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IDC Forecasts Global ICT Spending To Grow 4 Percent Per Year Through 2022

Business spending on information and communication technologies (ICT) will be caught in the crossfire of headwinds and tailwinds over the next 5 years as a softening global economy puts pressure on the ability of organizations to increase technology budgets while at the same time their growth and competitiveness is increasingly dependent on digital transformation, artificial intelligence (AI), and data analytics.

A new forecast from International Data Corporation (IDC) predicts worldwide ICT spending on hardware, software, services and telecommunications will reach USD 4.6 trillion by 2022, representing average growth of 4 percent per year. Commercial customers will represent around 63.5 percent of total spending by 2022 (USD 2.9 trillion), while consumers will still account for 36.5 percent (USD 1.7 trillion).―CT Bureau

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