Forrester Report: Brighter Days Coming for Tech Spending
By Barry Levine Jan 4, 2013
With the release of a new Forrester Research report, it's apparent we will be looking out for growth in the global tech market of as much as 3.3 percent this year — with the U.S. market growing 7.5 percent.
The report, the "Global Tech Market Outlook 2013 to 2014," said that the continued recession in Europe and slow growth in Japan are downward pressures on the global projections. Additionally, the strong U.S. dollar is depressing growth if measured in that currency. If measured by local currencies, the global market will increase by a projected 5.4 percent this year.
7.2 Percent Next Year in the U.S.
Outside of Europe, where the economic conditions are leading IT departments to cut their budgets, tech spending is expected to grow by at least 5 percent. Asia Pacific will increase by 4 percent this year, and Latin America, Eastern Europe, the Middle East and Africa are projected to increase spending by a whopping 9 percent.
2014 also looks good for the non-European regions, with the U.S. at 7.2 percent, Asia Pacific increasing to 5.4 percent and Latin America, Eastern Europe, the Middle East and Africa again posting 9 percent. Overall global spending is projected for 2014 to be nearly double this year, hitting 6.1 percent.