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Tech Economy: After a Slow First Half, Forrester Predicts a Brighter Second Half
IT spending has disappointed analysts during the first half of 2014. Because of the slow start, Forrester has downgraded the overall forecast for the year. But they give a thumbs up to the outlook. They expect the second half of this year to exceed the second half of 2013.
The overall downgrade for the year actually took quite a hit. Forrester said that instead of 6.2 percent growth that the growth this year will only be 3.3 percent. The total for the year is expected to be $2.2 trillion.
Andrew Bartels, vice president and principal analyst at Forrester, said that “CIOs may interpret the lowering of our tech market growth forecast as a signal to slow their own tech spending. That would be a mistake. In most countries, the bulk of the slowdown in growth has already occurred in the first half of 2014.”
The countries that are expected to do best the second half are members of what Forrester calls the ‘Tech Twelve’, the most advanced economies, which includes both the US and UK.
Bartels said that “with increased pressures to respond to new customer demands and expectations rippling through the advanced economies, firms will emphasise investments in customer-process technologies, especially CRM and marketing automation SaaS [software-as-a-service] apps, mobile applications, and analytics and big data for identifying ways to win, serve, and retain customers.”
