July 9, 2012 – Worldwide IT spending will hit $3.6 trillion this year, inching slightly higher than previous estimates with more money coming from cloud and as-a-service investments, according to Gartner Research.

The new spending estimate is 3 percent, or half a percentage point more than projections for 2012 made during the first quarter of the year. The uptick is due to “stabilized” economic concerns over European debt, a slowdown of expansion in China and a weaker-than-anticipated U.S. recovery, according to Gartner Research VP Richard Gordon. That percentage-point growth expectation is still lower than in pre-recession years, with only single-digit annual increases for some market areas like enterprise applications.

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