Worldwide Spending on IT and Tech will reach GBP 1.7 trillion in 2008 reckons Industry Analysts Gartner.
That's an eight percent increase on 2007 figures although the fact that the falling US Dollar did a lot to propel the apparent growth and when figures were adjusted, this shrunk to a mere 4.5 percent with so called emerging markets in Asia and elsewhere driving the growth.
Even then, Jim Tully, A Gartner VP, says that bad economic times in the US may not have a profound effect on the amount of money spent worldwide this year.
“In subsequent years we will see reduced growth, but the fundamentals remain strong. Emerging regions, replacement of obsolete systems and some technology shifts are driving growth.” he added.
Software is expected to enjoy a 10 percent growth to reach GBP 204 billion thanks to an upgrade cycle that should bring us well into the next decade; but Gartner warned that much of that investment could go to fuel the meteoric growth of Cloud computing, Web 2.0 and Open Source software.
Growth in IT services should reach 9.4 percent this year with Outsourcing being one of the beneficiary of the growth as companies try to cut expenses and concentrate on their core competencies.
Hardware-wise, the PC market is still very active as firms shift from desktop bound computers to laptop and other portable devices and datacentres and servers get upgraded.