Forrester predicts that the strong dollar will drop global tech markets by 3.1% in 2015 (as measured in US dollars), though most countries will see the market grow by 3% or more in their own currencies. This raises challenges and opportunities for both CIOs and tech vendors: CIO purchases will rise by 3% to 6% when measured locally; however, US tech vendors with big overseas revenues may suffer because of changing exchange rates.

The report also identified that, while the tech market has seen better days, the strongest categories include software and services, circling back to the focus on business technology (BT) — which accounts for a third of global tech purchases — and the need to win, serve, and retain customers. Further, $363 billion, which is 54% of global new project purchases, will be allocated to new BT goods and services, including the fast-growing mobile, cloud, and analytics technologies that represent the agenda.

Learn more about the research here.