cxo voice
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release
No Result
View All Result
Leaders Talk and Latest Tech News | CXO VOICE
No Result
View All Result
Home News Business

Overall Global IT Spending to Decline by 8% in 2020: Gartner

News Desk by News Desk
May 14, 2020
IT spending 2020, Gartner forecast

Coronavirus pandemic impacts business severely, Organizations struggling to balance revenues and expenditure. Many organizations delaying payments or decided to cost cuts to maintain cashflow. Spending on Data center systems, enterprise software, IT services has seen a downfall. Latest Gartner forecast on spending says, worldwide IT spending is forecasted to total $3.4 trillion in 2020, a drop of 8% from last syear’s spending. 

The current crisis is causing the Chief information officer (CIOs) to prioritize spending on technology and IT services that are deemed “mission-critical” over initiatives aimed at growth or transformation.

The decline is across the segments, spending on data center systems declines by 9.7%, spending on enterprise software declines by 6.9%, spending communication services declines by 4.5%, spending on IT services declines by 7.7% and spending on devices declines by 15.5% in 2020. The below chart will help understand the declines in IT spending, segment-wise, and overall from 2019.

2019
Spending
2019
Growth (%)
2020
Spending
2020
Growth (%)
Data Center Systems211,6330.7191,122-9.7
Enterprise Software458,1338.8426,255-6.9
Devices698,086
-2.2589,879-15.5
IT Services1,031,5783.8952,461-7.7
Communications Services1,357,432-1.61,296,627-4.5
Overall IT3,756,862
1.03,456,344-8.0
Data Source: Gartner May 2020 Forecast

All segments will undergo a drop in 2020, with spending on devices and data center systems experiencing the most massive declines in spending. Yet, as coronavirus outbreak and lockdown continues to encourage work from home model, sub-segments such as public cloud services (which declines into multiple categories) will be a spot light, will grow by 19% in 2020. Spending on Cloud-based communication and conferencing solutions grow by 8.9% and 24.3% in 2020.  

John-David Lovelock, distinguished research vice president at Gartner, said, “CIOs have moved into emergency cost optimization, which means that investments will be minimized and prioritized on operations that keep the business running, which will be the top priority for most organizations through 2020. Recovery will not follow previous patterns as the forces behind this recession will create both supply-side and demand-side shocks as the public health, social and commercial restrictions begin to lessen.”

Recovery of this downfall on IT spending will be slow throughout 2020. Some industries like entertainment, air transport, and heavy industry affected very severely, and these will take at least 3 years to come back to the 2019 IT spending level. Recovery requires a change in mindset for most organizations. There is no bouncing back. There needs to be a reset focused on moving forward.

ADVERTISEMENT
  • CXOs Should Have A Clear Vision For The Post Pandemic Future
  • Five key factors every SME/ MSME needs to follow to ensure speedy business revival post COVID-19
  • [Opinion] Key solutions that will become commonplace in the post-COVID-19 business ecosystem

News Desk

News Desk

by CXO VOICE team memebrs, [email protected]

Related Posts

Lenovo AI
Technology

Lenovo Unveils Groundbreaking AI Innovations at Innovation World 2025

September 5, 2025
Brett Theiss
People

Check Point Software Welcomes Brett Theiss as New Chief Marketing Officer to Drive Global Growth

September 5, 2025
SailPoint and HCLTech
Business

SailPoint and HCLTech Unite to Transform Identity Security for AI-Driven Enterprises

September 5, 2025
IBM Campaign AI
Business

IBM Launches New Campaign to Accelerate AI in Business

September 4, 2025
Tata Power EZ Home
Business

Tata Power Launches EZ Home Automation Solutions in Siliguri

September 4, 2025
Fujitsu with 1Finity and Arrcus
Technology

Fujitsu Partners with 1Finity and Arrcus to Enhance Network Solutions for AI and Data Transfer

September 3, 2025
bob Digi Udyam
Finance

Bank of Baroda Launches ‘bob Digi Udyam’, a Quick, Collateral-Free Loans for MSEs

September 3, 2025
Athena Tech Mahindra
Business

Athena Partners with Tech Mahindra to Accelerate Industry 4.0 Adoption through AI-Powered MES Solutions

September 3, 2025
Load More
Please login to join discussion
ADVERTISEMENT

Latest Updates

Lenovo AI

Lenovo Unveils Groundbreaking AI Innovations at Innovation World 2025

by Arshi Khan
2 days ago

Brett Theiss

Check Point Software Welcomes Brett Theiss as New Chief Marketing Officer to Drive Global Growth

by Deepa Sharma
2 days ago

SailPoint and HCLTech

SailPoint and HCLTech Unite to Transform Identity Security for AI-Driven Enterprises

by News Desk
2 days ago

IBM Campaign AI

IBM Launches New Campaign to Accelerate AI in Business

by Deepa Sharma
3 days ago

Tata Power EZ Home

Tata Power Launches EZ Home Automation Solutions in Siliguri

by News Desk
3 days ago

Fujitsu with 1Finity and Arrcus

Fujitsu Partners with 1Finity and Arrcus to Enhance Network Solutions for AI and Data Transfer

by Deepa Sharma
4 days ago

Expert Views

Cyber Security

Why Even One Unpatched Device Can Be a Catastrophic Risk for Startups and SMBs

July 25, 2025
Cyber Criminals
Cyber Security

How WormGPT Became ChatGPT’s Evil Twin

July 15, 2025
Opinion

When AI Empowers Both Networks and Hackers: The New Battlefield for India’s Telecoms

May 20, 2025
Molly Sands AI
AI

AI RIP: 5 Things Knowledge Workers Will Say ‘Sayonara’ to in the Next Decade

March 8, 2025
multi cloud
Cloud

Multi-Cloud Made Simple: Strategies for Smart Business Management

March 5, 2025

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Interviews

Tokenization
Interview

Revolutionizing Finance: An Exclusive Interview with Sid Ugrankar, Co-founder of Qila.io on the Future of Blockchain and Tokenization

-
Steve Wilson, GenAI Cybersecurity LLMs
Cyber Security

How effective is GenAI in cybersecurity? The role of LLMs and AI in security solutions. [Interview with Steve Wilson]

-
Interview on Counterfeit products with Nikhil Narayan
Leaders Talk

Advancements in ML & AI made it possible to detect counterfeit products in real-time, says Nikhil Narayan

-
Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami
Leaders Talk

Newgenone bridges the gap between business users and IT teams with its low code capability: Varun Goswami

-

Entrepreneur

Samsung Electronics appoints its first female president

Inspiring Women Entrepreneurs in India (2022)

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

CXOVoice.com is a leading online publication for CXOs, entrepreneurs, senior leaders, developers, and industry professionals. Our coverage spans key sectors, including IT, technology, banking, finance, cybersecurity, engineering, and automobiles.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

co*****@******ce.com
  • Home
  • About Us
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

Copyright © 2025 CXOVoice - All Right Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/

No Result
View All Result
  • Home
  • Technology
    • AI
    • Cloud
    • Telecom
    • Data Center
    • BPM
    • Blockchain
  • Finance
    • Banking
  • Cyber Security
  • View Points
  • Leaders Talk
  • News
  • Press Release
    • Submit Press Release

Copyright © 2025 CXOVoice - All Right Reserved