The technology industry is expected to grow this year, according to the San Francisco Chronicle. With the U.S. economy experiencing signs of a recovery, many businesses are regaining confidence and will look to reinvest in new equipment.
IDC recently reported hardware sales are expected to increase by 6.4 percent, or nearly twice the amount expected for software and technology services, the San Francisco Chronicle relays. The research group also said worldwide spending on technology will rise 3.8 percent to $1.5 trillion in 2010, a massive shift from 2009, when the industry suffered a 4.2 percent drop.
Businesses looking for sustainable equipment to prepare them for future growth, may invest in new energy-efficient computers, an electronic storage system or a mercury-free
compact projector.
The outlook for American companies appears to be positive, though many European businesses remain hesitant on new spending initiatives because of the euro’s 18 percent decrease against the U.S. dollar since early December, the Chronicle reports.
However, many tech companies in emerging countries such as China, India and Brazil are helping to cover for a lack of European sales, as they are expected to account for 11 percent of tech spending this year, according to the report.
The expectations for growth in the tech industry matches results from a recent survey of Wall Street IT workers and business leaders. Nearly 50 percent of respondents said they plan to invest between 20 to 30 percent of their budgets until 2012 on new IT projects, PC World relays.
