According to a recent market forecast by Forrester Research, the global tech market is expected to experience 5.4 percent growth in 2013 as a transition year before expected increased spending in 2014 will grow to 6.7 percent globally.
According to Andrew Bartels, a Forrester vice president and principal analyst: “The year will be better than it looks from the headlines. Aside from Europe, which will grow minimally in 2013 as it continues to rebound from its recession, other geographies will grow: the United States by 7.5 percent and Asia Pacific by four percent. In Latin America and Eastern Europe, the Middle East, and Africa, tech buying will increase by nine percent over the next two years.”
“Forrester contends that a lot of the economic instability affecting markets today, such as the fiscal cliff, the European recession, and the leadership transition in China, will be in the past. Firms should look at 2013 as [the] transition year before increasing spending in 2014 when spending will grow to 6.7 percent globally,” added Bartels. “[The forecast] assumed a compromise of this kind [the fiscal cliff] would happen. We also assumed that the European economies would remain weak in 2013 before starting to recover in 2014, that Japan’s economy would slip back into no-growth territory, and that China’s economy and those in other emerging markets would pick up after slowing in 2012. 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.”
(For additional information about this forecast, contact: Forrester Research, 617-613-5818, www.forrester.com.)