Global IT spending is likely to shrink 8% in 2020 at an estimated $3.4 trillion, said Gartner. The economic slowdown due to the lockdown has made CIOs defer spending on digital transformation to prioritise on critical tech. Spending on devices, data centre systems, IT services, and enterprise software will drop up to 15.5%, 9.7%, 7.7% and 6.9% respectively. Cloud will see a 19% increase in spending and levels for the year 2023 and 2024 will now be realised by 2022.

Click here to read the full story