Global spend on IT to hit 3.7 trillion dollars in 2018: Gartner

“Global IT spending growth began to turn around in 2017, with continued growth expected over the next few years. Uncertainty looms as firms consider the potential impacts of Brexit, currency fluctuations and a possible global recession,” John-David Lovelock, Research VP at Gartner, said. 

“Projects in digital business, blockchain, IoT and progression from big data to algorithms to Machine Learning (ML) to AI will continue to be main drivers of growth,” Lovelock added. 

Worldwide software spending is projected to grow 9.5 pc in 2018 and it will grow another 8.4 pc in 2019 to total $421 bn. Firms are expected to increase spending on enterprise application software in 2018, with more of the budget shifting to software as a service (SaaS).