IT Services will be largest recipient of CIO spending in 2024
Global IT spending is expected to total $5 trillion in 2024, an increase of 6.8% from 2023, down from the previous quarter’s forecast of 8% growth – and while generative AI (GenAI) had significant hype in 2023, it will not significantly change the growth of IT spending in the near-term. That’s according to new analysis […]
Global IT spending set to hit $4.7 trillion in 2023, driven by automation
Global IT spending is projected to grow by 4.3% this year to reach $4.7 trillion, with CIOs continuing to lose the competition for IT talent, leading to a shift in spending towards technologies that enable automation and efficiency to drive growth with fewer employees. “Digital business transformations are beginning to morph,” said John-David Lovelock, Distinguished […]
Banking and investment sector IT spending to hit $652bn this year
Worldwide banking and investment services IT spending is forecast to total $652.1 billion in 2023, an increase of 8.1% from 2022, with software experiencing the largest growth with an increase of 13.5%. “Current economic headwinds have changed the context for technology investments in banking and investment services this year,” said Debbie Buckland, Director Analyst at […]
Government CIO spending on IT predicted to grow 8% in 2023
Worldwide government IT spending is forecast to total $589.8 billion in 2023, an increase of 7.6% from 2022, with inflation and skills shortages among the top considerations fort CIOs. That’s according to research from Gartner, which says that this year they will also ensure their digital projects endure mission impact. An increasing number of government […]
IT spending to hit $4.6 trillion in 2023
Worldwide IT spending is projected to total $4.6 trillion in 2023, an increase of 5.5% from 2022 – despite continued global economic turbulence, all regions worldwide are projected to have positive IT spending growth. “Macroeconomic headwinds are not slowing digital transformation,” said John-David Lovelock, Distinguished VP Analyst at Gartner. “IT spending will remain strong, even […]
