Gartner, Inc. has revised downward its prediction for global IT spending for 2017, to a total of $3.5 trillion. While this represents a 2.7 percent increase from 2016, this growth rate is down from an earlier projection of 3 percent.

"2017 was poised to be a rebound year in IT spending. Some major trends have converged, including cloud, blockchain, digital business and artificial intelligence. Normally, this would have pushed IT spending much higher than 2.7 percent growth," said John-David Lovelock, research vice president at Gartner. "However, some of the political uncertainty in global markets has fostered a wait-and-see approach causing many enterprises to forestall IT investments."

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