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Communication market expected to grow to $1.4 trillion in 2019 with larger IT spending: Gartner

The global research and advisory firm, Gartner Inc, in its recent report, has hinted that this year, the global communication market could possibly be grew by 1.3 percent to $1.417 trillion which is expected to saw further rise of 1.5 percent in 2020 to hit $1.439 trillion mark, whereas it projected a total of $3.76 trillion which IT sector will be spending in 2019 by increasing 3.2 percent from the 2018 spending.

Regardless of the fact that currently the markets have been facing challenges like trade wars, Brexit and recession rumors, but the IT sector is set on spending increasingly in 2019, said John-David Lovelock, research vice president at Gartner.

The segments like PCs, on-premises data center infrastructure and mobile phone came to a saturation level, moving away the spending to Internet of Things (IoT) devices and cloud services.

And more particularly, IoT devices have begun picking up their share from the slack of other devices that become saturated but not the IoT, Lovelock said.

The research report also mentioned that in 2019, the IoT devices segment is likely to be grow by 1.6 percent while mobile phone market is already been facing slowdown.

In largest smartphone markets like the United States, Western Europe and China, the higher level of saturation has entrenched the replacement phase for IoT devices. And all this saturation came out driving the mobile phone market to face its growth declined by 1.2 percent in 2018 when companies like Samsung remained struggling to roll out such premium smartphones to the market which could make them well different from the phones of other phone makers and Apple’s high price-to-value flagship smartphones pushed the customers to remain stick to their older and comparatively better iPhones for a longer period of time.

The report also projected the enterprise software spending to grow by 8.5 percent in 2019 with further growth of 8.2 percent in 2020 to $466 billion.

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Maria Wiggins

Written by Maria Wiggins

Maria Wiggins:- News Stories
I am Maria Wiggins and I have over 11 years experience in the Technology industry giving me a vast understanding of how news affects the financial markets. I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.

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