Gartner Forecasts Worldwide IT Spending To Grow 2.4% In 2023
Gartner, January 18th, 2023
Inflation Throttles Consumer Purchasing Power, But Enterprise IT Spending Remains Strong
Worldwide IT spending is projected to total $4.5 trillion in 2023, an increase of 2.4% from 2022, according to the latest forecast by Gartner, Inc. This is down from the previous quarter's forecast of 5.1% growth. While inflation continues to erode consumer purchasing power and drive device spending down, overall enterprise IT spending is expected to remain strong.
'Consumers and enterprises are facing very different economic realities,' said John-David Lovelock, Distinguished VP Analyst at Gartner. 'While inflation is devastating consumer markets, contributing to layoffs at B2C companies, enterprises continue to increase spending on digital business initiatives despite the world economic slowdown.