- Forrester Councils
- Councils Overview
- log in
Posted by Andrew Bartels on January 3, 2013
The 2013 New Year has begun with the removal from the global tech market outlook of one risk, that of the US economy going over the fiscal cliff. On New Year's day, the US House of Representatives followed the lead of the US Senate and passed a bill that extends existing tax rates for households with $450,000 or less in income, extends unemployment insurance benefits for 2 million Americans, and renews tax credits for child care, college tuition, and renewable energy production, as well as delaying for two months the automatic spending cuts. While it also allowed Social Security payroll taxes to rise by 2 percentage points — thereby raising the tax burden on poor and middle class people — and did not increase the federal debt ceiling or address entitlement spending, the last-minute compromise does mean that the US tech market no longer has to worry, for now, about big increases in taxes and cuts in spending pushing the US economy into recession.
Forrester's latest tech market forecast published today — "Global Tech Market Outlook 2013 To 2014: US Will Lead 5.4% Growth In 2013 And 6.7% In 2014 In Local Currencies" — had assumed a compromise of this kind would happen. We also assumed that the European economies would remain weak in 2013 before starting to recover in 2014, that Japan's economy would slip back into no-growth territory, and that China's economy and those in other emerging markets would pick up after slowing in 2012. Against that economic backdrop, we think that the global tech market will do a bit better in 2013 than it did in 2012, and that it will do even better in 2014. Note that our definition of the global tech market in this report includes business and government purchases of computer equipment, communications equipment, software, IT consulting services, and IT outsourcing and hardware maintenance services but does not include purchases of telecommunications services.
Here are the key points in our forecast:
Save Money On Your Next Software Negotiation
Work with our software negotiation experts to save 10–20% on your next contract »
Lead BT Transformation
Develop customer-obsessed strategies to drive growth »
Forrester's CX Index
Predict how actions to improve CX will affect revenue performance.
Measure the customer experiences that matter most »