Close
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Subscribe
Logo
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Subscribe
    Home Latest News
    • Networking

    IT Spending Could Hit $2 Trillion in 2010, Says Gartner

    Written by

    Scott Ferguson
    Published May 18, 2010
    Share
    Facebook
    Twitter
    Linkedin

      eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

      The banking and financial industries, along with health care providers and large government agencies, are helping to push IT spending past the $2 trillion mark this year, according to research firm Gartner.

      For 2010, Garter is predicting that IT spending will total $2.4 trillion, a 4.1 percent increase from 2009, when enterprises and small businesses pulled back on their hardware and software purchases due to the U.S. recession and the overall global economy.

      “2010 will see IT spending in all major industries returning to growth, although that growth will vary by individual sector,” Gartner analyst Kenneth Brant wrote in a May 18 report. However, the report did not specify if businesses and governments were spending more on IT hardware, software or services.

      The latest projection from Gartner seems to validate the results coming from other studies that find the U.S. tech industry is poised for growth after a nearly two-year downturn. Research firms have found that consumer spending on electronics has increased in just the past few months, which has boosted the outlook for the semiconductor and PC vendors.

      The quarterly reports that have flooded in during the past few weeks have also shown that businesses and consumers have begun buying hardware and software again. Intel, Apple, Microsoft and IBM-all tech bellwethers-reported solid results.

      For a look at 10 hot tech jobs, please click here.

      On the same day Gartner posted its latest report, Hewlett-Packard reported that its second-quarter profits increased 28 percent thanks to healthy PC sales.

      However, while the Gartner report recommends that IT vendors and service providers take advantage of the projected 4 percent growth in spending this year, there is the possibility the global economy could falter again, with the U.S. economy experiencing a “double-dip” recession.

      “However, we recommend that they continue to promote the value of solutions that deliver -cost optimization’ in 2010 and 2011, which we believe will be a persistent value for IT buyers even as markets return to growth,” Brant wrote.

      Of all the different vertical industries Gartner is tracking, government agencies seemed poised to spend the most on IT in 2010. This year, spending by U.S. and internal government is set to increase 6.2 percent, from $234.2 billion in 2009 to $248.7 billion in 2010.

      Separately, Gartner sees local and regional government agencies increasing their spending by 4.3 percent.

      The banking and financial industries are looking to increase their IT spending by about 4.6 percent this year for a projected total of $396.9 billion. Health care providers are spending a more modest $88.6 billion in 2010, a 2.9 percent increase from last year.

      Other markets that are looking to increase their IT spending in 2010 include utilities, education institutes, retail, manufacturing and the communications industry.

      Scott Ferguson
      Scott Ferguson

      Get the Free Newsletter!

      Subscribe to Daily Tech Insider for top news, trends & analysis

      Get the Free Newsletter!

      Subscribe to Daily Tech Insider for top news, trends & analysis

      MOST POPULAR ARTICLES

      Artificial Intelligence

      9 Best AI 3D Generators You Need...

      Sam Rinko - June 25, 2024 0
      AI 3D Generators are powerful tools for many different industries. Discover the best AI 3D Generators, and learn which is best for your specific use case.
      Read more
      Cloud

      RingCentral Expands Its Collaboration Platform

      Zeus Kerravala - November 22, 2023 0
      RingCentral adds AI-enabled contact center and hybrid event products to its suite of collaboration services.
      Read more
      Artificial Intelligence

      8 Best AI Data Analytics Software &...

      Aminu Abdullahi - January 18, 2024 0
      Learn the top AI data analytics software to use. Compare AI data analytics solutions & features to make the best choice for your business.
      Read more
      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Video

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2024 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.