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Global IT spending to reach $3.7 Trillion in 2018

According to Gartner, the Worldwide IT spending projected to a total of $3.7 trillion by the end of 2018. An increase of 4.5 percent compared to 2017.

According to John-David Lovelock, research vice president at Gartner, IT spending ill continue to grow strongly, but that there are a number of events that could affect IT spending both regionally and globally.

He said, “Global IT spending growth began to turn around in 2017, with continued growth expected over the next few years. However, uncertainty looms as organizations consider the potential impacts of Brexit, currency fluctuations, and a possible global recession,”

Continuing, “Despite this uncertainty, businesses will continue to invest in IT as they anticipate revenue growth, but their spending patterns will shift. Projects in digital business, blockchain, Internet of Things (IoT), and progression from big data to algorithms to machine learning to artificial intelligence (AI) will continue to be main drivers of growth.”

Lovelock added that emerging technologies, such as AI and the internet of things, will drive spending in the coming years.

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