The technology recovery is well under way, courtesy of a hardware upgrade cycle featuring PCs, servers, storage systems and peripherals, according to Forrester Research.
Forrester updated its 2010 outlook and made a few modifications. It is predicting the US IT market to grow 8.4 percent, up from 8.1 percent previously. Global IT spending will be 7.7 percent, down from Forrester's previous estimate largely due to currency fluctuations.
"In the US, we continue to see the strongest sectors in 2010 as computer equipment (up 11.1 percent) and software (10.5 percent). For computer equipment, replacement of old PCs, servers and storage equipment is the main growth engine. For software, growth will result from a mixture of the revival of deferred licenced software purchases following the 2009 capital freeze, ongoing growth in SaaS (software-as-a-service) software, and continued strong growth in Smart Computing platform technologies like service oriented architecture (SOA) infrastructure, virtualisation software and analytics," Andrew Bartels, a company vice president, said in a blog.
For more on this story, see Tech spending solidifies as hardware upgrade cycle takes hold on ZDNet.com.