Published: 08 April 2024
Continued geopolitical disruptions, central bank measures to curb inflation and changes in the uses of IT impact vertical industries in different ways. Technology and service providers can use this research to learn how these conditions create disparity in IT spending growth across industries.
Many vertical industries globally continue to be affected by a range of different economic disturbances that together increase the likelihood of global economies entering a short, shallow technical recession that economists are predicting.
Overall IT budgets are relatively immune from economic disruptions. High levels of locked-in and recurrent spending leave little room for flexibility.
The purposes of technology investments evolve, increasing spending in some areas and reducing growth rates in others, but these changes do not materially impact total IT spending.
Gartner forecasts that global enterprise IT spending will increase 8.6% in 2024 over 2023, exceeding $3.8 trillion in
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Analysts:
Inna Agamirzian, James Ingham, Chad Eschinger, Deborah Neitz Daily, Debbie Buckland, Jeff Casey, Peter Kjeldsen, Marlena Brown, Daniel Snyder, Jonathan Rivera, Rajesh Narayan, Sohard Aggarwal, Marc Halpern, Alexander Hoeppe, Simon Cushing, Nicole Foust, Sandeep Unni
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