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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
IT Spending Market Growth
IT spending is the total money spent on IT systems and services by an organisation. IT spending is not only limited to IT organisations but is a significant aspect across diverse businesses, enabling the construction and maintenance of large-scale digital infrastructure and services. IT spending includes expenses related to hardware, software, professional services, cloud, and managed services.
As per the IT spending forecast, businesses are increasingly adopting methods to improve efficiency in their operations, often leveraging digital solutions. The occurrences of pandemics and closures on a global scale have reinforced the importance of robust IT infrastructure to support virtual collaborations. Robust digital infrastructure enables convenient, efficient, and secure working of organisations. Furthermore, the expansion of e-commerce, telehealth, and online education, among other sectors, has accelerated the need for virtual interactions, driving the integration of advanced IT solutions to provide improved communication services.
IT Spending Market Report Snapshots
IT Spending Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 3.88 trillion.
The market is estimated to grow at a CAGR of 3.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 5.29 trillion by 2032.
The major market drivers include the increasing trend of digitisation, the rising adoption of cloud solutions, and the use of innovative technologies to improve the performance of data-heavy environments.
The emerging trends include the growing awareness regarding the benefits of AI audit management, the rising economic development, and the increasing investments to boost the security of IT.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major types of IT spending in the market are data centre systems, enterprise software, enterprise IT services, devices, and communication services.
IT spending is the total money spent on IT systems and services by an organisation. IT spending is not only limited to IT organisations but is a significant aspect across diverse businesses, enabling the construction and maintenance of large-scale digital infrastructure and services.
Cloud Application Infrastructure Services (PaaS), Cloud Application Services (SaaS), and Cloud Business Process Services (BPaaS) contribute significantly to the market.
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124