Worldwide IT Spending To Reach $3.9 Trillion In 2020

Gartner's projection predicts worldwide IT spending to be $3.9 trillion in 2020, which is a raise of 3.4% from last year.

Gartner, a leading research and advisory company and a member of the S&P 500, recently, forcasted global IT spending to reach $3.9 Trillion in 2020.
 
According to Gartner's projection worldwide IT spending will be $3.9 trillion in 2020, which is an increase of 3.4% from last year. And the spending is presumed to cross into $4 trillion territory next year.
 
Software is expected to be the fastest-growing major market this year, with growth at 10.5% .
 
Lovelock, research VPt at Gartner said "Almost all of the market segments with enterprise software are being driven by the adoption of software as a service (SaaS), ... We even expect spending on forms of software that are not cloud to continue to grow, albeit at a slower rate. SaaS is gaining more of the new spending, although licensed-based software will still be purchased and its use expanded through 2023."
 
  2019 2019 2020 2020 2021 2021
Spending Growth (%) Spending Growth (%) Spending Growth (%)
Data Center Systems 205 -2.7 208 1.9 212 1.5
Enterprise Software 456 8.5 503 10.5 556 10.5
Devices 682 -4.3 688 0.8 685 -0.3
IT Services 1,030 3.6 1,081 5 1,140 5.5
Communications Services 1,364 -1.1 1,384 1.5 1,413 2.1
Overall IT 3,737 0.5 3,865 3.4 4,007 3.7
Source: Gartner
 
According to Gartner, last quarter showed the sharpest drop within the device market among all segments. However, it is expected to return to overall growth in 2020 because of the adoption of new, less-expensive phone options from emerging countries.