Forecast Report

US Tech Market Forecast, 2022 To 2027

US Tech Spend Will See Slow Growth, At 7.4% In 2022 And 5.4% In 2023

January 13th, 2023
Michael O'Grady, Principal Forecast Analyst
Michael O'Grady Principal Forecast Analyst
Himank Joshi, null
Himank Joshi
With contributors:
Keith Johnston , Christopher Gilchrist , Michael Kearney , Ian McPherson

Summary

US tech spend growth in 2023 will be similar to Forrester’s previous forecasts, with growth of 7.4% in 2022 and 5.4% in 2023. Upcoming issues include the macroeconomic challenges of low real GDP growth, high inflation, and increased fuel prices. Software dominates tech spend, representing 34% of tech spend growth in 2022 and 42% of tech spend growth in 2027. US tech spend is forecasted as 6.7% of the US GDP in 2022 and 7.3% in 2027. In the longer term, enterprises will be more accountable for tech spend productivity gains, compete to grow their STEM workforce, and optimize domestic and international revenues and margins against currency fluctuations.

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