Forrester Research has released statistics that indicate that consumers will spend approximately 10.6 percent less on information technology products this year than last year. In January, the research firm had predicted a 3 percent drop in tech spending in the United States. They have now revised that figure to 5.1 percent less for the U.S.
The reports from Forrester Research also predict that technology spending will increase during the fourth quarter of this year for the United States. Other global areas may not see spending resume until the first quarter of 2010. In a statement released by Forrester Research, it said the following of the predictions, “”While Q1 2009 saw a scary drop in purchases in the US tech market, ironically that is good news for the long run and we expect to see a stronger rebound sooner.”
All information technology products are expected to experience a drop in sales this year, including computer equipment, software and communications products. This is not the only market forecast firm to indicate that sales will be much worse than first expected. Gartner released similar findings back in March.
Read [Information Week]
While Q1 2009 saw a scary drop in purchases in the US tech market, ironically that is good news for the long run and we expect to see a stronger rebound sooner.