Business spending on Information Technology continues to grow at a pace faster than might be expected in a time of retrenchment and cutbacks. Fueled by an accelerating move to cloud computing, and by a boom in associated telecommunications services, the market for IT and associated services continues to out-perform the overall economy, according to industry analysts at Gartner.
$3.6 trillion will be spent worldwide on information technology in 2012, a 3 percent increase from 2011, when $3.5 trillion was spent, up from the 2.5 percent increase projected three months ago.
The increase is notable because it is happening in the face of a financial crisis in Europe, slow growth in the United States, and a slowdown in China.
Neil Ritchie, MD at INCo, a firm that undertakes sales development for clients, said, “Markets are holding up well in the UK, despite talk of cuts and lack of investment.
INCo works with many leading Global IT and Consulting firms, finding sales opportunities that are geared to client skills and expertise.”
Over 200 business and technology analysts worldwide contributed to the report. These analysts saw a 2.3 percent increase, to $864 billion, in fees for technology services. The consultants said that the market outlook for consulting was strong, as companies try to manage things like their own complex systems, cloud computing, and the rise of analytics.
More on the Gartner Report at www.gartner.com/it/page.jsp?id=2074815