Forrester: AI and cyber security drive up IT spending | Computer Weekly
Summary
According to the analyst’s Global tech forecast 2024-2029, spending will reach $4.9tn in 2025, with accelerated investment in artificial intelligence (AI), cyber security and cloud infrastructure. The analyst predicts that the Asia Pacific region will witness a surge in real GDP growth that far exceeds the global average, led by countries including India, the Philippines, Vietnam and Indonesia. Government initiatives in China and India, and increased investment in GenAI and semiconductors in Japan and South Korea, will help drive tech spend. “Over the next five years, technology investments will reshape industries at an unprecedented pace,” said Michael O’Grady, principal forecast analyst at Forrester. In a blog post, O’Grady said that the analyst’s forecast suggests software spending by enterprises and governments will reach 1.7% of global GDP by 2029, nearly doubling its worth since 2016.