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IT Spending: Social and Collaboration Software Continue Strong Growth
After a lapse last year, IT spending is expected to come roaring back in 2021. Gartner is forecasting 8.4 percent growth compared to spending in 2020, reaching $4.1 trillion globally this year.
John-David Lovelock, distinguished research vice-president at Gartner, said that “last year (2020), IT spending took the form of a ‘knee jerk’ reaction to enable a remote workforce in a matter of weeks. As hybrid work takes hold, CIOs will focus on spending that enables innovation, not just task completion.”
The Social and Collaboration software segment by itself is expected to reach $4.5 billion in 2021, a 17 percent increase over 2020. And over the next five years this segment is expected to increase annually with double-digit percentages. Social tools will increasingly be embedded into enterprise applications, like CRM, HR and ERP.
Craig Roth, research vice president at Gartner, said that “the need to suddenly empty out all the office buildings, while keeping businesses afloat, gave a jolt to many markets, with social and collaboration being one of those at the forefront. Social and collaboration products went from ‘nice to have’ to ‘must have’ within a period of a few weeks.”
