All the latest UK technology news, reviews and analysis

Europe to lead tech industry out of recession

by Phil Muncaster

More from this author

12 Jan 2010

Be the first to comment

  • Tweet this
Pound coins
Tech purchases could rise by over 11 per cent in Europe this year

The technology downturn of the past couple of years is over, and global IT spending is set to rise by over eight per cent to more than $1.6tn (£1tn) this year, according to bullish new predictions from analyst firm Forrester released today.

The firm's US and Global IT Market Outlook: Q4 2009 predicts that global tech spending will bounce back from an 8.9 per cent fall last year, and that Europe will lead the way.

The strongest growth will be in western and central Europe, where tech purchases will rise by 11.2 per cent, boosted by the US dollar's decline against the euro, said Forrester. US IT spending will grow by a more modest 6.6 per cent in 2010 to $568bn (£351bn).

Report author Andrew Bartels said in a blog post that Forrester's relatively bullish outlook for tech spending this year is down to a continued weak dollar and a "new cycle of tech innovation and growth which we call Smart Computing".

These "smart computing" technologies, which include awareness, analytics, advanced applications, service-oriented architecture, server and storage virtualisation, cloud computing and unified communications, will drive the tech market to grow twice as fast as the economy, according to Bartels.

"Few chief information officers [CIOs] want to enter 2010 with a big IT budget increase when the economic and business outlook is so uncertain," he said.

"But as the recovery proves real, CIOs will get approval from chief executives to spend above their planned 'no-increase' budget to support the better-than-expected business growth."

Do you agree?

 

Add your comment

We won't publish your address
By submitting a comment you agree to abide by our Terms & Conditions. Your comment will be moderated before publication.

Poll

IT priorities for 2012

What is the most important IT priority for your company this year?

99%

0%

1%

0%

0%

Connect with V3.co.uk

Sign up to our daily or weekly newsletters

Accurev

Top 5 software development challenges

This paper focuses on a series of best practices and techniques for development teams looking to improve their software development processes

Talend

Rubbish in, rubbish enterprise

Why good data management at all levels is essential in the modern business (video, 6mins)

PHP Web Developer - html, css, javascript

The Company: My client based in Sheffield are one...

BPSK / QPSK Modulation Consultant-Belgium

Binary Phase Shift Keying (BPSK) Modulation Consultant...

Java Developer, Online Gaming, London

Java Games Developer, Online Gaming, London Key words...

Quant Dev, Hedge Fund, FX, Excel VBA

Quant Dev, Quantitative Developer, RAD, Hedge Fund, Asset...

To send to more than one email address, simply separate each address with a comma.