by Richard Gordon | January 25, 2013 | Comments Off on Happy New Year … But No Boost in IT Spending on the Horizon
It seems we’ve been talking about the impact of a sluggish economy on IT spending since forever, but the fact remains that uncertainties surrounding the prospects for an upturn in global economic growth remain the major retardants of IT spending growth. This uncertainty has engendered the pessimistic business and consumer sentiment in evidence throughout much of the world.
For the year just ended, we have lowered our expectations for dollar-valued IT spending growth from 1.7% to 1.2%, which reflects a significant reduction in the devices forecast driven by a sharper-than-expected slowdown in the PC market.
Looking ahead to this year, much of the uncertainty surrounding the US and European economies has dissipated (at least for now) and we expect a modest acceleration in IT spending growth in 2013. Indeed, we have revised 2013 growth projections upward from 3.8% last quarter to 4.2% this quarter. However, much of this increase results from projected gains in the value of foreign currencies versus the dollar.
Beyond 2013, with the prospect of a dramatic improvement in the global economy unlikely, our forecast for spending growth remains largely unchanged at a compound annual rate of 3.9% from 2013 through 2106.
For more details on the oultlook for IT spending: http://www.gartner.com/technology/research/it-spending-forecast/
Read Complimentary Relevant Research
Predicts 2017: Artificial Intelligence
Artificial intelligence is changing the way in which organizations innovate and communicate their processes, products and services. Practical...
View Relevant Webinars
The Mobile Scenario: Taking Mobility to the Next Level
The definition of "mobile" in the post-app era will involve new interactions such as bots and conversations, new devices such as wearables...
Comments or opinions expressed on this blog are those of the individual contributors only, and do not necessarily represent the views of Gartner, Inc. or its management. Readers may copy and redistribute blog postings on other blogs, or otherwise for private, non-commercial or journalistic purposes, with attribution to Gartner. This content may not be used for any other purposes in any other formats or media. The content on this blog is provided on an "as-is" basis. Gartner shall not be liable for any damages whatsoever arising out of the content or use of this blog.