19 February 2018
Visit www.avoka.com

After worst year ever, IT spending to rebound in 2010 - Gartner

20 October 2009  |  9829 views  |  0 cash

Global spending on information technology is in for its worst ever year but things are looking up, with growth expected to return in 2010, according to research firm Gartner.

Tech spending in 2009 will be down 5.2% on the previous year but Gartner is predicting a 3.3% bounce in 2010 to $3.3 trillion. However, the market is not expected to recover to 2008 levels before 2012.

Peter Sondergaard, global head of research, Gartner, says: "2010 is about balancing the focus on cost, risk, and growth. For more than 50 per cent of CIOs the IT budget will be 0 per cent or less in growth terms. It will only slowly improve in 2011."

This year, worldwide corporate IT spending is being hit particularly hard, down 6.9% year-on-year. The computer hardware market is also suffering, down 16.5% in 2009, to $317 billion. IT services spending is expected to total $781 billion in 2009 before recording growth of 4.5% in 2010. Similarly, software spending is expected to decline 2.1% this year before growing 4.8% in 2010.

Sondergaard says concepts such as cloud services will accelerate a shift from capital expenditure to operational spending in IT budgets in 2010. In addition, business intelligence, virtualisation and social media will all continue to be important areas for tech spending next year.

Finally, Sondergaard identifies three big themes that will emerge over the next year:

  • Context-aware computing - tapping information about the user, such as location, presence and social attributes, to tailor their IT services.
  • Operational technologies - devices, sensors, and software used to control or monitor physical assets and processes in real-time to maintain system integrity.
  • Pattern-based strategies - building a framework to proactively seek, model, and adapt to indicators that form patterns in the marketplace, and to exploit them for competitive advantage.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Risk and regulation driving IT spending priorities at transaction banks

Risk and regulation driving IT spending priorities at transaction banks

14 September 2009  |  10475 views  |  0 comments
Banks need to personalise online services - Gartner

Banks need to personalise online services - Gartner

23 July 2009  |  12116 views  |  1 comments
Credit crisis spurs real-time risk management IT spending - survey

Credit crisis spurs real-time risk management IT spending - survey

14 July 2009  |  8917 views  |  0 comments
FX trading technology spending on the rise - survey

FX trading technology spending on the rise - survey

09 June 2009  |  13471 views  |  0 comments
Capital markets IT spending to hold steady in 2009 - survey

Capital markets IT spending to hold steady in 2009 - survey

21 April 2009  |  8588 views  |  0 comments
US financial services IT spending declines for first time in history

US financial services IT spending declines for first time in history

28 January 2009  |  9558 views  |  0 comments
North American bank IT spending to grow in 2009 - Celent

North American bank IT spending to grow in 2009 - Celent

14 January 2009  |  13246 views  |  0 comments
Bank IT spending to decline in 2009 - Financial Insights

Bank IT spending to decline in 2009 - Financial Insights

01 December 2008  |  12032 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comVisit http://info.nice.comVisit www.vasco.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11284 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8845 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8738 views 10 comments | 22 tweets | 26 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8711 views comments | 15 tweets | 43 linkedin

Featured job

Basic c.£90K OTE c.£180K plus full benefits pac...
London based

Find your next job