Taipei, Thursday, Apr 13, 2021, 07:05

News

Global IT Spending to Jump by $228B and hit $3.92T in 2021

Published: Mar 03,2021

The COVID-19 crisis forced companies and organizations across the globe to speed up the digitalization of their business, as remote working and distance learning became the new normal amid the ongoing lockdown.

More on This

Semiconductor Units Forecast To Exceed 1 Trillion Devices Again in 2021

Total semiconductor unit shipments, which include integrated circuits as well as optoelectronics, sensor/actuator, and discrete (O-S-D) devices...

Acer Reports Q1’21 Preliminary Revenue at NT$71.56 Billion, Up 46.5% YoY

TAIPEI, Taiwan - Acer announced its preliminary consolidated revenues for the first quarter of 2021 at NT$71.56 billion, up 46...

The surge in the use of digital solutions and services abated the pandemic’s negative effect on IT spending, which still dropped to just under $3.7trn in 2020.

According to data presented by StockApps.com, global IT spending is expected to recover in 2021 and hit a $3.92trn value, a $228bn increase in a year.

The surge in the use of IT services and devices, enterprise software and data center systems led to the impressive growth of global IT spending over the years. In 2005, consumers, businesses, and organizations worldwide spent $2.6trn on IT devices and solutions, revealed the Gartner survey. By 2013, this figure jumped by almost 40% to $3.6trn. After a drop to below $3.4trn in 2015 and 2016, global IT spending hit more than $3.8trn in 2019, the highest level in fifteen years.

In just a few months, the COVID-19 crisis has delivered years of change in the way companies across different sectors do business. According to a McKinsey Global Survey of executives, they have speeded up the digitization of their customer and supply-chain interactions by three to four years. The share of digital or digitally enabled products in their portfolios has accelerated by seven years.

Nevertheless, the economic uncertainty caused by the pandemic had a huge impact on global IT spending, which dropped by $121bn in 2020. Statistics show this figure is set to jump by 6.2% and hit $3.92trn in 2021.

However, to survive in a post-COVID-19 world that involves higher adoption of remote work and digital touchpoints, businesses will have to keep speeding up their digital transformation plans. That is why Gartner predicts global IT spending to continue increasing and hit more than $4.1trn in 2022.

CTIMES loves to interact with the global technology related companies and individuals, you can deliver your products information or share industrial intelligence. Please email us to en@ctimes.com.tw

399 viewed

comments powered by Disqus