Companies are in a tech spending slump
Companies have decreased their IT spending for the last couple of years, and the slump is expected to continue through 2016, according to Gartner.
Gartner notes that the slight dip this year is mostly due to currency fluctuations - most IT providers are based in the U.S., and foreign currency has weakened compared with 2014. Adjusting for that, though, spending is still relatively flat, up about 1.6% in constant currency terms.
As this chart from Statista shows, Gartner expects a recovery through 2020, with software spending growing 27% and IT services spending growing 19% over the next four years. Other parts of the market will grow more slowly.
Statista
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market