Report Says Tech Market To Grow By 5.4% In 2013 and 6.7% in 2014

In the latest tech market forecast, Published January 2013, Forrester Research stated, “Against that economic backdrop, we think that the global tech market will do a bit better in 2013 than it did in 2012, and will do even better in 2014”.  This report covered the global tech market which includes, business and government purchases of computer equipment, communications equipment, software, IT consulting services, and IT outsourcing and hardware maintenance services.

The key points of this report are summarized below:

  • US tech market will lead with 7.5% growth in 2013 & Europe will grow only 0.8%. The US economy is making a turnaround- the housing sector, consumer confidence, consumer spending, and business invenstements are all on the rise.  Forrester reports the belief that the economy will grow by 2-2.5% in 2013 due to these upturns which will lead to more spending on tech. Forrester also reports that most of Europe, being so close to recession in many parts, will have a slow growing tech market.
  •  Software and computer equipment will lead in 2014. Software will be the growth story of the next two years, says Forrester Research, “with global growth of 6.5%.  Communications equipment will be the weak sector, growing by just 2.4%.  With most economies growing in 2014, computer equipment will join software as the fastest growing categories at 7.0% and 8.8%, with IT consulting and systems integration services close behind at 6.8%.”
  • Analytics, BI, and the cloud will continue to lead tech buying. Moving into 2013 and 2014, business intelligence and analytics apps, and the cloud will continue to be on the rise. The cloud, often sold as SaaS will grow SaaS subscription revenues 2-3 times faster than other software options.

Get the full report here

 

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