Report: Spending On Global IT Grows 0.6% This Year

According to a report from Gartner Inc on July 10, IT spending is estimated to reach 3.74 trillion dollars globally this year, increasing by 0.6% over that of 2018. However, that is slightly down from the forecast for the previous quarter with 1.1% growth.

Gartner's Research Vice President John-David Lovelock stated:

Gartner also pointed out that:

According to the report, the software market for enterprises will have the highest growth this year. It is expected to reach 457 billion dollars, which means a 9% increase from 419 billion dollars of last year. Meanwhile, the CIOs are doing their best to re-adjust their tech portfolios, as well as moving investments to off-premises capabilities to on-premises ones. In the next couples of years, Cloud must become more and more important. And therefore, it will have a great influence on IT decisions of enterprises, in special system infrastructure.

Lovelock further said:

In fact, on a global scale, consumer spending that is referred to as the percentage of the total spend is decreasing every year. This is mainly because of commoditization and saturation of products like tablets, laptops, and PCs.

Cloud applications will help the above devices to have a longer usage life. In addition, they don't need to come with too powerful equipment to use new software. And hence, the devices market is believed to face the most significant decline this year, down 4.3 % to 682 billion dollars.