Latest numbers from Gartner forecast local spending on technology products and services to lift 3.1% YoY to A$93.8 billion this year – jumping to $107 billion in 2022.
Gartner claims consumer spending as a percentage of total spend is dropping every year in every region, citing “saturation and commodification” – especially affecting PCs, laptops and tablets.
“There are hardly any ‘new’ buyers in the devices market, meaning that the market is now being driven by replacements and upgrades,” asserts Gartner Research VP, John-David Lovelock.
“Add in their extended lifetimes along with the introduction of smart home technologies and IoT, and consumer technology spending only continues to drop.”
The global enterprise market is tipped to notch the strongest growth in 2019 – up 9% to US$457 billion.
Global IT spending is forecast to remain flat in 2019, climbing just 0.6% year-on-year.
The figure is slightly down from the previous quarter’s forecast of a 1.1% lift.
“Despite uncertainty fuelled by recession rumours, Brexit, trade wars and tariffs, we expect IT spending to remain flat in 2019,” claims Gartner Research VP, John-David Lovelock.
“While there is great variation in growth rates at the country level, virtually all countries tracked by Gartner will see growth in 2019″
“Despite the ongoing tariff war, North America IT spending is forecast to grow 3.7% in 2019 and IT spending in China is expected to grow 2.8%.”
Further information is available in Gartner’s “IT Spending Forecast, 2Q19 Update: Market Disruptions and the Disruptors.”
