There will be a return to growth in the IT industry this year, with worldwide IT spending expected to climb by 4.1 percent and jump past $2.4 trillion in 2010, says market research firm Gartner.
"2010 will see IT spending in all major industries returning to growth, although that growth will vary by individual sector," Gartner research director Kenneth Brant said in an announcement. "National and international government will show the strongest growth in 2010, as IT spending is forecast to grow 6.2 percent worldwide.”
At the same time, Gartner warned vendors that they should brace themselves in case technology spending growth slows down as part of a "double dip" recession. But for now, Gartner sees growth on the horizon, particularly in the banking and securities industry, and the retail sector, which should see a 4.6 percent increase to $397 billion and 4.7 percent increase to $149 billion, respectively.