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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global IT Spending Market Size
The global IT spending market reached around USD 3.88 trillion in 2023. The market is further expected to grow at a CAGR of 3.5% in the forecast period of 2024-2032 to reach USD 5.29 trillion by 2032.
| Global IT Spending Market Report Summary | Description | Value |
| Base Year | USD Trillion | 2023 |
| Historical period | USD Trillion | 2018-2023 |
| Forecast Period | USD Trillion | 2024-2032 |
| Market Size 2023 | USD Trillion | 3.9 |
| Market Size 2032 | USD Trillion | 5.3 |
| CAGR 2018-2023 | Percent | XX% |
| CAGR 2024-2032 | Percent | 3.5% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 4.5% |
| CAGR 2024-2032 - Market by Country | India | 5.2% |
| CAGR 2024-2032 - Market by Country | China | 4.6% |
| CAGR 2024-2032 - Market by Type | Enterprise IT Services | 4.1% |
| Market Share by Country | Japan | 6.4% |
IT Spending Market Outlook
- Investments in cloud infrastructure across various sectors support the IT industry growth.
- Cybersecurity concerns are contributing to increased expenditure on safety and security of IT infrastructure across organisations.
- Digitalisation in developing countries is accelerating investments in advanced IT solutions, driving market expansion.
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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