Gartner: IT Spending Headed to $2 Trillion This Year

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Banking and financial services are leading the way for IT spending that is headed to the stratosphere, perhaps hitting more than $2 trillion in 2010, says Gartner.

The banking and financial industries, along with health care providers and large government agencies, are helping to push IT spending past the $2 trillion market this year, according to research firm Gartner.

For 2010, Garter is predicting that IT spending will total $2.4 trillion, a 4.1 percent increase from 2009, when enterprises and small businesses pulled back on their hardware and software purchases due to the U.S. recession and the overall global economy.

"2010 will see IT spending in all major industries returning to growth, although that growth will vary by individual sector," Gartner analyst Kenneth Brant wrote in a May 18 report. However, the report did not specify if businesses and governments were spending more on IT hardware, software or services.

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