Worldwide spending on IT will slow significantly in 2009 as a direct result of the global financial crisis, says analyst IDC.
According to a newly revised forecast from IDC, worldwide IT spending will grow 2.6% year-over-year in 2009, down from IDC's pre-crisis forecast of 5.9% growth.
In the US, IT spending growth is expected to be just 0.9% in 2009, much lower than the 4.2% growth forecast in August.
"The good news is that IT is in a better position than ever to resist the downward pull of a slowing economy," said John Gantz, chief research officer at IDC.
"Technology is already deeply embedded in many mission-critical operations and remains critical to achieving further efficiency and productivity gains. As a result, IDC expects worldwide IT spending will continue to grow in 2009, albeit at a slower pace."
On a regional basis, spending growth in Japan, Western Europe, and the United States will hover around 1% in 2009, said IDC.
In contrast, the emerging economies of Central and Eastern Europe, the Middle East and Africa, and Latin America will continue to experience healthy growth, but at levels notably lower than the double-digit gains previously forecast.
On a sector basis, software and services will enjoy solid growth, whilst hardware spending, with the exception of storage, is expected to decline in 2009.
Analyst Gartner also recently published its revised downward forecast for global IT spending.