Global IT spending remains on course to grow 7.1 per cent this year, say Gartner analysts in their latest quarterly spending forecast, with cloud computing spend growing fastest of all.
Gartner's number crunchers have revised the overall forecast up two percentage points from their Q1 forecast in US dollar terms, saying the impact on spending from the 11 March Sendai earthquake was not as bad as feared.
"We expect a positive growth trend to emerge in the second half of the year and continue into 2012," said Gartner research vice president Richard Gordon.
Gartner now reckons that across the board, ICT spending will hit $3,427bn this year, with telecoms accounting for the lion's share of spending at $2,140bn, up 6.9 per cent. The strongest growth, however, is now predicted to be in the computing hardware sector, which will grow 11.7 per cent to a total value of $419bn.
Enterprise software sales, meanwhile, look set to grow 9.5 per cent to $268bn, while IT services spend will rise 6.6 per cent to $846bn, said Gartner.
Of the cumulative total, Gartner now forecasts that spending on public cloud services would grow four time sfaster than overall spending, hitting a total value of $89bn this year, up from $74bn in 2010. By 2014, said Gartner, it should hit $177bn per annum.
"The emergence and adoption of cloud is a significant trend and in some markets already a significant factor," said Gordon.
"For example, at about $10bn, software-as-a-service already accounts for 10 per cent of enterprise application software spending, and by 2015 this share is expected to increase to close to 15 per cent and exceed $20bn in annual spending," he added.