In the next year, global IT spending is expected to reach a total of $3.9 trillion, led by rapid growth in the enterprise software segment, according to a new Gartner report.
Four notes:
1. The projected $3.9 trillion total would represent a 3.4 percent increase from 2019. This growth is expected to continue for the foreseeable future, with IT spending estimated to pass the $4 trillion mark in 2021.
2. While the communications services segment is forecasted to garner the lion's share of IT spending in 2020, for a total of $1.38 trillion, enterprise software will see the most growth: a 10.5 percent increase to reach $503 billion.
3. Under the umbrella of enterprise software, the significant growth rate will be led by the adoption of software as a service, known as SaaS. Additionally, spending for cloud-based software offerings is expected to outpace that of traditional, non-cloud IT offerings through 2022, according to Gartner.
4. The 2020 forecasts represent stronger growth in IT spending than in 2019. Last year, overall spending grew by just 0.5 percent, and the data center systems, devices and communications services segments saw negative growth. In 2020, all segments are expected to experience positive growth.
View the full report here.
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