How banking, manufacturing and telecoms will spend their ICT budgets in 2018

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Global ICT spending will hit almost $4 trillion (£2.8tn) in 2018 according to IDC – and while the consumer market will have the largest share, major investments will take place in the manufacturing, banking, and professional services spaces.

The consumer market will account for $1.5tn in ICT spending in 2018, IDC added, but on the industrial side, banking, discrete manufacturing, telecommunications and professional services will be the four largest industries for spending. Banking will be the largest industry, accounting for 6.7% share, ahead of discrete manufacturing (6.6%), telecommunications (5.2%) and professional services (4.8%).

While all four industries investing heavily in applications, infrastructure, outsourcing and telecom services, different sectors will have their own priorities. In banking, for instance, there will be more investment in IT outsourcing and project-oriented outsourcing, while telecoms will focus more in infrastructure purchases.

“Spending for telecom services is largely dominated by consumers, but some industries have emerged as rapid adopters of fixed and mobile data services over the past few years,” said Stephen Minton, IDC research vice president, customer insights and analysis. “In Asia, special projects and initiatives have helped to boost fixed broadband adoption in the education sector.

“In the US, the healthcare industry is a major source of fixed-line telecom spending, while transportation firms in Canada and Japan have invested aggressively in mobile broadband solutions,” added Minton. “Meanwhile, consumers in many emerging markets continue to leapfrog fixed broadband and go straight to mobile data services, which is changing the entire landscape for how to connect with end-users in these countries.” in hearing industry leaders discuss subjects like this and sharing their use-cases? Attend the co-located IoT Tech Expo, Blockchain Expo, AI & Big Data Expo and Cyber Security & Cloud Expo World Series with upcoming events in Silicon Valley, London and Amsterdam and explore the future of enterprise technology.

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