Slow growth ahead for IT spending, Gartner says

The days of go-go, double-digit growth for tech are long gone and do not appear to be on the way back anytime soon. Even though businesses are moving to the cloud and adopting new technology to stay competitive, global IT spending will be more or less flat this year and growth will remain sluggish through 2020, according to Gartner.

The market research firm is forecasting worldwide IT spending to total $ 3.49 trillion this year, a 0.5 percent decline from 2015. That’s down from a forecast of 0.5 percent growth the company made last quarter. The change in the forecast is mainly the result of the dollar’s growing strength against other currencies.

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Computerworld Cloud Computing

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Oracle profit slides despite rapid growth in cloud

Oracle reported its fourth consecutive quarter of declining revenue on Tuesday, as rapid growth in its cloud business failed to offset the tepid demand for more traditional products.

Oracle said sales of its cloud services jumped 40 percent in the quarter ended Feb. 29, to $ 735 million, led by its platform-as-a-service and software-as-a-service offerings.

But those cloud services accounted for only 8 percent of its overall business, and when it came to the hardware and software that customers install in their own data centers, the picture was less rosy.

Sales of Oracle’s on-premises software, including its database and ERP products, fell 4 percent from last year to $ 6.3 billion, the company said. Hardware sales fell 13 percent to $ 1.1 billion.

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