Published: 08 May 2024
Worldwide enterprise IT spending across industry markets will increase by 8.6% in 2024 to $3.8 trillion in constant U.S. dollars, with a five-year CAGR of 9.0% through 2028. Among industry verticals, the growth rate will be highest for power and utilities, followed by healthcare and life sciences.
By 2027, 60% of higher education institutions will adopt a hybrid operating model that blends physical and virtual capabilities to deliver their institutional missions.
By 2029, insurers will direct more than 20% of their enterprise IT spending toward IaaS and other public cloud services as they innovate around their customer and agent experiences, up from 5% in 2023.
By 2026, more than 80% of banks will have adopted GenAI, up from the current level of 5%.
The higher and primary-secondary education subverticals are poised for growth in the short and long term, driven by a complex interplay of demographic
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Analysts:
Inna Agamirzian, Rika Narisawa, Marc Halpern, Gregor Petri, Nicole Foust, Alexander Hoeppe, Simon Cushing, Jeff Casey, James Ingham, Sandeep Unni, Rajesh Narayan, Sohard Aggarwal, Daniel Snyder, Shivani Palepu, Debbie Buckland, Roger Benn, Jonathan Rivera, Peter Kjeldsen, Marlena Brown
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