Displaying items by tag: IT spending

IT spending in 2024 is forecast to reach US$5 trillion (A$7.6 trillion) globally, the technology analyst firm Gartner says, adding that this would be an increase of 6.8% from the previous year.

Worldwide IT spending is projected to total $4.5 trillion in 2023, an increase of 2.4% from 2022 down from the previous quarter’s forecast of 5.1% growth.

IT spending to secure cloud workloads is forecast to exceed US$50 billion ($79.6 billion) over the next five years, according to market research firm Dell’Oro Group’s study, Cloud Workload Security advanced research report.

Indian IT spending is set to grow by 13.8% year-on-year in 2022, the technology analyst firm IDC says, adding that this was down from 25.3% in 2021.

Analyst firm Gartner predicts that worldwide IT spending will be US$4.4 trillion in 2022, up 4% from 2021. But Australian spending is tipped to increase by 13.1% to $117.2 billion.

Australian spending on technology products and services in 2022 will exceed A$111 billion, the technology analyst firm Gartner has forecast, with this representing an increase of 6.3% from the year that just ended.

RESEARCH: Gartner forecasts Australian spending on public cloud services to reach A$13.8 billion in 2021 and grow 23.4% to A$16.7 billion in 2022.

Spending on IT in the Asia-Pacific region, excluding Japan, is expected to grow by about 4.9% and reach US$924 million (A$1.2 billion) this year, and US$1 trillion by 2024, the technology analyst firm IDC says.

Global spending on IT in 2021 has been forecast to rise 6.2% from 2020 and reach US$3.9 trillion (A$5.03 trillion), the technology research firm Gartner says, adding that there was a decline of 3.2% in the year just past due to spending being limited to services and technology deemed to be critical.

Spending on IT in India is projected to grow to US$81.9 billion (A$112.5 billion) next year, an increase of 6% year-on-year, the technology analyst firm Gartner says, adding that in the current year spending was expected to be US$79.3 billion, a fall of 8.4% year-on-year.

IT spending across all industry sectors in Australia will grow by 3.6% to reach $95.8 billion in 2021, the technology analyst firm Gartner says, adding that this follows an expected 2.8% decline in 2020.

India will experience its first decline in IT spending in the last five years, with expenditure in 2020 to reach US$83.5 billion, a drop of 8.1% year-on-year, the technology research firm Gartner says.

Global IT spending will fall by 8% in 2020 year-on-year, the technology research firm Gartner has predicted, adding that total spending would come to US$3.4 trillion.

Global spending on IT is trending down, with the technology analyst firm IDC says it now expects a drop of 5.1% to US$2.25 trillion due to the coronavirus pandemic.

A number of indicators for IT spending backs forecasts that while 2020 may see a decrease in overall tech spending, there is scope for short-term investments by businesses as part of their response to the coronavirus pandemic.

Global market intelligence firm IDC has downgraded its forecast for IT spending in the Asia-Pacific region, excluding Japan and China (APEJC), from 5.2% growth, which it forecast in January, to 1.2% due to the impact of the coronavirus outbreak in the region.

Spending on technology products and services in Australia is forecast to total $93.7 billion this year - up 3 percent from 2018 - and to grow 4.6 percent to reach almost $98 billion in 2020, in contrast to a global slowdown in IT spending forecast by Gartner.

Technology spending in Australia is forecast to grow 2.3% to reach A$84.5 billion in 2018, as the latest forecasts for global technology spending have been revised upwards by 1.8% to 6.2% – or US$3.7 trillion for 2018.

The digital transformation of business is gathering pace, with 73% of firms worldwide now digitally enabled to some extent. But, newly published research shows that the rapidly changing ICT environment poses big challenges for chief information officers, with many revealing that they now have less control over IT spending than ever before.

Worldwide IT spending has declined over the past two years. Spending this year will total US$3.4 trillion, a 0.3% decline from 2015, but there will be a return to solid growth in 2017, according to the latest market report from Gartner.