IT spending will be driven by cybesecurity and AI
Summary
Total IT spending is projected to reach $4.9 trillion in 2025, Forrester’s Global tech forecast 2024-2029 predicts, with generative AI (GenAI), cybersecurity and Cloud services to drive growth by 5.6% compared to just 4.6% in 2024. Forresters research predicts IT services and software will account for two-thirds of global technology spending this year, driven by increased investment in cybersecurity and the modernisation of legacy systems to better safeguard against an evolving cyber threat landscape. "It’s encouraging to see businesses investing more in cybersecurity, as strong defences are essential in today’s evolving threat landscape," said Andy Ward, SVP, Absolute Security. This means investing in prevention and recovery solutions, having clear incident response plans, and ensuring IT teams have real-time visibility across all devices to detect and stop threats early." "Over the next five years, technology investments will reshape industries at an unprecedented pace," said Michael OGrady, Principal Forecast Analyst, Forrester.