cxo voice
  • Home
  • News
  • Leaders Talk
  • Expert Opinion
No Result
View All Result
  • Home
  • News
  • Leaders Talk
  • Expert Opinion
No Result
View All Result
Leaders Talk and Latest Tech News | CXO VOICE
No Result
View All Result
Home News

Worldwide IT spending to touch $4 trillion in 2021 : Gartner

News Desk by News Desk
April 8, 2021
Reading Time: 2 mins read
Software spending
Share on FacebookShare on Twitter

Digitization and technology led solutions helping companies to continue the workflow during a pandemic outbreak. According to the latest Gartner forecast, Worldwide IT spending is forecasted to reach $4.1 trillion in 2021, approx 8.4% growth from the last year 2020.

Digital business initiatives source of funds will more often come from business units outside IT and charged as a cost of revenue or cost of goods sold (COGS).

Almost all IT spending divisions are forecast to have a positive rise through the year 2022. The biggest growth will come from devices (14%) and enterprise software (10.8%) as businesses turn their focus to giving a more convenient, innovative and productive conditions for their workforce. 

“IT no longer just supports corporate operations as it traditionally has, but is fully participating in business value delivery,” said John-David Lovelock, distinguished research vice president at Gartner. “Not only does this shift IT from a back-office role to the front of business, but it also changes the source of funding from an overhead expense that is maintained, monitored and sometimes cut, to the thing that drives revenue.”

However, the optimization and cost savings exercises won’t fade simply because there’s more economic certainty in 2021, the focus for CIOs through the remainder of the year will be completing the digital business plans that are aimed at improving, increasing and transforming the organization’s value position.

Recovery to pre-pandemic outbreak spending levels varies

The improvement over the countries, vertical industries and IT segments still differs significantly, prompting a K-shape economic recovery. 

ADVERTISEMENT

Industry wise recovery – the banking & securities and insurance spending will nearly resemble pre-pandemic outbreak levels as early as 2021, while retail and transportation won’t be able to see the same recovery until closer to 2023.

Regionally, Latin America is expected to recover in 2024, while Greater China has already surpassed 2019 IT spending levels. North America and Western Europe are both expected to recover in late 2021.

Source: Gartner (April 2021)

Read More: India Server Market Revenue Fell YoY by 11.2% in Q4 2020

News Desk

News Desk

by CXO VOICE team memebrs, contact@cxovoice.com

Related Posts

CFOs budget
Business

CFOs target resources at functions that drive top-line growth

February 16, 2023
Banking

Centrum, AWR Lloyd Join Hands to Offer Infra I-Banking Services

August 10, 2022
Banking

L&T Financial Services Inaugurates Digital Sakhi Project in Karnataka

August 9, 2022
Banking

IDFC FIRST Bank Partners LetsVenture to Support Startups

August 8, 2022
Banking

Max Financial Services Q1FY23 Consolidated Revenue Rises 17 percent, with a 91 percent Profit after Tax

August 1, 2022
Banking

OctaFX Announces Visual Rebranding, Adopts Space-inspired Design System

July 27, 2022
Banking

SATYA MicroCapital Acquires the Feat of Rs. 3000 Crores Loan Outstanding Portfolio

July 27, 2022
new digital workloads to be deployed on Cloud
Cloud

Satya Nadella Says, 95% of new digital workloads to be deployed on Cloud by 2025

July 20, 2022
Load More
Leave Comment
ADVERTISEMENT

Expert Views

Credentials database theft, reused passwords dangerous entryway
Cyber Security

Can SASE be used as your initial defense against ransomware?

September 12, 2023
Smart Cities challenges and security
Cyber Security

Do our abilities match the ambitions of Smart Cities?

August 23, 2023
Why 5G Network Uptime is Essential for a Digitally Interconnected Society
Opinion

Why 5G Network Uptime is Essential for a Digitally Interconnected Society

July 18, 2023
Responding to cyberbullying with cyber confidence and resilience
Cyber Security

Responding to cyberbullying with cyber confidence and resilience

July 17, 2023
Five Ways All-Flash Data Centers Can Drive Sustainability Goals 
Opinion

Five Ways All-Flash Data Centers Can Drive Sustainability Goals 

July 7, 2023

Latest Updates

Airkit.ai

Salesforce to acquire Airkit.ai to boost AI capabilities

by IANS
23 hours ago

Working in a post-pandemic world: What is the new normal?

25 million employees now returning to offices globally in the hybrid work era

by News Desk
1 day ago

Image Credit: Pixabay

IT spending in MENA region to reach $183.8 billion in 2024: Gartner

by News Desk
1 day ago

Samsung Huawei

Samsung, Huawei to drive mass adoption of foldable smartphones next year

by IANS
2 days ago

GenAI

GenAI to generate economic value worth $2.6-$4.4 trillion annually: Report

by IANS
3 days ago

SK hynix

US to ensure S. Korean chipmakers’ smooth operation regarding China curbs

by IANS
3 days ago

Get Latest Update

Subscribe to our mailing list to receives newsletter direct to your inbox!

ADVERTISEMENT

Leaders Inerviews

NewgenOne
Leaders Talk

NewgenONE bridges the gap between business users and IT teams with its low code capability: Varun Goswami

-
Interview with Prasanna Arikala, CTO, Kore.ai on AI chatbots
AI

Can AI chatbots enhance customer experience and reduce the cost of serving customers?

-
Rising cyber attacks pose a serious threat to Indian SMBs, says Zakir Hussain
Cyber Security

Rising cyber attacks pose a serious threat to Indian SMBs, says Zakir Hussain

-
Axis Bank's Cloud-driven digital banking solutions
Banking

Axis Bank doubles down on cloud based digital banking solutions

-

Entrepreneur

Samsung Electronics appoints its first female president

Inspiring Women Entrepreneurs in India (2022)

Technology Adoption For Entrepreneurs

Volunteering management is the need of the Hour

We bring business leaders' opinions and unique ideas on what’s happening in the market and its impact. Also, get the daily news, analysis, and insights.

Connect with us

Easy Links

  • Cryptocurrency
  • Event
  • Blockchain
  • Press Release
  • Resources & Downloads

Write Us

contact@cxovoice.com
  • Home
  • About
  • Contact Us
  • Advertise
  • Privacy & Policy
  • Feedback

© 2023 CXO VOICE

No Result
View All Result
  • Home
  • News
  • Leaders Talk
  • Expert Opinion

© 2023 CXO VOICE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/