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Global IT spending over the next year is expected to be in the range of $3.6 trillion, a three percent increase over the previous year’s $3.5 trillion. That’s the forecast from Gartner Research. Gartner thinks that spending will remain relatively flat over the near future. Despite economic problems in Europe, a weak US recover and China’s slowing economy, businesses are still spending money on IT, but with a good amount of caution.
The breakdown for where all the IT money was spent in 2011 is as follows:
- $1.63 trillion on Telecom Services, a 6 percent increase over 2010
- $845 billion on IT Services, a 7.7 percent increase over 2010
- $404 billion on Computer Hardware, a 7.4 percent increase over 2010
- $340 billion on Telecom Equipment, a 17.5 percent increase over 2010
- $269 billion on Enterprise Software, a 9.8 percent increase over 2010
One notable exception to expected slow pace of IT spending over the next few years is Cloud Computing.
In 2011 Cloud Services came in at $91 billion and that’s expected to grow to $109 billion in 2012. Cloud services are now expected to reach $207 billion by 2016, roughly double the current spending size.
Richard Gordon, research vice president at Gartner, said that “Business process as a service (BPaaS) still accounts for the vast majority of cloud spending by enterprises, but other areas such as Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS) and Infrastructure-as-a-Service (IaaS) are growing faster.”