According to Forrester report released today, IT spending this year is expected to fall short 3% globally. For the first time in seven years, the IT industry the industry is has not grown. Around $1.66 trillion is expected to drop this year. According to the vice president of Forrester Research, Andrew Bartels:
Our forecast for 2009 rests on the assumptions that the economic recession in the U.S. and other major economies will start to end in the second half of 2009.
For IT vendor strategists, the global IT market will be a gloomy one in 2009, with prospects of improvement in 2010. Unlike in past years, there are no significant growth markets to offset the weak ones.