Pandemic's ‘Spike’ in IT Device Spending Was Only ‘Temporary,’ Reports Gartner
Global information technology spending will decline 7.3% this year to $3.5 trillion but recover “in a faster and smoother manner than the economy,” reported Gartner Monday. Devices will be the hardest hit segment because “cost containment will continue to reduce…
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spending significantly through 2020,” it said. It’s forecasting a 16.1% decline in spending on IT devices this year. “Working from home caused a temporary spike in device buying as businesses implemented business continuity plans for COVID-19 response.” Increased device spending won’t be sustained for the rest of 2020 and “is not expected to return to 2019 levels soon,” said Gartner.