Worldwide IT spending is expected to recover by 2020, with expected growth of 3,7%, mainly due to corporate software spending. As for 2019, worldwide IT spending is projected to total $ 3,7 trillion an increase of 0,4% over 2018, according to the latest forecast from Gartner consulting.
"The slowdown in IT spending on 2019 is not expected to extend into 2020, despite concerns about the recession and companies cutting spending in this sector," said John-David Lovelock, vice president of research at Gartner.
Today's complex geopolitical environment has brought regulatory compliance to the top of the organizations' priority list. Security overhead has increased 10,5% by 2019, with cloud security projected to grow 41,2% over the next five years.
The device market will see the largest decline in spending across all segments in 2019, down 5,3% from $ 713 billion in 2018. However, the market is expected to have modest 1,2% growth in 2020.
World IT Spend Forecast Table (Billion US Dollars)
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Gartner predicts that organizations with a high percentage of cloud-dedicated IT spend will become the recognized digital leaders in the future. "Most companies are caught trying to cut costs or invest in growth, but the top performers are doing both. One of the industry's key challenges is how organizations can operate like a traditional business. e a technology company at the same time ”Lovelock said.