Gartner: Software And IT Services Lead $5.1 Trillion Tech Market In 2024
Summary
Research firm Gartner is expecting worldwide IT spending to reach over $5.1 trillion in 2024 as businesses buy automation and efficiency technologies to drive growth at scale with fewer employees. “Digital business transformations are beginning to morph,” said John-David Lovelock, distinguished vice president analyst at Gartner. Global IT spending is projected to increase by a whopping 8.8 percent in 2024, hitting approximately $5.13 trillion next year. For example, the software market will see double-digit growth in 2023 with global spending levels reaching $911 billion, up 13.5 percent compared to 2022. Gartner said its IT spending forecast methodology relies heavily on rigorous analysis of the sales by over a thousand vendors across the entire range of IT products and services.