Global IT spending to reach $ 3.9 trillion in 2020

Worldwide IT spending is projected to total $3.9 trillion in 2020, an increase of 3.4 per cent from the previous calendar year, according to the latest forecast by Gartner, Inc. Global IT spending is expected to cross into USD four trillion territory next year, the research firm said.

"Although political uncertainties pushed the global economy closer to recession, it did not occur in 2019 and is still not the most likely scenario for 2020 and beyond, said John-David Lovelock, distinguished research vice president at Gartner, in a statement.

"With the waning of global uncertainties, businesses are redoubling investments in IT as they anticipate revenue growth, but their spending patterns are continually shifting," he added.

Software will be the fastest-growing major market this year, reaching double-digit growth at 10.5 per cent. "Almost all of the market segments with enterprise software are being driven by the adoption of software as a service (SaaS)," he said.


Source: yourstory.com