Powered up by increased investment in Cloud Computing, organisations worldwide will spend US$3.6 trillion on information technology in 2012, up 3% year on year and higher than the 2.5% growth expected as recently as three months ago.  "While the challenges facing global economic growth persist - the eurozone crisis, weaker US recovery, a slowdown in China - the outlook has at least stabilised," commented Gartner Research Vice-President Richard Gordon.

In contrast to what it call the "rather lacklustre" growth outlook for overall IT spending, Gartner expects enterprise spending on public Cloud services to grow 20% from US$91 billion worldwide in 2011 to US$109 billion in 2012, topping US$207 billion by 2016.

Source: Business Cloud