Asia Pacific IT spending is forecasted to reach US$674.3 billion this year, according to Gartner's global IT spending forecast.
Gartner also expects enterprise spending on public cloud services to grow to US$109 billion in 2012 and reach US$207 billion by 2016.
The global IT spending has been forecasted to reach US$3.6 trillion in 2012.
The rise of analytics and big data has made consulting increasingly technology-based and the demand for consulting services is expected to remain high this year.
"While the challenges facing global economic growth persist - the eurozone crisis, weaker U.S. recovery, a slowdown in China - the outlook has at least stabilised," said Richard Gordon, research vice president at Gartner. "There has been little change in either business confidence or consumer sentiment in the past quarter, so the short-term outlook is for continued caution in IT spending."
Bright spots for providers
Worldwide IT services spending is forecast to reach US$864 billion in 2012 representing a 2.3 percent increase from 2011.
Gartner has identified the global telecom services market to be the largest IT spending market and expects telecom services growth to especially come from net connections in emerging markets.
Growth will also come from the mature markets due to the uptake of multiple connected devices and other consumer electronics devices.
"Business process as a service (BPaaS) still accounts for the vast majority of cloud spending by enterprises, but other areas such as platform as a service (PaaS), software as a service (SaaS) and infrastructure as a service (IaaS) are growing faster," added Gordon.
Sign up for CIO Asia eNewsletters.