In its latest Industry Research Update on Technology and Business Services, GE Capital said its Telecom, Media and Technology financing business completed a combined total of 59 deals worth $5.5 billion during 2013.

GE also noted that as of 12/31/13, GE Capital Americas’ commitments of $7.7 billion across the value chain encompassed: semiconductors & capital equipment ($551 million), software & services ($4.8 billion), systems and storage ($786 million) and VARs & distribution ($1.6 billion).

Other highlights included the following:

Consumer confidence has recently rebounded as the economy continues to improve and the debt ceiling drama fades into the background. Record shipments but slowing growth in the tablet market possibly reflects signs of maturation in developed markets and a slowing in the pace of innovation. According to IDC, global tablet shipments during the 4th quarter increased nearly 28.2% year-over-year and 62.4% quarter-over-quarter. The smartphone market also remains robust and reached a milestone during 2013 of one billion units in a single year, which is more than double the volume of just two years earlier. During the 4th quarter, global smartphone shipments increased 24% year-over-year and 10% from the 3rd quarter. IDC expects global smartphone unit shipments of 1.2 billion (+19.3%) in 2014.

According to a revised forecast from IDC, unit shipments of PCs worldwide will decline annually through 2018. The new forecast calls for a 6% decline during 2014, which is more than the 3.8% decline previously forecasted but less than the 10% decline in 2013.

The Purchasing Managers’ Index (PMI), which is a measure of near-term business optimism and is highly correlated with orders for new computer equipment, strengthened in March. The March PMI of 53.7, which was up 0.5 points compared to February, was the 10th consecutive month that the index indicated expansion in the manufacturing sector. Similarly, orders for computer equipment have increased year-over-year during 7 of the past 9 months through February.

Revenue and earnings expectations for many bellwether public tech vendors remained subdued heading into the normally seasonally slow first calendar quarter reporting period. Although vendors are maintaining a cautious near-term outlook, the general consensus for continued improvements in U.S. and Global GDP growth bode well for the possibility of accelerating growth in global IT spending throughout 2014.

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