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Political Climate Halts IT Spending Forecast

Political Climate Halts IT Spending Forecast

According to Gartner, research political upheaval and Brexit are forcing many businesses to adopt a “wait and see” approach to IoT investments.

Research vice president at Gartner, John-David Lovelock, said: “In this period of massive uncertainty, some people are retreating and adopting a wait-and-see approach, but others see this as an opportunity to grow.”

Lovelock believes that this means Chief Information Officers (CIOs) are unable to get a clear indication of where their IT spending sits by benchmarking their budgets against the average IT spending forecast.

He believes CIOs who have decided to wait face significant price hacks in the cost of hardware due to currency devaluation.

Lovelock added: “2017 was poised to be a rebound year in IT spending. Some major trends have converged, including cloud, blockchain, digital business and artificial intelligence. Normally, this would have pushed IT spending much higher than 2.7% growth.

“However, some of the political uncertainty in global markets has spurred a wait-and-see approach, causing many enterprises to forestall IT investments.” 

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