Pandemic's ‘Spike’ in IT Device Spending Was Only ‘Temporary,’ Reports Gartner

Global information technology spending will decline 7.3% this year to $3.5 trillion but recover “in a faster and smoother manner than the economy,” reported Gartner Monday. Devices will be the hardest hit segment because “cost containment will continue to reduce spending significantly through 2020,” it said. It’s forecasting a 16.1% decline in spending on IT devices this year. “Working from home caused a temporary spike in device buying as businesses implemented business continuity plans for COVID-19 response.” Increased device spending won’t be sustained for the rest of 2020 and “is not expected to return to 2019 levels soon,” said Gartner.