The global technology industry will see an 8.1% increase in spending, led by sales of software and computer hardware, according to a report from Forrester Research.
The research company predicts the market hitting $1.6 trillion this year, compared with an 8.9% decline in global spending in 2009.
The researcher sees European technology spending rising by 11.2% when measured in US dollars, as countries get a boost from the dollar’s decline against the euro.
Global spending on software is expected to rise 9.7% this year, while Forrester claims that purchases of computer equipment will rise 8.2%, while communications equipment will see a spending increase of about 7.6%.
The technology downturn of 2008 and 2009 is unofficially over
“The technology downturn of 2008 and 2009 is unofficially over,” says Forrester analyst Andrew Bartels. “All the pieces are in place for a 2010 tech spending rebound.”
Bartels claims the tech recovery is expected to be “much stronger than the overall economic recovery” in the US this year, with technology spending growing at more than twice the rate of gross domestic product (GDP).
Bartels said he sees 2010 as the start of a longer growth cycle especially for technologies involving server and storage virtualisation, cloud computing and unified communications.
“We are entering a new six to seven year cycle of IT growth and innovation that Forrester calls Smart Computing,” adds Bartels.
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