US and Global Spending on Technology Bound to Bounce Back in 2010 - Forrester

On Tuesday, market watcher Forrester shared that for the year 2010, both American and global spending on IT related hardware and software is all set to bounce back very strongly.

The research company is calling for technology spending across US to grow by 6.6% over the year, to $568 Billion, after being pulled down to 8.2% over the year 2009. On the other hand, worldwide spending is expected to climb by 8.1% to over $1.6 Trillion, after a fall of 8.9% last year.

"The technology downturn of 2008 and 2009 is unofficially over. All the pieces are in place for a 2010 tech spending rebound. In the U. S., the tech recovery will be much stronger than the overall economic recovery, with technology spending growing at more than twice the rate of gross domestic product this year", said Forrester principal analyst Andrew Bartels.

Regionally, the research firm has said that the Continent would record the highest growth, with Western and Central Europe's spending to hike by 11.2%. Canada, Asia Pacific and Latin America are also set to posts increases of about 9.9%, 7.8%, and 7.7%, respectively.

The report put forward has also signaled at 8 potentially hot technology stocks.