Tech impact: Technology industry exposure and implications in major U.S. office metros
The modern technology sector has evolved rapidly and includes many different activities — from streaming video, digital advertising and internet publishing to virtual reality, video gaming, cloud computing, cybersecurity and artificial intelligence. There is also transportation technology, such as driverless cars and ride sharing. Life sciences accounted for nearly 20 percent of total tech leasing in 2018, followed by data processing, hosting and related services (i.e., cloud computing), with approximately 15 percent, according to Cushman & Wakefield.
Technology is part of just about every major industry. For example, fintech — the use of technology in the financial sector — is exploding. From payment processing and trading algorithms to blockchain payment systems and cybersecurity, fintech is among the fastest growing employment categories in many financial firms. Also, retailers are investing heavily in e-commerce technology. Growth in emerging technologies has mo