February 3, 2010 – According to a new forecast from IDC, worldwide IT spending will increase by just 3 percent in 2010 to reach $1.48 trillion, still below the $1.5 trillion recorded in 2008. In the U.S., IT spending is forecast to increase even less. In U.S. dollars, worldwide IT spending declined by 8 percent in 2009 due to the stronger value of the dollar compared to 2008.
"Businesses in many regions remain reluctant to increase their spending on major new projects," says Stephen Minton, vice president of worldwide IT markets and strategies at IDC. "The good news is that pent-up demand is real and will drive a more solid recovery in 2011, assuming there is no double-dip recession." Minton says emerging markets like China and India will be the real engine for the industry in the next 12 months, ensuring that the IT market returns to positive growth this year.
The gradual economic recovery will enable many U.S. organizations to relieve demand for system and network upgrades following last year's cuts, but spending will be cautious.
IDC's Worldwide Black Book provides new and updated forecasts for IT spending in 54 countries around the world.
Read another study on IT spending trends here.
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