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ON-DEMAND WEBINAR
US Tech Market Outlook For 2020 To 2021: How The Pandemic Recession Is Affecting Tech Demand In The US
Original Broadcast Date: August 4th, 2020
Andrew Bartels
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Description
The pandemic recession will clearly cause US tech spending to contract — the question is by how much and in which areas. Drawing on the latest data, this webinar provides Forrester’s forecasts for the US tech market in 2020 and 2021. Our forecast covers the major tech categories as well as the outlook for specific software, services, and hardware products.
Key takeaways:
- Scenario A of a sharp but short drop in tech spending in 2020 is no longer a realistic possibility. The most likely scenario is scenario B with a deeper and longer recession lasting into 2021. Scenario C of a tech depression lasting into 2022 has become a 20% probability.
- The pandemic recession will cause US tech spending to fall by a minimum of 6% in 2020 and 2% in 2021 or by as much as 9% in 2020 and 5% in 2021.
- Computer equipment and communications equipment will experience the biggest cutbacks, along with tech consulting and systems integration services.
- Cloud solutions will cushion the declines in software and tech outsourcing, but new demand will suffer and existing contracts will get replaced or renegotiated the longer the economic downturn lasts.
Target audience level: all levels
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