The technology industry has been grappling with challenges on several fronts, including supply chain disruption and an industry-wide labor shortage. However, the sector has witnessed heightened demand for tech solutions amid the global digitization and automation trends. According to IDC, the industry is returning to its previous growth pattern of 5%-6% growth year-over-year. Also, IDC forecasts that the technology industry is on pace to exceed $5.30 trillion in 2022.
“We believe that we are entering a new environment where the influence of technology is rapidly broadening to impact virtually every industry,” observed Peter Oppenheimer, chief global equity strategist at Goldman Sachs. With the uptake of technology increasing across businesses, tech investment is expected to continue growing, helping the industry thrive.
