Global IT spending to exceed £1.8 trillion in 2008

Worldwide spending on IT is set to exceed $3.4 (£1.8) trillion this year, which is an increase of eight per cent compared to 2007, Gartner has estimated.

The analyst firm said that much of this had to do with the weakening of the US dollar – as a result, Gartner estimates that worldwide IT spending growth expressed in constant currency will be around 4.5 per cent.

"The US-led economic downturn shows no sign of causing a recession in IT spending," explained Jim Tully, vice president and distinguished analyst at Gartner.

"In subsequent years we will see reduced growth, but the fundamentals remain strong.

"Emerging regions, replacement of obsolete systems and some technology shifts are driving growth."

Gartner also said that global software spending is on pace for the strongest growth rate in 2008 at more than ten per cent, which is followed by spending on IT services where more than 9.4 per cent growth is expected this year.

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