Worldwide IT spending forecast to grow 4% to $4.4 trillion in 2022: Gartner

Worldwide IT spending is forecast to grow 4 percent to $4.4 trillion in 2022, the latest Gartner news report said.
IT spending forecast for 2022“CIOs are accelerating IT investments as they recognize the importance of flexibility and agility in responding to disruption. Investing preference will be focused in areas including analytics, cloud computing, seamless customer experiences and security,” John-David Lovelock, distinguished research vice president at Gartner, said.

Software spending is expected to grow 9.8 percent to $674.9 billion in 2022. IT services is forecast to grow 6.8 percent to reach $1.3 trillion.

Infrastructure as a service (IaaS) will be accounting for a significant portion of the almost 10 percent growth in software spending in 2022.

Gartner expects digital business initiatives such as experiential end-consumer experience and optimization of supply chain to push spending on enterprise applications and infrastructure software into double-digit growth in 2023.

The Russian invasion of Ukraine is not expected to have a direct impact on global IT spending. Price and wage inflation compounded with talent shortages and other delivery uncertainties are expected to be greater impingements on CIOs’ plans in 2022 but will still not slow down technology investments.