Business

Global IT Spending Set to Surge by 10% in 2025, Reaching $5.6 Trillion

Global IT Spending on the Rise

According to a recent forecast by Gartner, worldwide IT spending is expected to reach an impressive $5.6 trillion this year, marking a 9.8% increase from the previous year.

Global IT spend to grow 10% to $5.6 trillion this year

Challenges Ahead for CIOs

John-David Lovelock of Gartner highlights a significant challenge facing CIOs: 'While budgets are increasing, a considerable portion will merely offset price increases within their recurrent spending. This scenario means that nominal spending versus real IT spending will be skewed, with price hikes absorbing some or all of budget growth.'

Impact on IT Budgets

All major categories are reflecting higher-than-expected prices, leading CIOs to defer and scale back their true budget expectations. This situation underscores the complex dynamics at play in the global IT spending landscape.