The US has the largest information technology market in the world. With a vibrant culture of technological innovation and entrepreneurship, it is home to many leading hardware, software, and tech service providers.
It is also the world leader in startup ecosystems, with Boston, Chicago, Los Angeles, New York City, Seattle, and Silicon Valley consistently ranked in the world's top ten. These ecosystems have deep resources: top universities, leading tech companies, innovative multi-national companies, and active venture capital firms.
Major technology companies based in Silicon Valley include Apple, Cisco, Dropbox, Facebook, Google, Intel, Salesforce, and Twitter.
Want to innovate and transform your business? Then consider working with US technology companies. You can explore acquiring or licensing US technologies, developing new business models or building new products on key US technology platforms.
If you run a technology company, you can also work with US technology companies to help you scale regionally and globally. For example, you can co-create or integrate your products with US technology platforms to market and distribute globally, or utilise mentorship, accelerator programmes, and funding to grow more quickly.
The US is the world’s largest consumer market, valued at US$13.4 trillion (S$18.1 trillion) in the third quarter of 2017. Consumer confidence is at an all-time high in 15 years, as more people are employed and can now afford to spend more on consumer goods.
The typical US consumer is receptive to both domestic and imported brands, given the open and broad nature of the US market. This enables you to tap the rising consumer confidence and spending to introduce your brand to the US market.
Coupled with the established reputation of the Singapore brand, your company has a good chance of being welcomed and well-regarded in the US market. This success can be your company’s launchpad to becoming a global brand, following the footsteps of two Singapore-based restaurant chains – Crystal Jade and Veganburg – which opened restaurants in San Francisco in 2014 and 2015 respectively. Here’s a detailed guide on how your business can capture the growing Consumer Food trends in the United States.
There are a few ways to ease your company’s entry into the US market. One of them is through the partnerships that Enterprise Singapore forms with US companies such as Amazon, eBay, and Newegg. Alternatively, you may partner and learn from US brands as they expand into Asia.
If you are interested in the US market, don't miss the Consumer Electronics Show, the world's leading trade show for consumer technologies.
The US is home to large industries across different manufacturing sectors, including aerospace, medical, and pharmaceutical.
Ride on the revival of the US manufacturing industry. The US is bringing manufacturing activities from China and elsewhere back to their shores, and exports are growing. This may add 2.5 million to 5 million jobs for Americans by 2020.
If your company is in the aerospace or medical devices industry, consider venturing into the US market to tap its position as the global leader in these industries in terms of market size, influence and top companies:
The world’s largest aerospace manufacturing industry contributed US$143 billion (S$193.1 billion) in export sales to its nation’s economy in 2017. This accounted for 34% of global aerospace exports, up 4% since 2010, making the US the global leader in aerospace exports. The industry attracted more than US$21 billion (S$28.4 billion) in foreign direct investment in 2017.
The US aerospace industry offers tremendous opportunities for aerospace manufacturing companies such as yours. Consider becoming an aerospace supplier to industry leaders such as Boeing and Northrop Grumman, which have made significant investment across the US.
The US is also the world’s largest medical devices market, with an estimated size of US$156 billion (S$210.6 billion) in 2017. This represents about 40% of the global medical device market.
You can explore providing services to global medical device corporations in the US, such as Affymetrix, Applied Biosystems, Eppendorf, Medtronic, and Waters. These services can range from contract manufacturing, industrial design to prototyping services. With 15 out of the world’s top 20 medical device manufacturers headquartered in the US, generating revenues of at least US$4 billion (S$5.4 billion) each, there is huge potential for you to enter the US market in this sector.
The oil & gas industry widely adopts hydraulic fracturing or “fracking”, a process of blasting water at high pressure into shale rock to release oil (or gas) held within it. This has unlocked the US’s vast shale resources.
The US is now the world’s largest producer of natural gas and refined petroleum products, as well as the third largest producer of oil.
Although fluctuating oil prices will likely have an impact on US oil & gas production levels, you can still target opportunities in upstream oil & gas asset investments (shale and conventional oil). You can also explore the provision of oil & gas equipment and services for exploration and production.