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Technology: IT Spending Expected Up in 2010
Coming off of a bad year in 2009, global IT spending is now on track to reach $3.4 trillion in 2010, up 5.3 per cent on last year, according to Gartner. New hardware is the main source of the growth. Many companies will be upgrading their technology systems this year, spending more on enterprise hardware, storage and servers. “Following strong fourth quarter sales, an unseasonably robust hardware supply chain in the first quarter of 2010, combined with continued improvement in the global economy, sets up 2010 for solid IT spending growth,” said Richard Gordon, research vice-president at Gartner.
In a separate news release, Forrester Research also predicts that 2010 will be a solid year for IT spending. “A tech recovery has started in the U.S. and around the world,” said Andrew Bartels, vice president and principal analyst at Forrester Research. “I now expect the U.S. IT market to grow by 8.4%, a bit higher than my earlier forecast, because of better-than-expected performance in communications equipment.” Bartels expects to see growth in the areas of computer equipment (“PCs, peripherals and storage equipment”) and software sales (“operating system software and applications”) with most of the growth coming from “US manufacturers, financial services firms, utilities, and health care.” Forrester estimates the US IT industry to be $741 billion in 2010.
The sentiment of Gartner and Forrester jives with what business executives are saying. A survey taken of CEOs at leading US companies by Business Roundtable found that 40% of them expect higher spending in the next six months. TheInfoPro, an IT Research group, estimates that 41 percent of small and medium sized companies will increase spending on storage by 41 percent this year.
It looks like after the huge cutbacks in 2009 companies see the need to begin reinvesting in their technology infrastructure.
