By the time the IT industry recovers in 2012, it will have lost $300 billion in revenue as a result of decreased corporate IT spending during the current financial crisis, according to a new forecast published by Framingham market research firm IDC.
In a report entitled “Economic Crisis Response: Worldwide IT Spending 2008-2012,” IDC concludes that IT spending will slow to a growth rate of 2.6 percent through 2009. In the U.S., IT spending is set to decline by 0.9 percent.
Before the current economic meltdown began, IDC predicted 4.2 percent growth in IT spending through 2009.
The firm said IT spending should recover to 6 percent annual growth in 2012.
