Layoffs, record-high inflation, rising interest rates, and an economic slowdown roiled the tech industry in 2022. The tech-heavy Nasdaq Composite tumbled more than 28% over the past year. However, sustained demand for tech products and services is expected to drive the industry’s growth this year.
Companies and individuals are increasingly adopting new, emerging, and advanced technologies, including cloud computing, artificial intelligence (AI), virtual reality (VR), 5G, and blockchain. Furthermore, businesses continue to increase their tech investments.
