The tech sector has experienced a major sell-off since the beginning of the year, amid worries over the looming interest rate hikes. The tech-heavy Nasdaq witnessed a 9% decline year-to-date. However, the tech industry holds immense growth potential, and the heightened digital inclination across industries should help stage a rebound.
Gartner expects digital market prosperity to continue to boost technology investments this year, driving worldwide IT spending to $4.50 trillion in 2022, an increase of 5.1% from 2021. Moreover, with tech companies investing heavily in fast-advancing technologies and breakthrough solutions, the industry should remain on track for solid growth.
