Worldwide IT spending is projected to total $4.4 trillion in 2022, an increase of 4% from 2021, according to the latest forecast by Gartner.
Despite the numerous factors vying for enterprise leaders’ attention this year, from geopolitical disruption and inflation to currency fluctuations and supply chain challenges, IT spending is not slowing down. In fact, CIOs are accelerating IT investments in categories such as security, customer experience, analytics and cloud as they recognize the importance of remaining flexible and agile in responding to such factors.
- Software spending is expected to grow 9.8% to $674.9 billion in 2022 and IT services is forecast to grow 6.8% to reach $1.3 trillion.
- Russia’s invasion of Ukraine is not expected to have a direct impact on global IT spending.
- Price and wage inflation compounded with talent shortages and other delivery uncertainties are expected to be greater impingements on CIOs’ plans in 2022.
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