The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: We maintain a positive outlook for the US IT market in our Q4 2016 report. We forecast strong
growth in the overall IT market value in 2016, as it is estimated to grow by 4.3% and reach a value of
USD707.374bn. As such, we believe that the US IT market will be a strong performer when compared with
other developed markets throughout the medium term, posting a CAGR of 3.9% in the 2016-2020 period.
Total spending is anticipated to exceed USD823.159bn by the end of 2020. Primary growth drivers include
strong macroeconomic fundamentals and greater interest from enterprises in the latest products and
solutions. We have a particularly bullish outlook for the domestic cloud computing, real-time enterprise
software, security and big data markets. We expect to see strong growth in these emerging technologies,
particularly in the latter years of our forecast, and for the US to be at the forefront of global adoption and
innovation. Meanwhile, the retail hardware outlook is more mixed, as we expect continued demand growth
for tablets in the retail market once it stabilises after the rapid initial diffusion of ownership; however,
desktop and notebook sales are still under negative pressure.
Latest Updates & Industry Developments
? Computer Hardware Sales: From USD226.855bn in 2016 to USD241.926bn in 2020. The overall
hardware market will remain an underperformer due to market saturation and replacement volumes
? Software Sales: From USD199.437bn in 2016 to USD238.567bn in 2020. Enterprise software-as-aservice
adoption has strong momentum, deepening the market but also exerting price pressures on
vendors, while demand for cybersecurity solutions is an area of faster growth.