Global IT Spending Set To Reach $5 Trillion In 2024 Amid Optimistic Industry Outlook
ITPro, Wednesday, January 17th, 2024
IT spending growth in 2024 is expected to be more than double that of 2023
Global IT spending is expected to reach $5 trillion in 2024 according to new research by Gartner, rebuffing fears that the sector spending was flagging.
The total constitutes an overall increase of 6.8% compared to a growth rate of almost half in 2023 (3.3%).
A breakdown of IT spending in both years shows that, for the first time ever, spending on services surpassed spending on communications by just under $30,000 making it the largest area of spending.