Report: Global IT spending forecast to rise 3.4% year on year to almost £3tn in 2020

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Gartner has forecast in its latest report that worldwide IT spending is forecast to reach £2.95 trillion ($3.9tn), an increase of 3.4% year over year in 2020. Global IT spending is expected to hit almost £4 trillion in 2021.

One of the fastest growing markets in 2020 will be the software market – that is expected to grow 10.5%. The report also predicted that growth in enterprise IT spending for cloud-based offerings will be faster as compared to growth in traditional (non-cloud) IT offerings through 2022.

John-David Lovelock, a research vice president and distinguished analyst in the Gartner for general managers team, 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. With the waning of global uncertainties, businesses are redoubling investments in IT as they anticipate revenue growth, but their spending patterns are continually shifting.”

Data from Synergy Research Group released last month showed that hyperscale operators accounted for 33% of all spending on data centre hardware and software in the first three quarters of 2019. In the third quarter of 2019, total data centre infrastructure equipment revenues that includes cloud and non-cloud, hardware and software, were at £29.1 billion.

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