Forrester: Global IT market shrinks

It's no surprise that the global IT market is shrinking, just like the U.S. IT market. A new Forrester Research study predicts that global spending on IT products and services will drop by 3 percent in 2009, but it will recover by 9 percent in 2010, according to the survey.

The 2009 prediction is sandwiched in between a good year in 2008 and a rebound in 2010. The market registered strong earnings in 2008, according to Forrester which saw an 8 percent growth rate. The forecast could be worse, according to Forrester Research analyst Andrew Bartels. "In this environment bad news can actually be good news if its not disastrously bad news," he said.

There's good news and bad in this report. Some technology areas will do better than others. Software spending this year will remain flat over 2008, at $388 billion, while communications equipment, IT services and computer hardware expenditures will all see a drop, Forrester said.

For more on the state of the market:
- check out this Techworld.com article

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