IT Spending Headed for Strong Growth in 2010
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Is it too early to celebrate? Analyst firm Forrester Research has issued a rosy forecast for IT spending this year, declaring the recession "unofficially over." CIO Update has the details.
Forrester Research on Tuesday revealed a positive outlook for the information technology sector this year, predicting that global IT spending will increase more than 8 percent in 2010 to $1.6 trillion mainly on the strength of improved hardware and software sales.
"The technology downturn of 2008 and 2009 is unofficially over," Andrew Bartels, a Forrester vice president and principal analyst, said in a statement. "All the pieces are in place for a 2010 tech spending rebound."
The research firm predicts an 8.2 percent improvement in computer equipment sales and a 9.7 percent jump in new software sales. Communications equipment sales are expected to increase 7.6 percent while spending on IT consulting and systems integration services will grow 6.8 percent, according to Forrester's latest estimates.
By region, Forrester expects Europe to provide the strongest growth rate outside the U.S., with tech purchases now expected to increase 11.2 percent. Canada is projected to chip in a 9.9 percent increase while Asia Pacific and Latin America will rise 7.8 percent and 7.7 percent, respectively.
However, Forrester expects the U.S. will experience the strongest growth rate among all markets.