News that the IT sector is still attracting record levels of investment has been greeted with joy by many of the big players in the industry. A report by Gartner has confirmed that IT investment grew by 8% in 2007 to reach £1.7 trillion although some of this growth may have been due to the continued weakness of the dollar. In ‘constant currency' terms the growth is a more modest 4.5% and many are unsure how figures for 2008 will pan out with some firms holding back IT investment in the wake of the economic downturn.
It was very interesting to see major IT development coming through from some of the developing nations such as China and India, where economic growth is expected to continue in 2008. However, on the other side of the coin there was a slowdown in IT spending in some of the more mature markets as large and small firms alike look to preserve their cash balances in the short to medium term.
IT spending really is an investment for the future and while many firms recognise this fact they are not upgrading their systems as frequently as in the past, due in the main to price increases for new services, hardware and software. |
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