IT Spending Set To Grow In 2010 Says Gartner

According to leading research firm Gartner, there may be some respite for the IT industry in the coming year as companies will look to increase their IT spending.

Citing 2009 as the worst year ever for the industry, Gartner has mentioned that worldwide IT spending fell by 5.2 per cent this fiscal year and IT spending is anticipated to be down 6.9% making it tough for the IT big wigs to get the amount of profits they usually aimed for.

If analysts are to be believed, the decline has not been as fatal because consumers and small businesses continue spending on computers, software and other supplies during the global economic crunch.

The firm also stated that year 2010 could well be a year of substantial increase in the industry coupled with great growth opportunities.

Gartner have also projected that there is likely to be a 3.3% growth in IT spending next year to a whopping $3.3 trillion; this will offer many IT companies currently reeling under the current economic downturn, a good chance to improve their financials.

However, according to Gartner global head of research Peter Sondergaard, it would not be before 2012 that market can reach the 2008 revenue levels.

Our Comments

Windows 7 is going to provide with a well needed boost to IT expenditure worldwide over the next 24 months or so as companies gradually come out of their lethargy and start spending and upgrading their hardware. 2009 was nightmarish which means that from now on, things can only be on the up.

Related Links

Gartner: IT spending growth next year

(The Register)

Gartner Eases Forecast for IT Decline

(Wall Street Journal)

Gartner: Growth coming after IT's worst-ever year

(Cnet)

Gartner Sees Slight Rebound In 2010 IT Spending, Offers Budgeting Advice

(CRN)