Beancounters at Gartner group have been adding up some numbers and reached the conclusion that the worldwide IT spending will increase by 4.5 percent to $3.7 trillion in 2018.
Gartner research vice president John-David Lovelock 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."
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," he said.
Enterprise software continues to exhibit strong growth, with worldwide software spending projected to grow 9.5 percent in 2018, and it will grow another 8.4 percent in 2019 to $421 billion. Organisations are expected to increase spending on enterprise application software in 2018, with more of the budget shifting to software as a service (SaaS). The growing availability of SaaS-based solutions is encouraging new adoption and spending across many subcategories, such as financial management systems (FMS), human capital management (HCM) and analytic applications.
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