Global Technology to Bounce Back in 2010: Forrester

  As per Forrester research firm, although, the year 2009 witnessed a decline of Technology spending by 8.9%, global technology is going to rebound in the year 2010. The current year is due to witness an increase in technology spending by 8.1 % while computer hardware and software will lead in terms of spending. The expected market growth will be around $1.6 trillion.

The researcher further says that US is estimated to show strong growth in technology spending of 6.6 percent to $568 billion after a decline of 8.2 percent in 2009. The corresponding growth in European countries is expected to be 11.2% in terms of US dollars. Central and West European countries will be benefited further due to decline of US dollars against Euro.

“The technology downturn of 2008 and 2009 is unofficially over,” Forrester analyst Andrew Bartels said. “All the pieces are in place for a 2010 tech spending rebound.”

In US, the growth of technology recovery is going to be much stronger than economic recovery. The technology spending will grow twice that of GDP growth. The upcoming quarterly reports of corporates are supposed to show the trend for technology recovery. Bartel also said that the current year will observe the beginning of longer growth of technology spending involving server and storage virtualization, cloud computing and unified communications. The IT growth will continue for the next 6-7 year.