; The Wallet
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The Wallet

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According to Stamford, CT-based Gartner Inc's fall 2009 report, Gartner Perspective: IT Spending 2010, 2008 and 2009 witnessed the most severe economic recession in generations, and the information technology (IT) industry suffered an even greater decline than it did during 2001 following the burst of the dot-com bubble. IT budget cuts may have slowed market growth in the short term, but enterprises must preserve short-term spending on critical business operations and long-term technology investments even in the toughest business environments, Gartner says. Gartner expects worldwide software spending in 2009 to be on pace to total $221 billion -- a 2.1% decline from 2008 spending of $225 billion. According to Gartner, worldwide IT services spending is on pace to total $781 billion in 2009 -- a 3.5% decline from 2008. The outlook for IT spending by industry vertical markets remains on par with overall IT spending, according to Gartner.

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