Global IT Spending Expected to Top $3.7 Trillion

By Veritis / Oct 31, 2017

IT Spending by companiesResearch and advisory firm Gartner has forecast a strong growth of 4.3 percent for worldwide IT spending in 2018. This translates to an increase of $200 billion from the present $3.5 trillion to $3.7 trillion next year.

Data center systems, enterprise software, devices, IT services and communications services are the five IT segments that have been considered for the forecast.

Of these, communications services are expected to register the highest spending of $1.417 trillion at a growth rate of 2.2 percent, while the maximum growth of 9.4 percent from $354 billion to $387 billion will be seen in the enterprise software segment.

Global IT Spending Forecast

Gartner Prediction for IT

Changing IT Landscape

According to John-David Lovelock, research vice president at Gartner, “The IT buying landscape is changing. Digital business transformation is an effort to create connected, platforms and new industry revenue streams. Organizations that are not creating new digital business models or new ways to engage constituents or customers are falling behind. Those vendors that do not move more quickly than their clients, will be left behind.”

Emerging Technology Trends

Gartner has further identified 10 emerging technology trends that are likely to influence the growth in the five segments. These include three cloud technologies, infrastructure as a service (IaaS), integrated platform as a service (iPaas) and communications platform as a service (cPaaS).

Workforce analytics, workstream collaboration, video message-oriented middleware, storage and cybersecurity are some of the other technologies that will enable the digital transformation efforts in organizations.

Forrester Forecast

In its mid-year global tech market outlook for 2017 and 2018, Forrester Research has predicted a 4 percent increase in spend by both businesses and governments in 2018. Software and tech consulting services spending will accelerate to upwards of 6 percent.

Additionally, the spending on cloud platform services and cloud applications will grow at double-digit rates.

The Way Forward

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