NPD: US B2B Tech Sales Expected To Dip In 2023, Rise In 2024

According to research firm NPD Group, U.S. B2B tech sales are predicted to decline in 2023, but recover and increase in 2024. The decline is attributed to global supply chain disruptions, ongoing workforce issues, and an overall cautious approach to spending. The report suggests that the pandemic has accelerated digital transformation and will lead to increased spending in areas such as cloud services and security in the long term. Additionally, the report suggests that vendors should focus on creating customized solutions that meet the specific needs of their customers to stand out in a competitive market.