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Despite current economic concerns, worldwide IT spending will exceed $3.4 trillion in 2008, an increase of 8 percent from 2007 spending, according to Gartner, Inc. As per analysts much of this growth is based on the decline in the U.S. dollar. The estimated worldwide IT spending growth expressed in constant currency is forecast to be approximately 4.5 percent.
“The U.S.-led economic downturn shows no sign of causing a recession in IT spending,” said Jim Tully, vice president and distinguished analyst at Gartner.“Emerging regions, replacement of obsolete systems and some technology shifts are driving growth.”
Gartner analysts said there are important strategic issues facing the IT industry.
“Organisations are switching from company-owned hardware and software assets to per-use service-based models. This will impact the industry in various ways,” Mr. Tully said. “The projected shift to cloud computing, for example, will result in dramatic growth in IT products in some areas and in significant reductions in other areas. In general, assets will be utilized with greater efficiency, and we are assuming that the overall effect on market growth will be neutral. We also recognize that there is considerable upside potential for higher growth.”
Worldwide software spending is on pace for the strongest growth rate in 2008 at more than 10 percent . IT services spending ranks a close second with more than 9.4 percent growth. Analysts said the IT services sector benefits from the continued innovation in software technology. New software solutions often require labor-based services to implement them.
“Most companies updated their software systems during the period 1997 through 2001, so we are in the middle of an upgrade cycle that should extend past the end of this decade,” said Joanne Correia, managing vice president at Gartner. “However, the replacement of systems does not automatically equate to new software market growth.
Software as a Service (SaaS)/cloud computing, service oriented architecture (SOA)/Web 2.0, and open source software are causing huge changes to the software market. Many of these factors are impacting market growth as enterprises replace assets with per-use services.”
The main area of hardware growth activity is PCs, which represents 60 percent of total hardware spending. Growth in PCs is stronger than previously expected, with no signs of a slowdown. The U.S. forecast has increased marginally while forecasts elsewhere, particularly Asia/Pacific and Western Europe, have increased significantly. “The market growth outside of the U.S. and the effects of the weak dollar are major factors in growth in U.S. dollar terms. In addition to regional shifts, a strong shift to mobile PCs is occurring. The higher prices of these products result in increasing revenue per unit and a boost to the overall market,” Mr. Tully said.
Vinod Negi/ITvoir Network
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