IT spending to grow at 8.6% to $4.2 trillion in 2021: Gartner

Worldwide IT spending is forecast to increase at 8.6 percent to $4.2 trillion in 2021, Gartner report said today.
IT spending forecast for 2021“CIOs are looking for partners who can think past the digital sprints of 2020 and be more intentional in their digital transformation efforts in 2021. This means building technologies and services that don’t yet exist, and further differentiating their organization in an already crowded market,” John-David Lovelock, distinguished research vice president at Gartner, said.

IT spending is accelerating ahead of revenue expectations. Boards and CEOs are much more willing to invest in technology that has a clear tie to business outcomes, and less so for everything else.

For example, the IT services segment is among the top three highest growth areas for 2021 primarily due to a boost in infrastructure-as-a-service spending that supports mission critical workloads and avoids high on-premises costs. The IT services segment is forecast to total $1.2 trillion in 2021, an increase of 9.8 percent from 2020.

The Gartner quarterly IT spending forecast delivers a unique perspective on IT spending across the hardware, software, IT services and telecommunications segments. These reports help Gartner clients understand market opportunities and challenges.

The most recent IT spending forecast research is available to Gartner clients in “Gartner Market Databook, 2Q21 Update.” This quarterly IT spending forecast page includes links to the latest IT spending reports, webinars, blog posts and press releases.

Additional analysis on how CIOs respond to adversity and discover digital business strategic planning tools and techniques to achieve business continuity will be presented during Gartner IT Symposium/Xpo 2021, the world’s most important conferences for CIOs and other IT executives.

The information technology (IT) spending in India is expected to reach $92.7 billion in 2021, growing 8 percent from last year, Gartner said.

Naveen Mishra, senior research director at Gartner, said: “Pharmaceuticals, healthcare, financial services, education, online retail and government continue to invest in their digital transformation journey.”