John-David Lovelock stories
Global IT spending is forecasted to rise by 6.8% in 2024, reaching a $5 trillion value, driven by traditional engines of profitability and labour.
In the latest quarterly tech spending forecast released by Gartner, it is projected that IT spending worldwide will grow 2.4% in 2023.
Despite economic headwinds, IT spending in Australia and New Zealand is forecast to grow 6% next year as organisations push ahead with digital initiatives.
Gartner's latest report forecasts worldwide IT spending to reach US$4.5 trillion in 2022, an increase of 3% compared to 2021.
Global IT spending is projected to decline by 7.3% in 2020 to reach $3.5 trillion, but will recover faster than the economy, says Gartner.
Australia's IT spending is projected to decline by 6% in 2020 due to COVID-19, equating to a reduction of approximately AUD $8.8 billion, per Gartner.
Global IT spending is set to exceed $4 trillion in 2021 as businesses invest in IT amid economic and political stability, says Gartner.
Australia's IT spending is poised to hit AUD $147 billion in 2025, up 8.7% from 2024, with cybersecurity, GenAI, and cloud investments driving the increase.
In the latest quarterly tech spending forecast released by Gartner, it is projected that IT spending in Australia will grow 5.8% in 2023.
In the latest quarterly tech spending forecast released by Gartner, it is projected that IT spending in New Zealand will grow 5.5% in 2023.
Gartner has projected a total Australian IT spend of AU$117.2 billion in 2022 in its latest forecast, increasing by 13.1% from 2021.
Tech spending in Australia set to surge in 2022, with overall spending forecast to grow 6.3% to reach A$111bn, according to Gartner.
New Zealand's IT spending is set to reach NZ$14.7bn in 2022, with businesses shifting towards cloud services, says Gartner.