Technology companies continuously evolve and upgrade in response to changing IT needs, which of late have centered around cloud computing, artificial intelligence, machine learning, automation, virtual and augmented reality, internet of things (IoT), 5G, and more. As such, the adverse impact of impending interest rate hikes is expected to be mitigated by robust demand for state-of-the-art technological advancements.
The U.S. tech market is the largest globally, representing 33% (approximately $1.8 trillion) of the global market. IDC has forecasted that the technology industry is expected to exceed $5.3 trillion in 2022.
