‘Global IT spend to grow 10% to $5.6 trillion this year’

BENGALURU: Worldwide IT spending is expected to touch $5.6 trillion this year, an increase of 9.8% from last year, a forecast by Gartner showed.

“While budgets for CIOs are increasing, a significant portion will merely offset price increases within their recurrent spending,” said John-David Lovelock of Gartner.

“This means that, in 2025, nominal spending versus real IT spending will be skewed, with price hikes absorbing some or all of budget growth. All major categories are reflecting higher-than-expected prices, prompting CIOs to defer and scale back their true budget expectations.”

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