The recession hit rock bottom in Europe but now businesses are ready to invest their way out, according to an executive from Juniper Networks.
During a briefing at the company's latest launch today in New York, Gert-Jan Schenk, vice present of Juniper Networks in Europe, the Middle East and Africa (EMEA), said his company was entering the "next phase in [its] history" and thinks businesses are ready to follow.
"The last couple of quarters are luckily enough behind us," said Schenk. "Europe was hit the hardest because of the banks... and got quite a significant dip after the financial crisis."
"[However] by the end of 2008 when [the recession] reached its peak, we commissioned research and found out a lot of companies were pretty persistent that they would continue to invest in high speed networks and definitely continue to plan to get efficiency and complicity into their companies," he added.
He compared the situation to the growth in energy efficient light bulbs in the home, which over the past four quarters has shot up rapidly, saying efficiency will be key.
"I strongly believe not just us private people but also a lot of the businesses coming out of the recession will watch out better how they will spend their money and look for efficiency."
Although Juniper is focused on enterprises, Schenk believed small and medium-sized businesses (SMBs) are also set to recover.
"The signs are there and once the consumer starts to spend more aggressively it will come down to the small and medium businesses," he concluded.
