Gartner: Tech spending will rebound in 2010

Oct 19, 2009

(AP) -- Research group Gartner Inc. says the information technology industry is closing its worst year on record, with worldwide tech spending on track to decline 5.2 percent in 2009.

But the tech industry is expected to return to growth next year. Gartner is forecasting a 3.3 percent year-over-year increase in 2010, to $3.3 trillion.

But even with next year's projected increase, the market will not recover to 2008 revenue levels before 2012, according to Gartner.

Gartner is forecasting that worldwide technology spending in 2009 by large corporations - called enterprise spending - will show a drop of 6.9 percent.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Explore further: Fired Yahoo exec gets $58M for 15 months of work

add to favorites email to friend print save as pdf

Related Stories

Record 12 pct drop for PC sales in 2009: Gartner

Mar 02, 2009

Sales of personal computers are expected to decline by 11.9 percent to 257 million units in 2009, the steepest drop in the industry's history, market research firm Gartner said Monday.

Report: Worst may be over for US tech market

Jun 30, 2009

(AP) -- As bad as the technology market fared in the first quarter of this year, the worst may be over, at least in the United States, Forrester Research said in a report Tuesday.

Recommended for you

Fired Yahoo exec gets $58M for 15 months of work

2 minutes ago

Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.

IBM posts lower 1Q earnings amid hardware slump (Update)

9 hours ago

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exacerbated by weaker demand in China and emerging markets.

New US-Spanish firm says targets rich mobile ad market

16 hours ago

Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar ...

Technip, Heerema win third giant Angolan oil contract

19 hours ago

The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion.

User comments : 0

More news stories

Simplicity is key to co-operative robots

A way of making hundreds—or even thousands—of tiny robots cluster to carry out tasks without using any memory or processing power has been developed by engineers at the University of Sheffield, UK.

Microsoft CEO is driving data-culture mindset

(Phys.org) —Microsoft's future strategy: is all about leveraging data, from different sources, coming together using one cohesive Microsoft architecture. Microsoft CEO Satya Nadella on Tuesday, both in ...

Floating nuclear plants could ride out tsunamis

When an earthquake and tsunami struck the Fukushima Daiichi nuclear plant complex in 2011, neither the quake nor the inundation caused the ensuing contamination. Rather, it was the aftereffects—specifically, ...

Patent talk: Google sharpens contact lens vision

(Phys.org) —A report from Patent Bolt brings us one step closer to what Google may have in mind in developing smart contact lenses. According to the discussion Google is interested in the concept of contact ...

Quantenna promises 10-gigabit Wi-Fi by next year

(Phys.org) —Quantenna Communications has announced that it has plans for releasing a chipset that will be capable of delivering 10Gbps WiFi to/from routers, bridges and computers by sometime next year. ...