According to the latest predictions by Gartner, IT spendings are set to reach $5.26 trillion in 2024. There will be a 7.5% increase in IT spendings from 2023. Even though this seems like good news, the prediction is actually lower than what it was in the last quarter. In the last quarter, it was predicted that IT spendings will increase 8% in 2024.
Gartner looked at different categories from Software and IT services to Data Center Systems and Overall IT. According to Gartner, the category which will see the most slow growth in 2024 is Communications Services (3.0%). On the other hand, Software (12.6%) and Data Center Systems (24.1%) will have the most growth in 2024. The growth in these two categories is majorly due to AI. AI is a driving force between spending to increase in these two categories. Amazon has announced its AWS investment in Germany and Spain while Microsoft and Oracle are also going to do something similar.
Moreover, most companies in many sectors are paying Amazon and OpenAI so they can use their APIs to run AI chatbots on their platforms and websites. It is like companies paying taxes rather than spending. Overall, the spendings for IT services will grow 7.1% in 2024 which was 9.7% in the last predictions.
Read next: Global Millionaire Count to Surge Despite Wealth Inequality, UBS Report Reveals
Gartner looked at different categories from Software and IT services to Data Center Systems and Overall IT. According to Gartner, the category which will see the most slow growth in 2024 is Communications Services (3.0%). On the other hand, Software (12.6%) and Data Center Systems (24.1%) will have the most growth in 2024. The growth in these two categories is majorly due to AI. AI is a driving force between spending to increase in these two categories. Amazon has announced its AWS investment in Germany and Spain while Microsoft and Oracle are also going to do something similar.
Moreover, most companies in many sectors are paying Amazon and OpenAI so they can use their APIs to run AI chatbots on their platforms and websites. It is like companies paying taxes rather than spending. Overall, the spendings for IT services will grow 7.1% in 2024 which was 9.7% in the last predictions.
Read next: Global Millionaire Count to Surge Despite Wealth Inequality, UBS Report Reveals
