Slow 3% To 4% Growth In Global Tech Market In 2017 And 2018 Due To Cloud Transition And Political Uncertainties

Andrew Bartels

In our just-published forecast for the global market for business and government purchases of technology goods and services (The Global Tech Market Outlook For 2017-2018: 3% to 4% Growth As Forces Of Disruption Battle With Forces Of Continuity), Forrester is projecting modest growth of 3.2% in 2017 and 3.9% in 2018 measured in constant currencies.  With the US dollar strengthening against most currencies in 2017 but likely to lose ground in 2018, global tech market growth in US dollars will be 2.8% in 2017 and 4.7% in 2018.

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Global Tech Market Will Continue To Grow At 4%-5% Rates In 2016 And 2017

Andrew Bartels

Forrester has just published our global tech market report for 2016 and 2017 (see “The Global Tech Market Outlook For 2016 To 2017- The Five Themes That Will Define Tech Spending In The Next Two Years”). For the first time, our January 2016 global forecast includes telecommunication services (voice and data, wireline and wireless), which increases the overall size of the global market for tech purchases by business and government by $625 billion to a total of $2.9 trillion in 2016. However, even the addition of telecomm services cannot pull the global tech market out of the 4%-5% growth track, with growth at 4.5% in 2016 and 4.7% in 2017 when measured in exchange-rate-adjusted US dollars.

The five main themes that define the global tech market over the next two years are:

1.       Moderate overall growth remaining below 5%. The global tech market in constant currency terms will continue to grow modestly throughout 2016 and 2017 at 4.5% and 4.7%, respectively. The strong US dollar will persist in 2016, resulting in lower dollar-denominated growth rates. However, we expect the dollar to lose some steam by 2017, so we project 4.9% growth in US dollar terms.

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