Global IT Spending to grow by 3.7% reach $3.8 trillion in 2012

Table 1
Worldwide IT Spending Forecast (Billions of U.S. Dollars)

Verticals	2011 Spending	2011 Growth (%)	2012 Spending	2012 Growth (%)
Computing Hardware	404	7.6	424	5.1
Enterprise Software	268	9.6	285	6.4
IT Services	848	6.9	874	3.1
Telecom Equipment	444	7.7	475	6.9
Telecom Services	1,701	6.1	1,740	2.3
All IT	3,664	6.9	3,798	3.7

Source: Gartner (January 2012)

Gartner has revised downward its outlook for 2012 global IT spending from its previous forecast of 4.6 percent growth.  Worldwide IT spending is forecast to total $3.8 trillion in 2012, a 3.7 percent increase from 2011, according to the latest outlook by Gartner.All four major technology sectors computing hardware, enterprise software, IT services and telecommunications equipment and services are expected to experience slower spending growth in 2012 than previously forecast.

. In 2011, worldwide IT spending totaled $3.7 trillion, up 6.9 percent from 2010 levels. Telecom equipment spending is projected to show the strongest growth, with revenue increasing 6.9 percent in 2012, followed by the enterprise software market, which will grow 6.4 percent.

The Thailand floods, that left one-third of the country under water, are having serious implications for businesses worldwide, particularly with computer and storage purchases. "Thailand  being a  major hub for hard-drive manufacturing,  have taken a toll on global IT  hard drive  sales which is expected to  be reduced by as much as 25 percent (and possibly more) during the next six to nine months. Rebuilding the destroyed manufacturing facilities will also take time and the effects of this will continue to ripple throughout 2012 and very likely into 2013."