Worldwide IT spend is poised to grow 7.1% in 2011, reaching $3.67trn (£2.29trn), according to Gartner's quarterly outlook. This is an upward revision of the 5.6% growth projected by the analyst firm in the first quarter of this year.
Spending on public cloud services is set to grow nearly four times faster than overall IT spend in the next five years. Gartner predicts an annual growth rate of nearly 20% for public cloud services, increasing from $70bn in 2010 to $180bn in 2015. However, the 2010 figure represents only some 2% of total IT spend, rising to just 4% by 2015.
Richard Gordon, research vice-president at Gartner, said the increase in spending was surprising given the impact of the Japanese tsunami on the world technology supply chain.
"For 2011 as a whole, we expect Japan IT spending to be down in local currency, but we expect a positive growth trend to emerge in the second half of the year and continue into 2012," he said.
The computing and hardware sector is set for the strongest growth, with spending forecast to increase by 11.7%, reaching $268bn in 2011. Enterprise software will be the next largest area of growth, forecast to rise 9.5% to $268bn, while IT services will comprise the largest area of IT spending at $846bn, a 6.6% increase from 2010.
Worldwide IT spending forecast (billions of US$)
|2010 Spending||2010 Growth (%)||2011 Spending||2011 Growth (%)|
|Source: Gartner (June 2011)|