Forrester claims end of global tech recession

News Article - 21 January 2010
Category: Business

Independent technology and market research company Forrester has called 2010 a year of recovery for IT companies worldwide. The firm recently labelled the tech industry recession as 'unofficially over,' and has advised companies that IT-related investment is set to increase in the following months as boardrooms regain confidence.

Whilst the global industry as a whole will benefit from spending increases, some areas will fare better on a regional basis. The United States will benefit considerably, with tech spending expected to grow at more than twice the rate of gross domestic product (GDP). Europe will perform the strongest, where IT-related investment will rise by 11.2%, helped by the decline of the dollar's value against the euro. The global industry is expected to grow by 8.1% to more than $1.6tn.

The news will be welcomed by technology companies worldwide who may have struggled to cope with the economic downturn and the reduced spending power available to consumers. In 2009, global IT spending fell 8.9%, and the year was particularly gloomy for organisations as the lack of stronger markets meant the industry was unable to offset underperforming ones.

Now that a revival is expected, IT businesses around the globe should be looking to develop their growth strategies early to ensure they make the most of the improved industry outlook. As global tech spending increases, organisations will face significant competition to regain market share as rival firms pursue aggressive strategies to capitalise on favourable conditions.

Businesses looking to prepare early should re-evaluate their current infrastructure and see where benefits can be gained. Software solutions can streamline business processes and offer a host of strategic benefits to organisations of all sizes who wish to consolidate software systems and forge stronger links between business divisions.

Access has just released its Financial Director's Bible, designed to help companies choose the software package that is most suited to business goals. The information will be invaluable to companies looking to develop their systems and infrastructure, showing when and where changes will be most effective. The booklet also helps organisations identify signs that suggest software changes are needed, and offers checklists and case studies to ensure financial directors are fully aware of the strategic implications of upgrading their systems.

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