HOUSTON: After a tough 2009, the global technology industry will recover drastically as global spending on IT hardware and software is bound to bounce back strongly in 2010, says a study. According to the technology research firm Forrester, “downturn” of 2008 and 2009 is “unofficially over” and the worldwide spending will jump 8.1 per cent to more than $1.6 trillion, following a decline of 8.9 per cent last year.
The strongest growth is expected to be in Europe with a spending rise of 11.2 per cent. Countries in western and central Europe will receive an additional boost from the dollar’s decline against the euro.
However, if measurements are made in local currency, the U.S. is forecast to see the strongest tech growth, with an expected 6.6 per cent increase to $568 billion after a decline of 8.2 per cent last year. Forrester analyst Andrew Bartels says the tech recovery will outstrip the overall economic recovery of the U.S., with technology spending growing at over twice the rate of GDP. Forrester predicts the best-performing industry areas will be software and computer hardware. — PTI