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IT Spending: Weak Global Economy and Strong Dollar Push IT Spending into Negative Territory
Global IT spending is huge. In 2015 $3.5 trillion was spent. At the end of 2015 Gartner was predicting very modest increased growth in spending of .5 percent, but after the end of the first quarter in 2016, Gartner has now revised their estimate downwards to a .5 percent decline in spending, dipping to a yearly spend of $3.49 trillion.
Part of the slowdown is due to saturation of the PC, smartphone and tablet markets. It’s hard for next generation products to improve on the innovation we’ve experienced with the products that we already have. Data centers are also consolidating, driving cost efficiencies. Cost saving is also a high priority for many businesses.
John-David Lovelock, research VP for Gartner, said that “there is an undercurrent of economic uncertainty that is driving organizations to tighten their belts, and IT spending is one of the casualties. Concurrently, the need to invest in IT to support digital business is more urgent than ever. Business leaders know that they need to become digital businesses or face irrelevance in a digital world. To make that happen, leaders are engaging in tough cost optimization efforts in some areas to fund digital business in others.”
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