IT spending 'unaffected by credit crunch'

Worldwide IT spending is set to exceed $3.4 trillion (£1.8 trillion) this year, it has been claimed.

Studies carried out by industry analyst Gartner indicates total growth for 2008 will be around 4.5 per cent, while software expenditure will see a growth rate of over ten per cent.

Jim Tully, vice president and distinguished analyst at the company, said the global economic downturn shows no sign of causing a recession in IT spending.

"In subsequent years we will see reduced growth, but the fundamentals remain strong. Emerging regions, replacement of obsolete systems and some technology shifts are driving growth," he added.

Mr Tully went on to say developments in cloud computing will impact the industry by resulting in dramatic growth in IT products in some areas and in significant reductions in others.

Last week, IT industry analyst IDC claimed worldwide PC microprocessor shipments reached record levels in the second quarter of this year.

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Print the page		Date of issue: 15.09.2008