Global IT spending to grow by 5.1% in 2022
Worldwide IT expenditure is projected to increase by 1.5% to $4.5 trillion this year despite the impacts of Covid-19 Omicron variant, according to the latest forecast by technology research and consulting firm Gartner.
Gartner predicts that the digital market will be a bright spot for technology investments.
The IT services segment – which includes consulting and managed services – will have the second-highest spending growth this year, reaching $1.3 trillion, up 7.9% from 2021.
Gartner Research Vice President and Distinguished Analyst John-David Lovelock said that “staff skill gaps, wage inflation and the war for talent will push CIOs (Chief Information Officers) to rely more on consultancies and managed service firms to pursue their digital strategies.”
He added that organizations are expected to depend more on external consultants through 2025 as there is the “accelerated pace of change [widens] the gap between organizations’ digital business ambitions and their internal resources and capabilities.”
Lovelock stated that “this will be particularly poignant with cloud as it serves as a key element in achieving digital ambitions and supporting hybrid work.”
Moreover, the cloud market is expected to become larger than the non-cloud segment for the first time due to the pandemic. By 2025, Gartner expects it to be double the size of the non-cloud market.
