Current IT Scenerio

Worldwide spending on information technology will slow significantly in 2009 as a direct result of the global financial crisis that began in September 2008.
However, I feel that IT is in a better position than ever to resist the downward pull of a slowing economy. Technology is already deeply embedded in many mission-critical operations and remains critical to achieving further efficiency and productivity gains. As a result, worldwide IT spending will continue to grow in 2009, albeit at a slower pace.
Although the revised forecast and the downside scenario both reflect a grim outlook for global economic growth over the next several years, IT spending actually fares well when compared to the previous downturn after the events of September 11, 2001.
Companies currently don't have the asset and spending 'overhang' that enabled them to put off purchases after Y2K and the dot-com bubble. As a result, there will be greater pressure for them to continue making IT investments in order to stay competitive.