Gartner cuts global IT spending projection for 2012

05 Jan 2012

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Worldwide IT spending is expected to increase to around $3.8 trillion in 2012, from the previous year's level of $3.7 trillion, technology research firm Gartner said in its latest industry outlook report.

Gartner has revised its global IT spending growth estimates downward to 3.7 per cent in 2012 from 4.6 per cent projected earlier and down from 6.9 per cent year-on-year in the previous year.

Gartner now expects worldwide IT spending to have grown 6.9 per cent to $3.7 trillion during 2011 despite sliding global economic growth and the financial crisis in the euro zone, due mainly to the devastating floods in Thailand which affected production of hard disk drives.

The year, however, witnessed tardier growth on IT spending than what was forecast earlier, says Gartner.

Gartner had earlier projected worldwide IT spending in 2011 to grow 5.6 per cent.

"Faltering global economic growth, the eurozone crisis and the impact of Thailand's floods on hard-disk drive (HDD) production have all taken their toll on the outlook for IT spending," said Richard Gordon, research vice president at Gartner.

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