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Global IT Spending to Reach $4.5 Trillion in 2022: Gartner

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With an increase of 5.1 percent from 2021, global IT spending is projected to reach $4.5 trillion this year, a new report has said.

Despite the potential impact of the Omicron variant, economic recovery with high expectations for digital market prosperity will continue to boost technology investments, according to market research firm Gartner.

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“2022 is the year that the future returns for the CIO,” John-David Lovelock, distinguished research vice president at Gartner, said in a statement.

They are now in a position to move beyond the critical, short-term projects over the past two years and focus on the long term. Simultaneously, staff skills gaps, wage inflation and the war for talent will push CIOs to rely more on consultancies and managed service firms to pursue their digital strategies, – Lovelock added.

Gartner forecasts that the IT services segment, including consulting and managed services, is expected to have the second-highest spending growth in 2022, reaching $1.3 trillion, up 7.9 percent from 2021. Business and technology consulting spending is expected to grow 10 percent in 2022.

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By 2025, organizations will increase their reliance on external consultants as the greater urgency and accelerated pace of change widen the gap between organizations’ digital business ambitions and their internal resources and capabilities, the report said. “This will be particularly poignant with cloud as it serves as a key element in achieving digital ambitions and supporting hybrid work,” said Lovelock.

“Gartner expects the vast majority of large organisations to use external consultants to develop their cloud strategy over the next few years,” Lovelock added.

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