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Technology Spending: Gartner Forecasts Slight Uptick in Global IT Spending for 2012
Despite doom and gloom headlines about the financial crisis in Western Europe, and slow growth in both the US and China, Gartner, after revising their global IT spending forecast for the remainder of 2012, actually increased their forecast modestly, from 2.5 percent annual growth which they predicted in the first quarter to their current estimate of 3.0 percent growth for the year after updating the forecast with the numbers from the first half of the year. Spending this year is down from the 7.7 percent increase seen in 2011, and in 2013, spending is expected to gradually improve with a 4.4 percent increase.
Gartner’s current prediction for global IT spending in 2012 now comes in at $3.6 trillion.
Richard Gordon, research vice president at Gartner, said that the “Economic outlook looks extremely uncertain right now. But having said that, a lot of the volatility has gone away and there’s a kind of eerie stability out there… While the challenges facing global economic growth persist – the eurozone crisis, weaker US recovery, a slowdown in China – the outlook has at least stabilized”
Gordon also said that “While the challenges facing global economic growth persist — the eurozone crisis, weaker U.S. recovery, a slowdown in China — the outlook has at least stabilized. There has been little change in either business confidence or consumer sentiment in the past quarter, so the short-term outlook is for continued caution in IT spending. 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.”
The telecom services market, at $1.7 trillion, makes up the biggest slice of IT spending, and with only 1.4 percent growth is considerably slower than the 2011 level of 6 percent.
