Worldwide IT spending is projected to total USD 3.8 trillion in 2019, an increase of 3.2 percent from expected spending of USD 3.7 trillion in 2018, states Gartner, Inc. Enterprise software spending is forecast to experience the highest growth with an 8.3 percent increase in 2019. Software as a service (SaaS) is driving growth in almost all software segments, particularly customer relationship management (CRM), due to increased focus on providing better customer experiences. Cloud software will grow at more than 22 percent this year compared with 6 percent growth for all other forms of software. While core applications such as ERP, CRM, and supply chain continue to get the lion share of dollars, security and privacy are of particular interest right now. 80 percent of recently surveyed global CIOs have deployed or plan to deploy cybersecurity software and other technology in the next 12 months.
IT services will be a key driver for IT spending in 2019 as the market is forecast to reach USD 1 trillion in 2019, an increase of 4.7 percent from 2018. An expected global slowdown in economic prosperity, paired with internal pressures to cut spending, are driving organizations to optimize enterprise external spend for business services such as consulting.