US businesses and consumers expressed increasing positivity toward technology spending during the fourth quarter of 2024, the strongest positive quarterly result since the first quarter of 2022, and the continuation of an overall upward trajectory that stretches back to early 2023. That positivity appears set to continue and even accelerate into the new year, according to 451 Research's US Tech Demand Indicator, a survey-backed composite of intent to spend on technology.
The Q4 2024 Tech Demand Indicator score was 53.3, representing an overall positive sentiment (a score greater than 50) and an increase over the Q3 score of 52.0. Despite a dip during Q2 to 51.6, Tech Demand Indicator scores remained in the positive range for the full 2024 calendar year, the first full year of positive quarterly results since 2021. However, the full-year average for 2024 (52.3) was lower than that of 2021 (54.4) and 2022 (52.42). Examination of detailed spending intent among US businesses suggests a further shift in technology spending intention toward AI investment becoming a greater catalyst for technology spending overall.
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