U.S. IT research and advisory company Gartner has warned that IT spending in UK is set to suffer as a result of Brexit uncertainty, and the resulting loss of business confidence, and the falling value of the pound.
The uncertainty surrounding Brexit appears to have been contagious and a recent warning from a U.S. perspective shows that worldwide growth in IT spending in 2016 is likely to flatten out to $3.41 trillion as a result. This may sound like a pretty large number in itself but the knock-on effect of the UK’s momentous decision is a growth rate that is now only slightly inflated from an outlook of negative 0.5%.
In terms of the UK, last year’s IT spend was £123.9bn but the Brexit aftershock means that this figure could be reduced by as much as 5% in 2016’s IT spending.