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Tech Spending, Including Medical Device Development, Will Rebound

Tue, 10/20/2009 - 6:05am
The research group Gartner, Inc. says the information technology industry is closing its worst year on record, with worldwide tech spending on track to decline 5.2 percent in 2009.

But the tech industry is expected to return to a growth pattern next year. Gartner is forecasting a 3.3 percent year-over-year increase in 2010, to $3.3 trillion. But even with next year's projected increase, the firm doesn’t see this market sector fully recovering to 2008 revenue levels until 2012.

Gartner is forecasting worldwide technology spending in 2009 will show a drop of 6.9 percent. This spending significantly impacts a number of industries, including electronic, material and software enhancements used in various medical devices.

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