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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