01 Apr 2009

Technology companies 'will ride out the downturn'

Businesses in the technology industry will ride out the current global economic crisis, according to a sector specialist.

Continued growth in the sector is indicative of its strength, claims Charles Ward, chief operating officer at the UK technology association Intellect.

He is not surprised about the results of a recent survey by the Tech Sector Barometer, which reveals one in five firms expect demand to increase in the following six months.

"It's my belief that we're still in the phase that I call the shock phase, where [customers] are thinking 'we are not certain of our own outlook'," Mr Ward explains.

Many organisations are adopting a cautious approach by delaying product roll-out and budgeting accordingly, he adds.

Increased usage in areas such as the internet and connected devices means the field does not stand still, which Mr Ward views as a comfort.