HP took the top spot from IBM in global server revenue in the first quarter, as shipments from all manufacturers rose 23 percent over the previous year, according to Gartner.

The quarterly figures are a sign that businesses are starting to increase their expenditure on servers as the global economy recovers, the analyst company said. However, although the market is bouncing back, server revenue in the quarter was only around 80 percent of its peak in 2008, it noted.

Server revenue rose six percent year-on-year in the first quarter of 2010, Gartner said in a report released on Tuesday. The x86 servers were the fastest growing segment, showing rises of 25.3 percent in shipments and 32.1 percent in sales. In contrast, RISC/Itanium Unix servers and mainframes declined substantially, falling 28.5 percent in shipments and 26.9 percent in revenue.