The technology downturn is over and that recovery is underway after the "dismal" in 2009, where companies keep spending on computers and software, according to new analysis.Forrester Research Inc. was set to report on last Tuesday(15 th january) that it expects global spending on technology products and services to grow 8.1 percent in 2010, more than $ 1.6 trillion. U.S. spending is expected to increase 6.6 percent, to $ 568 billion.
This project increases the sharp decline in 2009, when companies and governments slashed purchases of PCs, computer peripherals and communications equipment to deal with economic turmoil and credit crisis. Many large technology companies such as Microsoft Corp., remained profitable and increase their stock prices in 2009, but often they rely on layoffs and reduced costs to do it.
Even with the expected rebound, "the level of computer equipment purchased in 2010 will still be lower than in 2008 or even 2007," said Forrester analyst Andrew Bartels.
With the recession over, pent up demand for new computers and upgrade program is to benefit the companies who make them. October launch of Microsoft's latest PC operating system, Windows 7, also gives companies a reason to start replacing computers.
Still, Forrester warned that growth will start slowly and pick up later in the year.
The research firm also expects spending money on communications equipment to pick up this year, partly because demand in the coming markets are building wireless and broadband networks.
Forrester is not alone in predicting a rebound for the year. Autumn Gartner Inc. predicted 3.3 percent growth in global technology spending. Another analyst firm, IDC, said in December that global technology spending would grow 3.2 percent in 2010, again the industry to 2008 levels of about $ 1.5 trillion.
More insight into recovery in the labor market is coming Wednesday, with the release of figures on sales PC in the fourth quarter and on Thursday when Intel Corp. reports earnings for the period
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