Market analysts from Gartner have revised their enterprise IT spending projections for 2015. They now predict organizations will spend $3.8 trillion in 2015, a 2.4 percent increase from 2014; that's down from their earlier prediction of 3.9 percent growth.
The company revised its forecast due to falling prices, particularly for software support and cloud computing services. "The increase in activity has been masked by price reductions in many markets—storage is cheaper, servers are cheaper, mobile phone services are cheaper," said John-David Lovelock, research vice president at Gartner.
Despite the price reductions, the firm expects higher increases in spending on enterprise software. It predicts the category will see $335 billion in revenue, a 5.5 percent increase from 2014.