Gartner: IT Spending to Grow 8% in 2024

Sheryl_Wharff

Planning for GenAI Initiatives is Helping to Drive IT Spending in 2024 and Beyond

Worldwide IT spending is expected to total $5.06 trillion in 2024, an increase of 8% from 2023, according to the latest forecast by Gartner. This is an increase from the previous quarter’s forecast of 6.8% growth and puts worldwide IT spending on track to surpass $8 trillion well before the end of the decade.

“With spending on IT services on track to grow by 9.7% to eclipse $1.52 trillion, this category is on pace to become the largest market that Gartner tracks,” said John-David Lovelock, Distinguished VP Analyst at Gartner. “Enterprises are quickly falling behind IT service firms in terms of attracting talent with key IT skill sets. This creates a greater need for investment in consulting spend compared to internal staff. We are at an inflection year for this trend, with more money being spent on consulting than internal staff for the first time."

Read more here … https://www.outlookseries.com/A0764/Infrastructure/3866_Gartner_IT_Spending_Grow_8_2024.htm