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Industry Stats
US Tech Spend: Business Technology (BT) Investments Will Rise 10% In 2016
Forrester recently released its US technology spend outlook, which includes data on tech spend and lays out how businesses should position their firmsí tech spending plans (see image below). Key findings show that:

  • While overall US tech market growth in 2016 will be subdued at 4.3% because of weak demand for hardware and licensed software, spending on business technology will increase by more than 10%, exceeding half of all new project spending.
  • Cloud adoption will hit a tipping point this year, as firms' use of software-as-a-service (SaaS) as a replacement for existing software will hit critical mass.
  • Next year will be a better year for the US tech market, and Forrester forecasts 5.1% growth overall and 8.9% growth for BT spending.
  • Nearly 80% of CEOs Globally Expect To Increase Hiring Over Next 3 Years
    According to the 2015 KPMG CEO Outlook Study of CEOs, 69% of CEOs in Europe, 66% in Asia Pacific and 52% in the US are more confident than they were last year about growth and the global economy in the next three years. In assessing their own companyís growth prospects, 70% of European CEOs and 68% of Asia Pacific CEOs indicated they are more confident than a year ago. In the US, where the recovery is well underway, 19% are more confident than a year ago with another 46% expressing the same level of confidence about their prospects for growth. Most importantly, CEOs globally are set to hire, with 78% of respondents indicating they are expecting to be in hiring mode through mid-2018.

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