Bank on bad times, say analysts

Bank on bad times, say analysts

Gartner slashes forecast for IT spending for the second time in three months.

Gartner has slashed its forecasts for spending on information and communications technology for the second time in three months. Adding to the gloom surrounding in the information technology sector, Gartner predicted IT spending in Australia and the Asia Pacific region would decline from US$520.5 in 2008 to US$509 billion in 2009, a fall of 2.2 per cent.

In a harsh warning for the industry, Gartner Australia Asia-Pacific research head Ian Bertram said he did not anticipate the brunt of the slowdown to hit the local technology sector until 2010.

Much of the decline is in the once lucrative hardware sector that has endured years of falling prices coupled with consolidation among vendors spurred by such technologies as virtualisation.

Gartner anticipates hardware spending will fall as much as 14.9 per cent as consumers and businesses put the brakes on upgrades and purchases despite lower product prices.

Read more at MIS Australia

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Tags economic crisis

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