Research from Gartner, Inc., points to tepid growth in worldwide enterprise IT spending as the industry faces major changes fueled by the information explosion. Calling information the oil of the 21st century, Gartner senior vice president Peter Sondergaard told the 7,000 attendees at this weeks Gartner Symposium/ITxpo in Orlando that information will be the resource running our economy in ways not possible in the past, according to this report from sister site ITChannelPlanet.
Global enterprise information technology spending in 2011 will total some $2.5 trillion, or a 3 percent increase over the expected $2.4 trillion this year, with emerging markets outperforming mature sectors, according to figures compiled by researcher Gartner Inc.
By 2014, worldwide enterprise spending on IT will rise 16 percent to $2.8 trillion, hampered from more vigorous growth by periods of hesitation and uncertainty, the researcher said.
Several key vertical industries, such as manufacturing and financial services will not see IT budgets recover to pre-2008 levels before 2012 or 2013, said Peter Sondergaard, Gartner senior vice president, speaking at the researchers Symposium/ITxpo, held in Orlando, FL this week.
Emerging economies continue to be the locomotive of enterprise IT spending, substantially outpacing developed economies, he said.
Researcher outlines IT business value drivers
Gartner has identified cloud computing, social computing, and what it calls context aware computing and pattern based strategy as trends supporting both IT and economic change in the next 10 years.
Cloud computing will transform the IT industry as it will alter the financial model upon which investors look at technology providers, and it will change vertical industries, making the impact of the Internet on the music industry look like a minor bleep, Sondergaard said.
He also said that social computing will blur the boundaries between personal and professional activities.
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