This Tech "Crash" Is Nothing Compared to 2000
The tech sector certainly is suffering the effects of the overall economic slowdown, but the impact is nowhere near the severity caused by the dot-com meltdown of 2000 and 2001. At least, that's what the experts are saying this time around.
At distributor Ingram Micro's Venture Tech Network gathering last week in San Diego, IDC analyst Christina Richmond told an audience of VARs and vendors,"We are not crashing like we did in 2001...the tech sector won't be immune, but the impact will be different." Some areas, such as software sales, will continue to grow albeit at a slower pace.
And a new study released by law firm DLA Piper found that two-thirds of technology executives say this downturn has not hurt their companies as badly as the one eight years ago. Only about a quarter of the respondents said they were cutting their sales and marketing costs. Certainly, there's still plenty of time for the current worldwide economic slowdown to escalate. All of this suggests that despite the pessimism, the channel still has a bright future, especially if more businesses opt to their IT needs.