In Forrester’s semi-annual global tech market outlook for 2015 and 2016, we are projecting growth of 4.1% in 2015 and 6.3% in 2016 business and government purchases of computer and communications equipment, software, and tech consulting and outsourcing services measured in US dollars. These growth rates are distinct improvements over the 2.3% growth in 2014. The strong dollar is a key negative factor in these forecasts; measured in local currency terms, the growth track for the global tech market is higher with a gentler upward slope, from 3.3% in 2014 to 5.3% in 2015 and 5.9% in 2016.
Our outlook can be defined with five main themes:
- Moderate 5% to 6% rates in 2015 and 2016 in local currency terms.
- The US tech market will set the pace for the rest of the world in 2015 and 2016.
- New project spending will rise, but MOOSE spending still dominates.
- A focus on revenues will drive business technology investment.
- Software and services rule; hardware and outsourcing stew