Global IT Spending Forecast: Gartner Predicts 6.8 Percent Growth
datanami, Tuesday, January 23rd, 2024
While the tech industry is grappling with layoffs, there is no lack of IT spending. The worldwide spending on IT is expected to reach $5 trillion in 2024 marking a jump of 6.8 percent from 2023, according to a new report by Gartner.
The latest report by Gartner, one of the leading market research and advisory firms, offers a unique perspective on IT spending across different segments including IT services, hardware, and software. Gartner had earlier predicted a growth rate of 8 percent for IT spending, so it has downsized its forecast. However, the expected increase in IT spending is still more than double the previous year's growth rate.
Interestingly, according to Gartner the GenAI type will not significantly change the growth of IT spending in the near term.