tech spending

Tech Spending in 2022 Forecast

An increased focus on investing in business outcomes as opposed to buying finished products underlies Gartner’s expectations for sustained growth in IT services — 9.8% in 2021, with a CAGR of 8.68% over the 2020-2025 period (second only to software at 11.9%).

Also noticeable in Gartner’s forecast is a sharp near-$100 billion rise in spending on devices in 2021, most of which is attributable to the rapid shift to remote working during the pandemic, as companies reacted to the initial shock and stabilized their operations.

That reactive phase is now largely over, Gartner says, with most companies preparing to reach the ‘next normal’ — exiting phase 3 of the analyst firm’s COVID response model (‘rebounding to the future’) and moving into phase 4 (‘accelerating opportunities’) as per chart above.

Source: Gartner, ZDNet