In a revised study on trends in the global tech industry, technology research and advisory firm Gartner stated that the European sovereign debt crisis and a feebler euro will impact global IT spending during the existing year (2010).

In a report, Gartner research vice president Richard Gordon stated, "The European sovereign debt crisis is having an impact on the outlook for IT spending, which is projected to grow 3.9 percent in 2010 to $3.35 trillion as against $3.23 trillion in a recession-hit 2009."

The devaluation of the euro against the US currency since January this year has also pushed Gartner to bring down its viewpoint for worldwide IT spending from 5.3% it approximated during January-March quarter of 2010.

"The dollar has strengthened against the euro during the second quarter (April-June) and the trend is likely to continue in the second half of 2010, putting downward pressure on dollar-denominated IT spending growth," Gordon noted.

Though a rising US currency will diminish the total growth in software, IT services and telecommunication in 2010, the research anticipate that spending will turn optimistic in all the three sections from a de-growth during the last year (2009) when budgets for discretionary spending were frozen.

Spending in software will go up 3.1% to $229 billion this year as against -2.6% during the last year.

Likewise, IT services will expand 2.9% to $786 billion as compared to -5.3% and telecommunication 3.4% to $1.97 trillion from -3.5%.

But, the spending on computing hardware will witness healthy growth of 9.1% in 2010 to $364 billion as compared to a pessimistic growth of 12.4% during the last year.

The research also anticipated that consumer shipments will be powered by sturdy mobile PC uptake while commercial shipments will be buoyed by a replacement cycle and migration to Window 7.

While Gartner's revised anticipation reflects a stable worldwide economic viewpoint, IT spending will be vulnerable to shocks in key regions including Europe and in industrial sectors where decisions will be determined by the return on investments.

In the European context, the study calls for an effective policy response to stimulate investment in general and in IT particular, as private sector activity will be hindered by the impact of the austerity measures on key government suppliers and the ripple effect. (With Inputs from Agencies)