IT and Business Insights for SMB Solution Providers

Growth Ahead for the IT Industry

CompTIA supplies some good economic news for channel pros, forecasting moderate growth for the industry. By Cecilia Galvin

The IT industry could use some good news on the economic front, and CompTIA supplies some of that with its IT Industry Outlook 2014 study released last month. According to the Downers Grove, Ill.-based IT association, the industry is likely to experience moderate grow this year-3.4 percent globally with an upside potential of 5.9 percent, and 3 percent for the United States with the potential to reach 5.4 percent.

That might not seem like much, but in comparison, a United Nations forecast projects economic growth at 3 percent globally and 2.5 percent in the U.S.

The quantitative online study was sent to IT executives and professionals in late December 2013 and was conducted as part of CompTIA's quarterly IT Industry Business Confidence index, which confirmed the study's findings. For Q1 2014, the confidence index shows an increase of 2.1 percentage points to 60.2 on a 100-point scale. The forward-looking part of the index, however, foresees a gain of 2.2 points, which, if realized, would be a record high in the more than five-year history of the index.

How it all turns out as the year progresses is anyone's guess, but the tea leaves that IT execs and professionals are reading are encouraging. Some of their confidence may be attributed to the optimism that's associated with the beginning of a new year, as the CompTIA report points out. Still, the report says there is "evidence that suggests solid economic fundamentals and a number of encouraging signs." Let's hope both the IT survey respondents and CompTIA are right.