In one of its recent articles CIO Magazine listed the major reasons why technology industry will survive the economic recession. It looks quite comforting that despite all of the forecasts and instability, most IT industry experts are predicting that sales of software and services will be growing at a healthy clip again within the next 18 months.

IDC forecasts that the market will grow 2.6 percent in 2009 instead of the 5.9 percent predicted prior to the financial crisis. The healthiest economies will be in Central and Eastern Europe, the Middle East, Africa and Latin America.

Furthermore, Forrester predicts IT outsourcing will grow around 5 percent in 2009 and 2010 as many companies will freeze new IT initiatives for the next three to six months and turn to IT outsourcing because it provides near-term cost reductions.

Similarly, Gartner’s worst-case scenario for 2009 is that IT spending will increase 2.3 percent, according to a report released in mid-October. Overall, Gartner said global IT spending will reach $3.8 trillion in 2008, up from $3.15 trillion in 2007.