Research group IDC expects global technology spending to slow in 2009 as the financial crisis that has hit the world starts to bite.
It has revised its earlier forecasts and now expects worldwide IT spending to grow by 2,6% instead of the earlier-forecast 5,9%. Most of the slowdown is expected to be in the US, which is says will grow at just 0,9% instead of the earlier forecase of 4,2%.
It's not all doom and gloom though – spending on technology and new systems will continue to grow, but at a slower pace than originally anticipated.
Because IT is deeply embedded in business operations, and holds the prospect of improving operations, it remains an important part of any company's overall spending.
IDC expects that software and services will continue to grow, along with data storage although other hardware purchases will probably decline.