Fresh survey data from ETR shows a clear deceleration in spending and a more cautious posture from technology buyers. Just this week we saw sell side downgrades in hardware companies like Dell and HP; and revised guidance from high flier UiPath, citing exposure to Russia, Europe and certain sales execution challenges. But these headlines we think are a canary in the coal mine pointing to broader tech spending softness. According to ETR analysis and channel checks in theCUBE community, the real story is these issues are not isolated. Rather we’re seeing signs of caution from buyers across the board in enterprise tech.
In this Breaking Analysis we are the bearers of bad news, relatively speaking. We’ll share a first look at new data that suggest a tightening in tech spending, calling for 6% growth this year, which is below our January prediction of 8% for 2022.