Global IT spending is forecast to hit $5.06 trillion in 2024, an increase of 8% from 2023, according to new data from Gartner. The hike puts worldwide IT spending on track to surpass $8 trillion well before the end of the decade, the research firm projects.
Spending on data center systems, in particular, is expected to see a notable jump in growth. In 2023, worldwide spending on data center systems grew 4%. In 2024, Gartner is forecasting 10% growth, in large part due to planning for generative AI, according to John-David Lovelock, distinguished vice president analyst at Gartner.
