US Tech Market Outlook Dims For 2012 To 2013

This report details Forrester's projections of tech market growth in the US. We have reduced our forecast for 2012 growth in the US tech market from our April projections of 7.5% for total US business and government spending on information and communication technologies and IT staff to our current forecast of 4.9%, with a similar downgrade for 2013 prospects. One reason is the domestic economic outlook, which has been less positive than we expected due to worries about Europe, US federal budget policies, and slowing growth in emerging markets. A second reason is downward revisions to the historic data on tech investment, which challenge our long-held thesis that new technologies are driving faster tech market growth. Despite our reduced forecast, we still expect business and government spending on these new technologies of cloud computing, smart computing, and mobility will grow significantly faster than our overall forecast for the tech market.