Forrester: Recession not ‘canceled,’ will hit tech industry in late 2008
Thursday, September 25th, 2008 - by Becky Sheetz-RunkleYesterday influential industry analyst firm Forrester released their US IT Market Outlook: Q3 2008. Their decree in the report authored chiefly by Andrew Bartels is that the recession will hit the tech world in late 2008.
Forrester reporters that the slowdown has been delayed, but not canceled for the tech industry. Q2 2008 data indicates that the US economy and tech market growth has been “surprisingly strong.” The US economy climbed 3.3%, as business investment in IT equipment and software rose 11%.
But (there has to be a but), the US real domestic purchases remained fairly flat and revenues of large vendors were up by just 4%. Forrester predicts the recession will slow growth for US technology goods and services in the fourth quarter, continuing into Q1 2009.
A major impact will be felt by computer equipment vendors, with network equipment and software purchases to realize slower growth in 2009. IT services vendors, which have not yet been significantly impacted, will start to see little or no growth.
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January 23rd, 2009 at 10:34 am
[...] Tech marketing recovery in 2010, says Forrester Friday, January 23rd, 2009 – by Becky Sheetz-Runkle Forrester Research recently released their Global IT Market Outlook: 2009, reporting a dismal year for IT purchases. The report, by Andrew Bartels, projects global IT goods and services purchases will be $1.66 trillion this year. This marks a 3% decline after an 8% rise in 2008. This 3% represents growth in weighted average of local currencies. The upside is that recovery is expected in 2010 with a 9% growth in US dollars and 6% growth in local currencies. Patience is more than a virtue. The US tech market will grow 1.6% Meanwhile, the weakest growth will be in Western and Central Europe and Canada and Latin American, according to Forrester. Globally, software purchases will be the highest performing category in 2008. Last month, Forrester Research released the US IT Market Outlook: Q4 2008. In that report, they were optimistic–or at least not pessimistic–in foreseeing the near future. And for even more tech market predictions from Forrester, read Q2’s Recession not ‘canceled,’ will hit tech industry in late 2008. [...]