The technology industry has been under pressure due to the multi-decade high inflation, aggressive rate hikes by the Fed, and massive layoffs. The tech-heavy Nasdaq Composite has lost 14.6% over the past year.
However, the industry’s long-term prospects look bright amid advancements and robust demand. The global information technology market is forecasted to grow from $8.18 trillion in 2022 to $12 trillion in 2027 at a CAGR of 7.9%.
