Forecast Report

Global Tech Market Outlook For 2022 To 2023

Tech Growth Significantly Outpaces Pre-Pandemic Levels

February 24th, 2022
Michael O'Grady, Principal Forecast Analyst
Michael O'Grady Principal Forecast Analyst
Himank Joshi, null
Himank Joshi
With contributors:
Keith Johnston , Frederic Giron , Michael Kearney , Kara Wilson

Summary

Software and IT services will see strong 10.5% and 6.7% growth, respectively, in 2022; North America and Asia recover fastest from the pandemic and see the fastest regional tech spend growth. Regions rebalance their technology portfolios to become more autonomous and self-reliant; almost 40% of global tech spend comes from the US. IT decision-makers move more of their software to cloud. The global tech market will see robust 6% growth in 2022 and 2023, significantly faster than pre-pandemic levels.

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