making the European economy more knowledge-based and smarter.”

The increase in investment in software development shows that the landscape is relatively positive for skilled IT workers. 

One of the problems facing companies is a lack of skilled staff however. According to John Grant at ITJobsWatch, many firms are still struggling to attract workers with relevant expertise.

“The overriding picture, this has been pre-Lehman Brothers events, is the difficulty in finding suitable candidates, even in this environment with the economy as it is,” he said. 
“There is a struggle to find candidates of the right calibre.”