The Information Technology (IT) industry is likely to witness a revival in 2010 with IT spending estimated to be to the tune of $3.3 trillion, a 3.3 per cent increase from 2009, industry research firm Gartner Inc said on Tuesday.
“While the IT industry will return to growth in 2010, the market will not recover to 2008 revenue levels before 2012,” Peter Sondergaard, senior vice -president at Gartner and global head of research, said in a statement.
Worldwide IT spending is set to decline 5.2 per cent in 2009 as companies look to control costs. “2010 is about balancing the focus on cost, risk, and growth,”he said.
“For more than 50 per cent of CIOs (chief information officers) the IT budget will be zero percent or less in growth terms. It will only slowly improve in 2011.” The computing hardware market, which is estimated to decline 16.5 percent in 2009, is likely to remain flat in 2010, Gartner said.