"While the challenges facing global economic growth persist -- the eurozone crisis, weaker U.S. recovery, a slowdown in China -- the outlook has at least stabilized," said Gartner research Vice President Richard Gordon in a statement. However, "continued caution" is advisable for the near future, according to Gordon.

Public cloud services spending will jump to $109 billion this year, compared to $91 billion last year, Gartner said.

Global IT services spending is set to grow 2.3 percent to $864 billion in 2012, according to Monday's announcement.

Spending on hardware will account for $420 billion this year, a rise of 3.4 percent.

Enterprise software spending will be $281 billion in 2012, a 4.3 percent jump.