A study done by Gartner recently shared their IT spending forecast for this year. The firm has docked 3.2 percent from its initial growth predictions and said spending will only rise 2.1 percent to US$3.7 trillion in 2014.
According to Richard Gordon, Managing Vice-president at Gartner, the lower estimate is nothing to worry about. He added that the improving global economic situation and buyers getting better deals are the reasons why spending is low.
It is anticipated that spending in data center system will be the slowest in IT segments and is pegged to rise at 0.4 percent or $140 billion. The reasons cited for this are the lower storage offerings of cloud technology and buyers opting out of expensive server systems.
Spending on tech products, on the other hand, is expected to post a growth rate of 1.2 percent at $695 billion fuelled by less expensive mobile gadgets.