Global information technology spending will go up by just two per cent to $3.7 trillion this year instead of the earlier predicted 4.1 per cent rise, according to the latest report from research firm Gartner Inc.
The downgrade is a result of weak device sales and recent fluctuations in the United States dollar, the research firm said.
Worldwide growth in device revenue was earlier pegged by Gartner at 7.9 per cent. The firm, however, dropped that estimate to 2.8 following a decline in PC sales. Overall device revenue is estimated at $695 billion.
Tablet sales are expected to grow 38.9 per cent and mobile phones by 9.3 per cent.
Data centre system sales will go up 2.1 per cent to $143 billion while IT services revenue will peak at around $926 billion, according to Gartner.
Strong demand for customer relationship management software will push enterprise software revenues to $304 billion this year.
