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IT Budgets: Political Uncertainty Causes 2017 IT Spending Estimates to be Trimmed
Global IT spending is expected to reach $3.46 trillion in 2017, a 2.7 percent increase over 2016, according to a report by Gartner. But that estimate is a downward revision over previous 2017 estimates, and it follows up from two previous down years. In 2015, spending declined by 5.5 percent, and in 2016, IT spending declined .6 percent. The IT market includes hardware, software, IT services and telecom.
Global political uncertainty is causing businesses to hesitate before increasing IT investment. Events like Brexit and the US electoral results were both commonly cited.
The biggest increases in spending forecast for 2017 are in Enterprise Software (6.8 percent), IT Services (4.2 percent), and data centers (2.6 percent).
John-David Lovelock, research vice president at Gartner, said that “2017 was poised to be a rebound year in IT spending. Some major trends have converged, including cloud, blockchain, digital business and artificial intelligence. Normally, this would have pushed IT spending much higher than 2.7% growth. However, some of the political uncertainty in global markets has fostered a wait-and-see approach causing many enterprises to forestall IT investments.”
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[…] slashed their forecast for IT spending in 2017 for the second time in 3 months. In October 2016, Gartner estimated IT growth in 2017 would be 2.9 percent. In January, citing […]