Driven primarily by cloud and cybersecurity investments, worldwide IT spending is projected to total $5.1 trillion in 2024, an increase of 8% from 2023, according to the latest forecast from Gartner.
The software and IT services segments will see double-digit growth in 2024, largely driven by cloud spending, according to Gartner.
Global spending on public cloud services is forecast to increase 20.4% in 2024. The source of growth will be a combination of cloud vendors’ price increases and increased utilization, just as it was in 2023, wrote John-David Lovelock, a distinguished vice president analyst at Gartner.
