Gartner: IT Spending To Climb 8% To $5.1 Trillion In 2024
Network World, Friday, October 20,2023
Cloud spending and cybersecurity investments will be the biggest drivers of enterprise IT spending growth in the coming year.
Driven primarily by cloud and cybersecurity investments, worldwide IT spending is projected to total $5.1 trillion in 2024, an increase of 8% from 2023, according to the latest forecast from Gartner.
The software and IT services segments will see double-digit growth in 2024, largely driven by cloud spending, according to Gartner.
Global spending on public cloud services is forecast to increase 20.4% in 2024. The source of growth will be a combination of cloud vendors' price increases and increased utilization, just as it was in 2023, wrote John-David Lovelock, a distinguished vice president analyst at Gartner.