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Business News/ Industry / Infotech/  Gartner cuts global IT spending outlook by 2.1%
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Gartner cuts global IT spending outlook by 2.1%

Worldwide spending on IT is expected to touch $3.7 trillion in 2013, estimates Gartner

Gartner also cut its earlier growth forecast for spending on devices to 2.8% from its earlier estimate of 7.9%. Photo: Mint Premium
Gartner also cut its earlier growth forecast for spending on devices to 2.8% from its earlier estimate of 7.9%. Photo: Mint

Bangalore:
Gartner Inc. cut its global information technology spending estimate for the current year by 2.1% because of currency fluctuations.

Worldwide spending on IT is expected to touch $3.7 trillion in 2013, lower than the researcher’s earlier forecast of $3.8 trillion made in March, Gartner estimated. In constant currency terms, IT spending is, however, expected to grow 3.5% for 2013. In 2012, global IT spending stood at $3.6 trillion, Gartner said.

“Exchange rate movements, and a reduction in our 2013 forecast for devices, account for the bulk of the downward revision of the 2013 growth," managing vice-president Richard Gordon said.

“Regionally, 2013 constant-currency spending growth in most regions has been lowered. However, western Europe’s constant-currency growth has been inched up slightly as strategic IT initiatives in the region will continue despite a poor economic outlook."

Gartner also cut its earlier growth forecast for spending on devices to 2.8% from its earlier estimate of 7.9%.

Spending from top clients of IT services across the world has also slowed in 2013, with Accenture Plc posting earnings that disappointed investors and slashing its full-year forecast, casting a shadow on the earnings of global companies such as International Business Machines Corp. (IBM) and top Indian IT firms including Tata Consultancy Services Ltd, Infosys Ltd and Wipro Ltd.

Infosys kicks off the earnings season for Indian IT companies on 12 July.

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Published: 02 Jul 2013, 01:34 PM IST
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