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Global IT Spending to Hit $3.7tn Next Year

Global IT Spending to Hit $3.7tn Next Year

Organisations across the world are expected to collectively spend $3.7tn on IT products and services next year.

According to Gartner, total spending will be 3.3% higher in 2017 than in 2016 at $3.4tn, but the firm expects it to grow by 4.3% next year.

The fastest-growing segment of the industry regards spending on enterprise software, which is expected to increase 8.5% and 9.4% in 2017 and 2018 respectively.      

Next year’s spend on enterprise software is forecast to hit $387bn.

Communications services will see the biggest spend this year and next, hitting $1.4tn in 2018.

Research vice-president at Gartner, John-David Lovelock, said IT spending is taking a different shape from previous years as organisations embark on and accelerate digital transformation.

He said: “The IT buying landscape is changing.

“Digital business transformation is an effort to create connected platforms and new industry revenue streams.

“Organisations that are not creating new digital business models or new ways to engage constituents or customers are falling behind.”

Device sales are also expected to increase for the first time in two years, with 5.3% growth in 2017 followed by a 5% expected increase next year, when sales will be worth $697bn.

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