Gartner slices global IT spending forecast in two as inflation 'throttles' budgets

The depleted labour market is also having a hand in the difficult conditions, the analyst says

Kelsey Rees
clock • 2 min read
Gartner slices global IT spending forecast in two as inflation 'throttles' budgets

Gartner has halved its predictions for 2023 global IT spending as inflation tightens its grip on consumer purchasing power and shrink device budgets. The analyst house now expects $4.5trn to be spent this year, an increase of 2.4 per cent from 2022, but a dip from the previous quarter's forecast of 5.1 per cent growth. Some vendor and partner leaders are expecting tech spending to continue outgrowing the global economy this year, with TD Synnex CEO Rich Hume telling CRN US last month th...

To continue reading this article...

Join Channel Partner Insight

  • Exclusive news, insight and analysis for the IT channel across the US and Europe
  • Gain the latest insights through market analysis and interviews with channel leaders
  • Stay on top of key trends with an exclusive members-only podcast
  • Breaking news stories delivered straight to your inbox daily

Join now

 

Already a member?

Log in

More on Research

Data sovereignty influencing service provider decisions globally - IDC

Data sovereignty influencing service provider decisions globally - IDC

Cloud buyers across the globe are increasingly taking data sovereignty into account in IT decisions

Kelsey Rees
clock 30 January 2023 • 2 min read
Bechtle UK on its 2022 highlights, recruitment strategy and top trends

Bechtle UK on its 2022 highlights, recruitment strategy and top trends

The MD of the top VAR, James Napp shares his assessment of the last 12 months and what's next in store for the partner

CRN Staff
clock 05 December 2022 • 3 min read
Creative ITC on celebrating success in the channel

Creative ITC on celebrating success in the channel

The Group MD of the leading IT infrastructure and cloud enablement company talks 2022 highlights and what's next for the firm

CRN Staff
clock 30 November 2022 • 7 min read