According to Gartner report, the IT services spending worldwide for the first time is projected to cross $1 trillion (Rs 73.5 trillion) in 2019, registering the slowest growth of 4.7% in 2019 compared with 5.9% in the previous year.
The report also states that overall IT spends, including spending on IT services software, computer hardware, data centre systems and communications technologies, are expected to grow slower at 3.2% in 2019 to $3,816 billion as compared to 4.5% clockin 2018.
The slow growth happens at a time when the global economy is reeling under slow growth, currency fluctuation and trade war.
Global spending for devices — PCs, tablets and mobile phones — is forecast to grow 2.4 per cent in2019, reaching $706 billion, up from $689 billion in 2018, the report said.
“While currency volatility and the potential for trade wars are still playing a part in the outlook for ITspending, it’s the shift from ownership to service that is sending ripples through every segment of the forecast,” John-David Lovelock, Research Vice President at Gartner, said in a statement on Thursday.
“What this signals, for example, is more enterprise use of Cloud services ? instead of buying their own servers, they are turning to the Cloud,” Lovelock said.