Malaysian IT spending to reach RM64b this year

KUALA LUMPUR: In Malaysia, spending on technology products and services is forecast to grow 5.8% to reach RM64.4 billion in 2018.
Meanwhile, worldwide IT spending is projected to total US$3.7 trillion (RM14.3 trillion) in 2018, an increase of 6.2% from 2017, according to the latest forecast by Gartner, Inc.
Gartner research vice-president John-David Lovelock said although global IT spending is forecast to grow 6.2% this year, the declining US dollar has caused currency tailwinds, which are the main reason for this strong growth.
“This is the highest annual growth rate that Gartner has forecast since 2007 and would be a sign of a new cycle of IT growth. However, spending on IT around the world is growing at expected levels and is in line with expected global economic growth.
“Through 2018 and 2019, the US dollar is expected to trend stronger while enduring tremendous volatility due to the uncertain political environment, the North American Free Trade Agreement renegotiation and the potential for trade wars,” he said in a statement.
Gartner’s IT spending forecast methodology relies heavily on rigorous analysis of sales by thousands of vendors across the entire range of IT products and services. Gartner uses primary research techniques, complemented by secondary research sources, to build a comprehensive database of market size data on which to base its forecast.