Gartner bullish on tech market recovery in 2010

Gartner expects IT spending to reach $3.4tn this year

More evidence emerged today that 2010 will see the global tech market climb out of recession, as new figures from Gartner predicted worldwide IT spending to grow 4.6 per cent this year.

The analyst firm said that spending in all areas of IT - hardware, software, IT services, telecoms and telecoms services - will grow this year to reach a combined total of $3.4tn (£2.1tn). This is a far cry from 2009, when the market declined by 4.6 per cent to $3.2tn (£1.98tn).

"Last quarter, we did not expect to see IT spending levels recover to 2008 levels until 2011. However, with the upward revision to the current dollar forecast, we are projecting that global IT spending this year will approach the level seen in 2008," said Richard Gordon, research vice president at Gartner.

"Our updated forecast for IT spending to reach $3.4tn in 2010 is actually a year earlier than we expected to level our previous forecast update, reflecting a bounce back in underlying IT spending from the sharp drop in 2009."

However, Gordon warned that much of the increase in the revised forecast is due to the fall in value of the US dollar compared with last year.

The analyst added that, while recovery will be slow at first, a rise in GDP, improving consumer confidence and increased availability of credit, combined with the release of "pent-up demand for new technologies", will drive the industry.