The technology industry continues to make positive strides toward recovery. Oliver Wyman's recently released 2010 Communications, Media, and Technology State of the Industry Report found that technology firms came out well ahead of communications and media companies in 2009, bringing in over $1.1 trillion in market value—about 72 percent of what they had lost in 2008.
The tech sector, for the purposes of Oliver Wyman's research is made up of computer services, communications hardware, consumer electronics, hardware, semiconductors and software sub-sectors. Of those, the computer services market achieved the highest growth in 2009 (127 percent), and it's exceptionally noteworthy that over half of that market growth was driven by only two companies: IBM and Tata Computer Services, both of which saw nice revenue jumps in the past year.
The tech sector will likely see more positive growth in the year ahead, as recent acquisitions (Oracle/Sun, Dell/Perot Systems, Xerox/ACS, HP/EDS) start to pay off.
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