Home / / Gartner predicts slump in global IT spend this year

Gartner predicts slump in global IT spend this year

Latest forecast sees 6% decline in spend across hardware, software, services and telecommunications sectors

Gartner predicts slump in global IT spend this year
The computer hardware segment will be the worst hit this year with spend decreasing more than 16%.

Gartner has predicted a 6% decline in the worldwide IT spend this year, which is now estimated to reach $3.2 trillion.

Interestingly, Gartner had forecast figures to go down only 3.8% earlier this year but have now revised their numbers to reflect the continuing economic situation, as well as the effect of exchange rate changes, on hardware, software, services and telecommunications sectors around the world.

"The forecast decline in spending growth for the hardware and software segments in 2009 has almost stabilized, and only minor downward revisions have been made to these forecasts this quarter," said Richard Gordon, research vice president and head of global forecasting at Gartner.

"However, the full impact of the global recession on the IT services and telecommunications sectors is still emerging, and forecast growth in these areas has been further reduced significantly,” added Gordon.

The computer hardware segment is expected to experience the steepest decline in 2009 (16.3%), followed by IT services (5.6%) and telecommunications (4.6%). In comparison, the software segment will remain quite healthy, with spending predicted to drop only 1.6%.

Follow us to get the most comprehensive IT business news delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.