The most popular and comprehensive Open Source ECM platform
Let us know more
Technology: IDC and Gartner Forecast Record Levels for IT Spending in 2017
As industries digitize their operations, IT benefits by increased spending. Two new recent reports forecast IT funding to hit record spending highs in 2017.
IDC predicts IT spending to exceed $2.1 trillion this year which will be 4.5 percent higher than spending in 2016. Spending is expected to increase by 4 percent in 2018. When telecommunication spending is included, the total spending is expected to exceed $3.5 trillion this year.
A similar report from Gartner also forecasts a total of $3.5 trillion spending on the combined IT and telecommunications market in 2017. Gartner said that the biggest growth will be seen in the enterprise software market which is forecast to be 7.6 percent.
Stephen Minton, vice president at IDC, said that “cloud and mobile are still the big drivers for IT spending, despite the attention devoted to new technologies like augmented reality, artificial intelligence, and robotics. New technologies will drive a larger share of market growth in the next 5-10 years, but the short term will also see a resurgence of growth in markets tied to 3rd platform opportunities, including cloud services, mobility and big data.”
John-David Lovelock, vice president and distinguished analyst at Gartner, said that “digital business is having a profound effect on the way business is done and how it is supported. The impact of digital business is giving rise to new categories; for example, the convergence of “software plus services plus intellectual property. These next-generation offerings are fueled by business and technology platforms that will be the driver for new categories of spending. Industry-specific disruptive technologies include the Internet of Things (IoT) in manufacturing, blockchain in financial services (and other industries), and smart machines in retail. The focus is on how technology is disrupting and enabling business.”
